SBI Personal Loan Online in 2025 - Get Up to ₹20 Lakhs

SBI Personal Loan Eligibility

The eligibility criteria that prospective borrowers will have to meet to avail a personal loan from State Bank of India are as follows:

Eligibility for Xpress Credit Personal Loan

1. The loan applicant's minimum net monthly income (NMI) should be Rs.15,000.
2. The EMI/NMI Ratio should not be above 50%.
3. The applicant should be an employee at any of the following organizations:
   1. Central and state governments
   2. Central and state PSUs
   3. Educational institutions with a national reputation
   4. Quasi-government
4. Certain corporates that have an exclusive business relationship with SBI
5. Companies that do not have any business relationship with SBI OR any Emigration Check Required (ECR), subject to specific terms and conditions.

Eligibility for SBI Pension Loan

1. You will need to be a central or state government pensioner, defence pensioner or a family pensioner to apply for this loan scheme offered by SBI. A family pensioner is the spouse of a pensioner who is allowed to obtain pension when the pensioner dies.
2. The pensioner, as well as, the family pensioner's age should not be above 76 years.
3. For pensioners whose pension is disbursed by government treasuries, the concerned pensioner will need to give a mandate to the treasury to make the pension payment to the particular bank branch.
4. A defence pensioner can be any pensioner of the armed forces.

Eligibility for SBI Pre-Approved Personal Loan

To know whether you are eligible for a pre-approved loan from SBI, send an SMS in this format - "PAPL  to 567676.

Eligibility for SBI Quick Personal Loan

The eligibility criteria you will have to fulfil in order to avail this personal loan scheme are:

1. You must have a salary account with another bank.
2. The minimum and maximum age of eligibility for this scheme are 21 years and 58 years respectively.
3. You must have a minimum work experience of 1 year.
4. You must be drawing a minimum monthly income of Rs.15,000.

Documents Required to Apply for SBI Personal Loan

Types of SBI Personal Loans

Overview of SBI Xpress Credit Loan

Key Highlights

1. Low processing fees.
2. Maximum loan amount of up to Rs.20 lakh.
3. Lowest interest rate offered is between 10.30% p.a. and 15.30% p.a.

SBI Pension Loan: Features & Benefits

Key Highlights

1. Quick disbursal of loan amount.
2. Low processing fees
3. Minimal documentation required.
4. Interest Rate - 11.60% p.a. to 12.10% p.a.
5. Loan Amount - At the discretion of the bank

SBI Pre-approved Personal Loans (PAPL): Eligibility & Benefits

Key Highlights

1. The loan will be instantly processed.
2. Low processing fee.
3. The interest rate will be low and affordable - From 14.10% p.a. to 14.60% p.a.
4. Loan Amount - At the discretion of the bank

SBI Pre-Approved Personal Loan (PAPL)

You can get instant personal loans at any time with SBI Pre-Approved Personal Loans (PAPL).

Use the YONO app to avail this loan at the comfort of your home.

The service is available 24*7.

However, note that only the bank can determine who all are eligible for this loan.

To check your eligibility, you can SMS "PAPL  " to 567676.

SBI Personal Loan Fees and Charges 

The various types of fees and charges that are levied by State Bank of India for personal loans are as follows:

*3% will be levied on the prepaid amount if the borrower makes a part or full pre-payment and closes the loan account before the completion of the loan term

How to Calculate SBI Personal Loan EMI

Consider a scenario where a person earning Rs.40,000 per month takes a personal loan of Rs.1 lakh under the SBI Xpress Credit personal loan scheme. The bank charges an interest rate of 11.45% p.a. on the loan amount. For a loan repayment tenure of 1 year, he must pay an EMI amount of Rs.8,859 every month. His loan repayment schedule is given as follows:

SBI Personal Loan vs. Other Banks – A Detailed Comparison

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