SBI Self Employed Personal Loan

Today, innovation and ambition fuel the journey to success, and financial support becomes a pivotal factor in turning dreams into reality. For self-employed individuals navigating the challenging terrain of business ownership, the State Bank of India (SBI), established in 1955, stands as a reliable partner in their pursuit of financial stability and growth.

As we unravel the specifics, you’ll gain insights into how SBI empowers self-employed individuals to bridge financial gaps, seize opportunities, and overcome challenges. SBI’s commitment to fostering entrepreneurship is more than just a financial transaction; it’s a partnership in building and realising your entrepreneurial dreams. Today, we will discuss SBI personal loans for self-employed. Let’s take a look! 

SBI Personal Loan for Self-Employed – Highlights

Here are the highlights of SBI personal loans for self-employed. Take a look

Compare SBI Self-Employed Loan from Other Banks

Here is a quick comparison between SBI self-employed instant loans and those of other leading banks and NBFCs. 

SBI Personal Loan for Self-employed – Fees and Charges

The borrowers are required to pay certain additional charges for SBI self-employed instant loans. These are as follows:

• 1.50% processing fee of the loan amount + GST
• 18% GST
• Other charges may include stamp duty, verification charges and incidental costs

SBI Self-Employed Personal Loan Documents Required

Take a look at the SBI Bank salaried employee personal loan document requirements below: 

• Completely filled loan application form with two self-attested photographs
• Government-approved documents like Aadhar card, utility bills, voter ID
• For income proof, the applicant will need to show the latest salary receipts, bank statements of the past few months, income tax filings, etc. 

SBI Personal Loan for Self-employed – Eligibility Criteria

Here’s the basic eligibility criteria for an SBI personal loan for self-employed. 

1. The applicant must be between 21-76 years of age. 
2. The applicant must be earning a minimum income of INR 15,000.
3. He or she should be an Indian citizen.
4. The applicant must have a healthy CIBIL score of 700+