SBI Personal Loan of 5000

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The SBI personal loan of ₹5,000 is considered one of the most rapid and economical financing options available. Eligible applicants typically expect to have the funds in their bank account within a day. Moreover, as the SBI loan application process is now fully digitised/online, you are no longer required to visit the bank branches. Instead, you can simply apply and submit the necessary documents via smartphone. The application process only takes 10 minutes, making it a more borrower-friendly financing option. To know more, continue scrolling down. We will provide details such as the ₹5,000 loan interest rate, expected EMIs, eligibility criteria, required documents, applicable fees, and more.

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Table of Content

1. 5000 Personal Loan SBI Highlights

2. 5000 Personal Loan EMI for 1- 5 Years

3. Compare 5000 Personal Loan From Other Banks & NBFCs

4. 5000 SBI Personal Loan Fees and Charges

5. 5000 SBI Personal Loan Documents Required

6. 5000 SBI Personal Loan Eligibility Criteria

Written By

Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

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.

₹5000 Personal Loan SBI – Highlights

Here are the key parameters of an SBI personal loan of ₹5,000:

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

₹5000 Personal Loan EMI for 1- 5 Years

Here is the estimated ₹5,000 personal loan EMI with SBI for varying tenures:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Interest Payable	Total Amount Payable
Rs 5,000	10.55% p.a.	1 year	Rs 441	Rs 292	Rs 5,292
Rs 5,000	10.55% p.a.	2 years	Rs 232	Rs 568	Rs 5,568
Rs 5,000	10.55% p.a.	3 years	Rs 163	Rs 868	Rs 5,868
Rs 5,000	10.55% p.a.	4 years	Rs 128	Rs 1,144	Rs 6,144
Rs 5,000	10.55% p.a.	5 years	Rs 108	Rs 1,480	Rs 6,480

Compare ₹5000 Personal Loan From Other Banks & NBFCs

Following is the comparison of an SBI personal loan of ₹5,000 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
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
IndusInd Bank	10.49% onwards	Up to 2.5% 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
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

₹5000 SBI Personal Loan – Fees and Charges

Following are the fees and charges in an SBI personal loan of ₹5,000:

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

₹5000 SBI Personal Loan – Documents Required

The following are the ₹5000 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.

₹5000 SBI Personal Loan – Eligibility Criteria

The following are the ₹5000 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.

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