SBI Personal Loan

SBI personal loan eligibility also depends on the credit score of its applicants, just like other lenders

You are eligible for a second loan only on regular EMI repayments of the first loan

2. SBI Real Time Xpress Credit

Government/defense salary package account holders with KYC compliant accounts

Minimum Net Monthly Income

>=Rs 15000/- for RTXC

>=Rs 1,00,000/- for RTXC-Elite

EMI/NMI ratio- For RTXC:< 50%, and for RTXC Elite-:< 60%

3. SBI Quick Personal Loan

Employees working with Central/ State/ Quasi-Governments, Central & State PSUs, corporates (private and public limited), and educational institutions of national repute

Age limit- 21 to 58 years

Employees having salary account with any other bank than SBI

Minimum net monthly income is Rs 15,000

EMI/NMI ratio- less than 50%

At least 1 year of service is required

4. Pre-approved Personal Loan

The savings bank account holders can apply

The bank account holder can SMS “PAPL” to 567676 to check eligibility

5 SBI Pension Loan

For Central/ State Government Pensioners

Age- The pensioner should be below 76 years

Pension is drawn through an SBI account

The pensioner is to give an irrevocable undertaking not to modify his mandate to the treasury during the loan tenure

The Treasury to give permission in writing that it will not accept any request from the pensioner to transfer his pension payment to any other bank till a NOC is issued

All other terms and conditions of the Scheme will be applicable, including a guarantee by the spouse (eligible for family pension) or by an appropriate third party

For Defense Pensioners

Maximum age at the time of processing the loan should be up to 76 years

No minimum age limit is required under this scheme

Pension accounts of employees should be maintained with SBI

Pensioners of Armed Forces including Army, Navy, and Air Force, Paramilitary Forces (CRPF, CISF, BSF, ITBP, etc ), Coast Guards, Rashtriya Rifles, Assam Rifles

For Family Pensioners

Maximum age- Up to 76 years

Family pensioners include authorized members of the family to receive a pension in place of the deceased pensioner

SBI Xpress Elite

Individuals/Borrowers

Minimum

Mandatory Documents Required for SBI Personal Loan

Duly filled application form with 2 latest photographs

ID Proof- PAN Card, driving license, passport, voter ID, and Aadhar card Residence Proof- telephone bills/electricity bills/passport/voter ID

Last 6 months bank account statement where your salary is credited Salary slips for the previous 6 months

SBI Personal Loan: Interest Rate, Processing Fees, and Other Fees and Charges

SBI Personal Loan starting interest rate is 10 55% p a The SBI offers personal loan interest rates based on the type of SBI Personal Loan schemes availed, employment profile, loan amount, and the SBI existing salary account relationship with the applicants

05%

Types Interest Rates

Term Loan 10 55%-13 05% p a Overdraft 11.05%-13.55% p.a.

Term Loan 11 55%-13 55% p a Overdraft 12 05%-14 05% p a

SBI Xpress Credit Personal Loan Foreclosure Charge and Penalty

Pre-payment Charges 3% on the

EMI/NMP Ratio (for family pensioners)

EMI/NMP Ratio (for other pensioners)

Up to 33%

Up to 50%

Foreclosure Charges 3% on the prepaid amount is charged No pre-payment charges are applicable if an account is closed from the proceeds of a new loan account under the same scheme

5. SBI Xpress Elite Personal Loan

SBI Xpress Elite Interest Rate

Types of Applicants/Borrower ’ s Interest Rates

Salary Account Holders with SBI 10 55%-12 05% p a

Applicants having salary accounts with any other banks 10 80%-12 30% p a

SBI Xpress Elite Processing Fees, Penal Interest, and Pre-payment Charges

Processing Fees Up to 1 50% of the loan amount (minimum Rs 1000 & maximum Rs 15000) + Applicable GST

Penal Interest 2% per month

Foreclosure Charges 3% on the prepaid amount is charged No pre-payment charges if an account is closed from the proceeds of a new loan account under the same scheme

Types of SBI Personal Loans

1 SBI Xpress Credit Personal Loan

Purpose- SBI Xpress Credit is a personal loan scheme offered to salary account holders at SBI to meet unexpected emergencies

Term loan amount: Rs 25,000 to Rs 20 lakh

Overdraft loan amount: Rs 5 lakh to Rs 20 lakh

Tenure- 6 months to 6 years or the remaining period of service (whichever is lower)

2 Pre-approved Personal Loan through SBI YONO App

Purpose- It is a pre-approved personal loan facility popularly known as SBI Yono Pre-approved Personal Loan It is a kind of reward offered to savings account holders of SBI You can avail of a loan amount of up to Rs 8 lakh

Also Read- Bank of India Personal Loan

Steps to avail of pre-approved personal loans on YONO

Step 1: Login to YONO App

Step 2: Click on the ‘Avail’ Now option

Step 3: Select loan tenure & the loan amount

Step 4: Enter received OTP -> Amount Credited

3 SBI Real Time Xpress Credit (RTXC) Personal Loan

Purpose: RTXC is a fully digitized loan journey

Loan Amount: Rs 24,000 to Rs 20 lakh

Minimum loan tenure- 6 months Maximum tenure-6 years or the remaining period of service (whichever is lower)

5 SBI Pension Loan

Purpose- SBI pension loan scheme is accessible to central and state government pensioners, defense pensioners, and family pensioners drawing their pension through the SBI account Such pensioners can use the loan proceeds for supporting their personal needs

Loan Amount:

Central/ State government employees/Defense pensioners - Up to 14 lakh Family Pensioners can avail of loans up to 5 lakh

Loan Repayment Tenure:

For Central/ State Government Employees/Family Pensioners- Up to 5 years Defence Pensioners- Up to 7 years

6. SBI Xpress Elite

Purpose- SBI offers customized personal loans for all high-value salaried customers having a minimum monthly income of Rs 1 lakh The borrower can use these expenses for weddings, vacations, unplanned emergencies, or planned purchases, and you will get quick approval and disbursal with minimal documentation

Loan amount- Rs 3,00,000 to Rs 35 lakhs Repayment period- 6 months to 6 years or the remaining period of service (whichever is lower)

Pros and Cons of SBI Personal Loan

Important Points to Remember

YONO SBI App Ratings & Review

The rating given by the customers on the YONO SBI App is great on google playstore, More than 10 Crore users downloaded their app, and customers are happy with their product and the number of financial services available you can see the app review and ratings below.

Google Playstore Rating 4 2/5* Number of App Downloads 10 Crore+ Number of Users Review 14,64,210 Content rating 3+ App Size 39 MB

SBI Customer Care Details

Why Choose Saral Credit