SBI Personal Loan

To meet unforeseen financial needs, SBI offers personal loans to both salaried & self-employed customers. SBI Personal Loan can be availed to meet wedding expenses, foreign travel expenses, foreign studies, health-related expenses, or any other monetary expenses. It is offered @ 11% p.a. onwards for a period of up to 6 years and a loan amount of INR 20 lakhs. Also, the SBI pension loan is offered for a period of up to 7 years and a loan amount of INR 14 lakhs.


SBI Personal Loan- A Snapshot
Interest rate 11.00%-15.00% p.a.
Loan Amount Up to INR 20 lakh
Tenure Up to 6 years
Minimum Monthly Salary INR 15,000
Processing Fee Up to 1.50% (INR 1,000-INR 15,000)
Pre-closure Charges NIL
Part-payment Fees NIL
  • Proof of Identity
  • Proof of Address
  • Bank statements (last 6 months)
  • Salary slips (latest)


How to Apply for SBI Bank Personal Loan


Step 1: Evaluate the need to analyze the exact amount for which the loan is to be raised.

Step 2: Using the Personal Loan eligibility calculator, analyze how much amount is to be repaid during a month after taking into consideration the existing loan or credit card dues.

Step 3: Check the eligibility criteria so as to know whether the income and employment status meets the same or not.

Step 4: Check with the interest rates offered by the bank.

Step 5: In the case of an existing customer, a personal loan can be applied via a mobile app or Internet banking account. In case of a new customer, the application can be downloaded from the bank’s website or by visiting the branch.

Step 6: Provide KYC documents, address proof, and income proof, along with the application form and cheque for the processing fees.

Step 7: Post verification, the bank will sanction the loan and approve the loan amount on the basis of eligibility followed by a signature.

Step 8: The loan amount will then be credited to the bank account within 30 days and the account balance can be checked with the help of the SBI Mini Statement.


Types of SBI Personal Loan

  1. SBI Xpress Credit Personal Loan 


  • Loan Amount: Up to INR 20 lakh
  • Tenure: 6 months to 6 years
  • Interest Rates: 


  • For Defense/Para-military/Indian Coast Guard Salaried Applicants
Types Interest Rates (p.a.)
Term Loan 11.00%-12.50%
  • Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status
Types Interest Rates (p.a.)
Term Loan 11.00%-13.50%
  • Applicants of Other Corporates
Types Interest Rates (p.a.)
Term Loan 12.00%-14.00%


  • Processing Fees and Charges:
Pre-payment Charges 3% on prepaid amount. No prepayment/ foreclosure charges if an account is closed from the proceeds of a new loan account under the same scheme.
Penal Interest @ 2% per month


  • Eligibility Criteria:


  • Central/ State/ Quasi-Government, Central/ State PSU’s Nationally recognized Educational Institutes and selected corporates
  • Salary accountholders with SBI
  • Minimum Monthly Income- INR 50000
  • EMI/NMI Ratio- Less than 50%


  • SBI Pre-Approved Personal Loan (PAPL SBI offered through YONO App
  • Features: 
  • Low Processing Fees
  • Instant Loan Processing & Disbursement in just 4 clicks
  • No physical documentation
  • 24*7 availability through YONO & Internet Banking
  • No need to visit the bank


  • Eligibility Criteria:

SMS “PAPL<space><last 4 digits of SBI Savings Bank Account No.>” to 567676 to check your eligibility

  • SBI Real-Time Xpress Credit Personal Loan


  • Purpose: 

RTXC is a fully digitized personal loan available on YONO App that is designed especially for Govt. and Defence salary package customers.

  • Eligibility Criteria:
  • Govt/ Defense Salary Package account holders with KYC Compliant accounts.
  • Minimum Net Monthly Income:
    • >=Rs 15000/- for RTXC
    • >=Rs 100000/- for RTXC-Elite
  • Loan Amount:
    • Minimum Loan amount: Rs. 25000/-
    • Maximum Loan Amount: Rs 30,00,000/- for RTXC and Rs 35,00,000/- for RTXC Elite
  • EMI/NMI ratio: For RTXC: < 50%; For RTXC Elite :< 60%
  • Tenure: 

6 months to 6 years

  • Processing Fees: 

Up to 0.75% of the loan amount plus GST

  • SBI Quick Personal Loan
  • Purpose:

Weddings, vacations, unplanned emergencies, or a planned purchase.

