SBI Government Employees Personal Loan

The SBI government employees’ personal loan falls under the scheme called Real-Time Xpress Credit (RTXC). It’s a fully digitalized loan exclusively designed for Government and Defence Salary Package customers. As a collateral-free loan, the bank ensures customers can secure the necessary funds without pledging assets. Additionally, the bank offers the opportunity to opt for a loan amount of up to ₹35 lakhs, making it a more appealing financing option. Customers can apply for a loan anytime, anywhere, via their smartphone and receive cash instantly in their bank account. To learn more about this loan type, let’s scroll down. Hereunder, we provide a detailed view of an SBI government staff personal loan, including its eligibility criteria, required documents, applicable interest rate, and more.

SBI Personal Loan for Government Employees – Highlights

The following are the key parameters of SBI government employees’ personal loans:

Highlights
Loan Amount	Rs 35 lakh
Interest Rates	10.55% p.a. onwards
Loan Tenure	6 months – 72 months
Eligibility	Government or Defense Salary Package account holders in SBI

Compare SBI Government Employees Loan From Other Banks

Let’s compare SBI government employees’ personal loans with other leading banks and NBFCs across India.

Lender	Interest Rate (p.a.)	Processing Fee	Max. Loan Amount	Max. Loan Tenure
State Bank of India	10.55% onwards	Up to 0.75% of the loan amount	Rs 35 lakh	6 years
Axis Bank	10.49% onwards	Up to 2% of the loan amount	Rs 40 lakh	7 years
HDFC Bank	10.50% onwards	Upto Rs 4999	Rs 40 lakh	6 years
Union Bank	10.60% onwards	0.50% of the loan amount	Rs 15 lakh	6 years
IDBI Bank	9.50% onwards	1 % of the loan amount	Rs 5 lakh	6 years
Kotak Mahindra Bank	10.99% onwards	Up to 3% of the loan amount	Rs 40 lakh	6 years
Tata Capital	10.99% onwards	3.5% of the loan amount	Rs 35 lakh	6 years

SBI Personal Loan for Government Employees – Fees and Charges

Here are the applicable fees and charges for an SBI instant loan for senior citizens:

Fee/Charge	Amount
Processing Fee	Up to 0.75% of the loan amount plus GST
Late Payment Fees	2% per annum above the applicable interest rate.
Prepayment Charges	3% of the prepaid amount
Cheque/ECS/NACH dishonour Charges	Rs 250
Professional charges (Advocate Charges/Retainer ship Charges)	At Actuals

SBI Personal Loan for Government Employees – Documents Required

Here are the required documents you may submit along with your SBI government employees’ personal loan application:

• Proof of Identity: Aadhaar card, PAN card, passport, voter ID, or driving licence.
• Proof of Address: Utility bills, passport, or driving licence.
• Proof of Income: Latest salary slip

SBI Personal Loan for Government Employees – Eligibility Criteria

Following are the SBI personal loan eligibility for government employees:

• The applicant must be a government employee.
• The applicant must have an SBI salary account. 
• The applicant must have a minimum salary of Rs. 15,000 per month.
• The applicant must be somewhere between 21 and 58 years old.
• The applicant’s EMI/NMI ratio must be below 50%, where NMI refers to Net Monthly Income.