SBI Personal Loan of 10000

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Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

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Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

SBI Personal Loan of ₹10,000 is an instant and collateral-free financing option. I.e., you can secure the necessary funds without pledging any of your assets as collateral. The bank also ensures that once you have submitted the loan application, the funds will hit your bank account within a day as well. Moreover, to apply for this borrower-friendly personal loan, you can typically opt for either online or offline methods, according to your preference.

Thus, Urban Money briefly overviews an instant ₹10,000 loan with SBI. We will primarily cover details including the ₹10,000 loan interest rate, eligibility criteria, required documents, and applicable fees. Furthermore, we will also provide a comparison of the SBI personal loan of ₹10,000 with offerings from other leading lenders in India. This ultimately empowers you can identify the best financing option that suits you well.

₹10000 Personal Loan SBI – Highlights

The following are the key parameters of an SBI personal loan of ₹10,000:

Highlights
Interest Rates	10.55% p.a. onwards
Processing Fees	1% of the loan amount plus applicable taxes
Loan Tenure	Up to 5 years
Eligibility	Both salaried and self-employed individuals are eligible

₹10000 Personal Loan EMI for 1- 5 Years

Flowing is the estimated ₹10,000 personal loan EMI with SBI for varying tenures:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Interest Payable	Total Amount Payable
Rs 10,000	10.55% p.a.	1 year	Rs 882	Rs 584	Rs 10,584
Rs 10,000	10.55% p.a.	2 years	Rs 464	Rs 1,136	Rs 11,136
Rs 10,000	10.55% p.a.	3 years	Rs 325	Rs 1,700	Rs 11,700
Rs 10,000	10.55% p.a.	4 years	Rs 256	Rs 2,288	Rs 12,288
Rs 10,000	10.55% p.a.	5 years	Rs 215	Rs 2,900	Rs 12,900

Compare ₹10000 Personal Loan From Other Banks & NBFCs

Following is the comparison of an SBI personal loan of ₹10,000 with other leading banks and NBFCs in India:

Lender	Interest Rate (p.a.)	Processing Fee	Tenure
State Bank of India	10.55% onwards	1% of the loan amount	1 to 5 years
Axis Bank	10.49% onwards	Up to 2% of the loan amount	1 to 5 years
IDFC First Bank	10.49% onwards	Up to 3.49% of the loan amount	1 to 5 years
IndusInd Bank	10.49% onwards	Up to 2.5% of the loan amount	1 to 5 years
HDFC Bank	10.50% onwards	Up to Rs 4999	1 to 5 years
ICICI Bank	10.50% onwards	Up to 2.50% of the loan amount	1 to 6 years
Kotak Mahindra Bank	10.99% onwards	Up to 3% of the loan amount	1 to 5 years
Bajaj Finserv	11.00% onwards	Up to 3.93% of the loan amount	1 to 8 years
Federal Bank	10.49% onwards	Up to 3% of the loan amount	1 to 5 years
Punjab National Bank	11.75% onwards	1% of the loan amount	1 to 6 years

₹10000 SBI Home Loan – Fees and Charges

Let’s take a look at the applicable fees and charges for an SBI personal loan of ₹10,000:

Fee/Charge	Amount
Processing Fee	1% of the loan amount plus applicable taxes
Prepayment Charges	3% on your prepaid amount
Late Payment Charges	2% per annum, above the applicable interest rate.
Cheque/ECS/NACH dishonour Charges	Rs 250
Professional charges (Advocate Charges/Retainer ship Charges)	At Actuals

₹10000 SBI Home Loan – Documents Required

The following are the ₹10,000 personal loan documents in SBI:

Proof of Identity: PAN Card, Passport, Voter ID or Driving License.

Proof of Address: Aadhaar Card, Passport, Driving License, or Utility Bills.

Proof of Income: Bank statement showing the credit of your salary/income.

Proof of Employee: Latest salary slips.

₹10000 SBI Home Loan – Eligibility Criteria

The following are the ₹10,000 personal loan eligibility in SBI:

You must be aged between 21 and 58 years
You must have a regular source of income that covers the EMIs
You must have a good credit score and repayment history.
You must be an Indian citizen