  • Features: 
  • Loans up to INR 20 lakhs
  • Low-interest rates
  • Interest in daily reducing balance
  • Low processing charges
  • Minimal documentation
  • No hidden costs
  • Provision for a second loan
  • No security, no guarantor
  • Interest Rates: 

For customers not maintaining salary accounts with SBI – 0.25% higher than Xpress Credit Scheme for all Brackets

  • Eligibility Criteria: 
  • Individuals having Salary Account with any other Bank
  • Minimum Net Monthly Income: Rs. 15,000/-
  • EMI/NMI Ratio less than 50%
  • Employees working with
    • Central/ State/ Quasi Governments,
    • Central & State PSUs
    • Corporate (Private & Public Ltd.)
    • Educational institutions of National Repute
  • Age: 21-58 years
  • Minimum service of 1 year
  • Loan Amount
    • Minimum: Rs. 24,000
    • Maximum: Rs. 20,00,000 / 24 times NMI
  • SBI Pension Loan
  • Purpose: 

The central/ state govt., defence or family pensioners who are drawing their pensions from SBI can use the loan amount for their personal needs.

  • Loan Amount: 
  • For Central/ State Government Employees- Up to 14 lakh
  • For Defence Pensioners- Up to 14 lakh
  • For Family Pensioners- Up to 5 lakh
  • Eligibility Criteria: 
  • For Central/ State Govt pensioners:
  • Age- Up to 76 years
  • The pensioner should provide an irrevocable undertaking not to alter the mandate to the Treasury during the loan tenure
  • The Treasury should give in writing mentioning that no transfer of pension payment to any other bank without a NOC
  • All terms and conditions are applicable, including guarantee by a third party or by the spouse
  • For Defence Pensioners:
  • No minimum age bar under the scheme.
  • Navy, Army, Air Force, Paramilitary Forces, Coast Guards, Assam Rifles, Rashtriya Rifles
  • For Family pensioners:
  • Age- Up to 76 years
  • Features: 
  • Low Processing Fees
  • No hidden costs
  • Quick loan processing
  • Easy EMIs through SI
  • Minimal documentation.
  • You can Apply at all SBI branches
  • Interest Rates: 
2-year 2 year MCLR Spread over 2-year MCLR Effective Interest Rate with No Reset
SBI Pension Loan 8.60% 2.55% 11.15%
Jai Jawan Pension Loan 8.60% 2.55% 11.15%
Pension Loan Scheme For Treasury & PSU Pensioners 8.60% 2.55%-3.05% 11.15%-11.65%
Pre-Approved Pension Loans(PAPNL) 8.60% 2.55% 11.15%
Pre-approved Insta Pension Top-Up 8.60% 2.55% 11.15%


  • Tenure: 
  • For Central/ State Government Employees- Up to 5 years
  • For Defence Pensioners- Up to 7 years
  • For Family Pensioners- Up to 5 years
  • SBI Xpress Flexi Personal Loan


  • Purpose: 

It is an overdraft facility offered to salaried employees having a diamond or a platinum category salary account.

  • Features: 
  • Overdraft facility up to ₹25 lakhs, with reduced Drawing Power
  • Facility to deposit surplus funds in the loan account to reduce interest burden
  • Auto liquidation at the end of loan tenure
  • Low-interest rates
  • Low processing charges
  • Minimal documentation
  • No annual maintenance charges
  • No hidden costs
  • No security, no guarantor
  • No pre-payment penalty
  • Loan Amount: 

INR 1 lakh to INR 25 lakh, subject to 24 times net monthly income.

  • Tenure: 

6 months to 6 years

  • Eligibility Criteria: 
  • Individuals having Diamond & Platinum category Salary Package Account with SBI
  • Minimum Net Monthly Salary: ₹50,000/-
  • Employees working with
    • Central/ State/ Quasi Governments,
    • Defense/ Central Armed Police/ Indian Coast Guard,
    • Central & State PSUs
    • Corporates (Private & Public Ltd.)
  • Loan Amount:
    • Minimum: Rs. 1,00,000
    • Maximum: Rs. 25,00,000, subject to 24 times NMI & EMI/NMI Ratio up to 65%
  • Interest rates: 

0.25% higher than

  1. Xpress Credit scheme for Diamond Salary Package customers and
  2. Xpress Elite scheme for Platinum Salary Package customers

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