SBI Personal Loan – Apply Online 2022 SBI Personal Loans are available for both salaried and self-employed customers who want to meet their unforeseen financial requirements. A borrower can take a personal loan from SBI for any budgetary needs like wedding-related expenses, foreign travel, abroad education, health-related expenses or any other monetary expenses. The loan comes at attractive interest rates for you to service at. The rate varies based on the type of workplace and credit history you have. SBI provides an SBI Personal Loan for a maximum of 6 years, one year more than what other lenders do. Let’s read about SBI Personal Loan in detail. State Bank of India offers personal loan under the schemes, namely Xpress Credit, Xpress ELITE Scheme and SBI Pension Loan. It has low interest rates, higher loan amount facility needs no collateral and charges zero prepayment fees that make it more feasible for the borrowers. Why Choose SBI Personal Loan? Personal loans are unsecured loans which mean there are no security or collateral required to get it. Similarly, it is also given without any collateral. Some of the main factors that make SBI personal loan scheme unique have been given below. ●
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Attractive Rate of Interest: SBI charges one of the lowest personal loan interest rates and hence is customer-friendly. The personal loan interest rates of SBI are on a daily recurring balance basis, therefore, ensures maximum benefits to the borrowers. Timely Discounted Schemes: SBI is one of the very few banks that gives offers on personal loans from time to time – like there are Diwali offers and also has discounts for government employees, doctors and other professionals. No Hidden Charges: There are no hidden charges or penalties for any SBI personal loan scheme. No Prepayment Penalty: For personal loans, State Bank of India charges no prepayment or foreclosure charges. However, if the loan is being repaid before six months of the loan approval date, the bank charges 1% of the outstanding loan amount. Instant Loan Approval: As there is no collateral required to take a personal loan from SBI bank, the loan approval is quicker and smoother. Online Loan Submission: Nowadays, people look forward to doing everything online. Keeping this demand in the notice, State Bank of India provides online loan submission that saves the loan borrowers time.
SBI Personal Loan Interest Rates February 2022 Particulars
Details
Interest Rate
9.60% - 13.60%
Loan Amount For Term Loan: Minimum - INR 24,000 Maximum - 24 times NMI subject to a maximum of INR 15 lakhs