SBI Personal Loan for Senior Citizens

Personal Loan By Profession
Personal Loan By Other
Personal Loan By Scheme
Personal Loan By Amount

Your age is just a number when it comes to SBI personal loans. Whether you need money for your child's wedding, buying a home, planning a trip, or medical help, the bank is ready to provide funds. With an SBI personal loan for senior citizens, you can get good interest rates. The processing fees are low, and repayment is flexible. The eligibility criteria are moderate, and you need minimal documents. Funds are disbursed quickly.

Check details such as SBI personal loan interest for senior citizens, its eligibility criteria, document requirements, and applicable fees.

Get in Touch for Personal Loan Expert Advice

Connect with our Personal Loan Advisor Now!

Personalized Personal Loan solutions
Expert guidance
Application assistance
Credit score discussion
Personal Loan Interest rate comparison

Full Name

+91Mobile No.

Choose City

I agree to the Terms and Conditions of TUCIBIL and hereby provide explicit consent to share my Credit Information with Urban Money Private Limited.

Table of Content

1. SBI Personal Loan for Senior Citizens Highlights

2. Compare SBI Pensioners Loan From Other Banks

3. SBI Personal Loan for Pensioners Fees and Charges

4. SBI Personal Loan for Pensioners Documents Required

5. SBI Personal Loan for Pensioners Eligibility Criteria

Written By

Amit Pandey

Reviewed By

SBI Personal Loan for Senior Citizens Highlights

The following are the key parameters of an SBI personal loan for senior citizens:

Highlights
Loan Amount	Rs 14 lakhs
Interest Rates	11.20% p.a. onwards
Loan Tenure	72 months (Loan to be repaid by 78 years of age)
Eligibility	The pensioner should be under 76 years of age and must receive a pension through an SBI bank account.

Compare SBI Pensioners Loan From Other Banks

Following is the comparison of SBI personal loan senior citizens with other lending banks in India.

Lender	Interest Rate (p.a.)	Processing Fee	Tenure
State Bank of India	11.20% onwards	1% of the loan amount	Up to 6 years
Bank of India (BOI)	10.25% onwards	Nil	Up to 5 years
Punjab National Bank	11.75% onwards	Nil	Up to 5 years
United Bank of India	11.40% onwards	1% of the loan amount	Up to 5 years
Central Bank of India	12.00% onwards	1% of the loan amount	Up to 7 years

SBI Personal Loan for Pensioners – Fees and Charges

Let’s take a look at the following fees and charges you can expect in an SBI instant loan for senior citizens:

Fee/Charge	Amount
Processing Fee	1% of the loan amount, minimum Rs 1000 + GST, maximum Rs 10000 + GST.
Late Payment Fees	2% per annum (in addition to 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 Pensioners – Documents Required

The following are the required documents for an SBI personal loan for senior citizens:

Proof of Identity: Aadhaar card, PAN card, passport, voter ID, or driving licence.
Proof of Address: Utility bills, passport, or driving licence.
Proof of pension: Pension payment order, or pension account statement.

SBI Personal Loan for Pensioners – Eligibility Criteria

The following are the eligibility criteria for an SBI personal loan for senior citizens:

You must be an Indian citizen.
You must be below 76 years of age
You must receive your pension through an SBI bank account.
You must have a good credit history and score.

Quick Links

Loan Offers By State Bank Of India's

Personal Loan by Private Bank

Personal Loan by Nationalized Bank

Personal Loan by NBFC

Personal Loan Calculators

State Bank Of India Calculators

Bank wise Personal Loan Calculators

Bank Wise Personal Loan Interest Rate