SBI Personal Loan of 15,000

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Utsah Sharma

Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.

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Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

SBI personal loan of 15,000 can be used for vehicle purchases, home renovations, wedding planning and a variety of other personal expenses. These loans can be comfortably repaid in Equated Monthly Instalments (EMIs). Loan tenure and interest rate strongly influence personal loan 15,000 EMIs. As the loan tenure increases, the monthly EMI decreases and vice versa. Currently, the SBI 15,000 loan interest rate starts at 10.55% p.a.

In this article, we take a look at the changing EMIs on the loan for up to 5 years. Stay tuned to find the complete EMI schedule.

SBI 15,000 Personal Loan- Highlights

An SBI personal loan of 15,000 is available at the following terms to the borrowers.

Loan Amount	₹15,000
Maximum Loan Tenure	Up to 6 years
Rate of Interest (p.a.)	10.55% p.a.
Overdraft Facility	Available
Pre-Approved Facility	Available

SBI 15,000 Personal Loan EMIs for 5 Years

Take a look at the personal loan 15,000 EMIs for SBI customers below. The given calculations span over a period of 5 years at an interest rate of 10.55% p.a.

Loan Tenure	Loan Amount	Interest Rate (p.a.)	EMI
1 Year	₹15,000	10.55%	₹1,323
2 Years	₹15,000	10.55%	₹696
3 Years	₹15,000	10.55%	₹488
4 Years	₹15,000	10.55%	₹384
5 Years	₹15,000	10.55%	₹323

SBI 15,000 Personal Loan Comparison With Other Lenders

Here’s a quick comparison of the instant 15,000 loans from SBI with other banks and NBFCs.

Bank Name	Interest Rate (p.a.)	Maximum Loan Tenure
Axis Bank	10.49% onwards	7 years
HDFC Bank	10.50% onwards	6 years
TATA Capital	10.99% onwards	6 years
Kotak Mahindra Bank	10.99% onwards	6 years
L&T Finance	12% onwards	4 years

15,000 SBI Personal Loan – Fees and Charges

Personal loan borrowers are required to pay certain additional charges over and above the 15,000 loan interest rate. These charges are:

A processing fee of 1.50% of the loan amount plus GST
A GST charge of 18%
Other charges like document verification charges and stamp duty charges

15,000 SBI Personal Loan – Documents Required

Borrowers applying for an SBI personal loan of 15,000 will need to submit the following documents while applying for the loan.

Loan Application Form with 2 passport-size photographs
KYC Documents: Aadhar Card, Voter’s ID, Driver’s License, Utility Bills, and other documents.
Income Proofs: Balance Sheet and P&L account, Salary receipts, Bank statements, IT returns, and other documents

15,000 SBI Personal Loan – Eligibility Criteria

Candidates fulfilling the following eligibility criteria can apply for an SBI personal loan of 15,000.

Eligible Borrowers: Self-employed/ Salaried/ Pensioners/ Govt. Employees
Age Limit: 21-76 years
Minimum Income: As specified by the bank
EMI/NMI ratio: Less than 50%
Citizenship: Indian citizen