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About SBI (State Bank of India)

State Bank of India (SBI) is one of the largest public sector banks in India, which was launched in the first decade of the nineteenth century. Since its inception, SBI has played a major role in establishing the banking sectors by way repositories to savings and lenders to leading business across India. SBI along with its 5 associate banks which got merged recently has a network of over 13000 branches located in every nook and corner of India. SBI has played a key role in the economic development of India.

State Bank of India, of India’s largest public sector bank, offers personal loans for various personal requirements faced by people in their daily lives. Personal loans offered by SBI are one the most sought among customers because of the attractive interest rates, low processing charges combined with seasonal offers from time to time, which reduces the EMI amount. SBI provides a range of personal loan products catering to different needs be it business expansion, debt consolidation, foreign vacations, marriage, home renovation and medical emergencies etc. Personal loans in SBI is available without any security or collateral to ensure quick repayment of the personal loan amount, an SBI personal loan can get approved maximum 2-3 days provided all required documents are met by the applicant. Getting a personal loan in SBI is made simple and fast as the application process is hassle free to ensure easy and quick approval of the personal loan. Getting an SBI personal loan in Bangalore is very easy as the customers can avail for SBI personal loan online by sitting at home with minimum documentation, quick loan sanctions, monthly EMI calculators and much more features.

Key Features of SBI Personal Loane

  • SBI personal loans are a multipurpose loan which can be taken for any occasions such as weddings, home renovations, higher education funding, emergency health issues etc.
  • SBI offers different types of Personal Loans to their customers like SBI Xpress Credit Personal Loan, SBI Saral Personal Loan, SBI personal loan to pensioners and SBI Festival Personal Loan
  • SBI Personal Loans are easy loans which can be availed by the customer without any collateral security and easy EMI options.
  • SBI Personal Loan offers attractive interest rates, smaller EMIs and easier for the customer to repay the personal loan amount.
  • SBI offers personal loans with flexible repayment options and also offers part prepayment of the personal loan at zero cost.
  • SBI Personal Loans can be availed from a minimum of Rs.24, 000 to a maximum of Rs.20 Lakhs with easy loan repayment options ranging from 1 to 5 years.
  • SBI offers personal loans with easy documentation process with 100% transparency.
  • There is absolutely no hidden charges, reasonable and lowest processing fee and convenient repayment options.
  • Dedicated round the clock customer care for personal loan customer
  • Multiple personal loan options depending on customer requirement

Apply SBI personal loan

Personal Loan Eligibility Calculator

  • INR
  • Year
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  • Eligible Loan Amount
  • Monthly EMI
SBI personal loan interest rate in Bangalore as on
Service type Service Charges
Interest rate Starting from 12.50% - 16.60%
Loan Processing charges 2% to 3% of the loan amount
Prepayment Allowed after 0 EMI's, 3% of prepaid amount
Foreclosure Charges Allowed after 1 EMI's, 3% of prepaid amount
Required documents to apply SBI Personal Loan in Bangalore
  • Identity Proof: copy of passport/voter ID card/ driving license
  • Address Proof: Copy of ration, telephone or electricity bill/rental agreement/passport
  • Bank statement for last 3 months/passbook for last 6 months
  • Latest salary slip / current dated salary certificate with latest form 16
  • Photograph and PAN card photocopy
  • Education proof / Employment proof
Salient Features of SBI Personal Loan
  • SBI offers a high amount as personal loan compared to other banks
  • Attractive and lowest rate of interest offered by SBI personal loan
  • Fast disbursal and approval of SBI personal loan in 2-3 days
  • SBI offers specific personal loan schemes for every borrower
  • Wide network of operation enables loan applications at almost every location in India

SBI provides its customers various types of personal loans based on their unique requirements. SBI personal loans can vary on the basis of key requirements like income level, loan applied, loan tenure,

SBI Xpress Credit Personal Loan

SBI Xpress Credit Personal Loan is available for those requiring urgent cash requirements like unexpected medical emergencies.

SBI Saral Personal Loan

SBI Saral Personal Loan offered by SBI with the following features and benefits:

  • his type of loan is offered for customers who are taking a vacation, marriage, home renovation etc.
  • Loan amount starts from Rs.24, 000 to maximum of Rs.10 Lakhs.
  • A processing charge of 2 to 3 % of the outstanding loan amount.
  • Maximum loan eligible is 12 times the net monthly income
  • Loan repayment tenure is 4 years with pre-payment facility.
SBI Personal Loans to Pensioners

SBI Personal Loan to Pensioners is offered by SBI with the following features and benefits:

  • This type of loan is offered for customers who are taking a vacation, marriage, home renovation etc.
  • Loan amount starts from Rs.24, 000 to maximum of Rs.10 Lakhs.
  • The processing fee for SBI Pension loan is @0.50% of the loan amount minimum of which is Rs.500.
  • Maximum loan eligible is 12 times the net monthly income
  • Loan repayment tenure is 4 years with pre-payment facility.
SBI Festival Personal Loan

India being a land of different religions and customs offers a personal loan to meet festival related expenses faced by an individual. The benefits and features of SBI personal loan are as follows:

  • Very low-interest rates compared to the rates charged by other banks
  • A very low processing charge of 1.10% of the amount is charged for processing the loan.

SBI Personal loan bangalore customer reviews

  • Recently I had applied for a personal loan from SBI in Bangalore and it was approved instantly with the rate of interest as low as 11.49%... I am using the services of SBI since 5 years. Thank you SBI
    Azhar

  • Hi, I just applied for a personal loan from SBI, Bangalore, and last week, I got my personal loan approved at 12. 95% only. I am very happy with their services and the loan processing is also very fast with minimal documentation process. Thanks.
    Sunil

  • SBI is my first choice as I am very happy with the way they provide their services. I got my personal loan approved in no time and got my dreams fulfilled. I surely recommend SBI personal loan to all my friends.
    Venkatesh Naik

  • Very excited to receive my personal loan amount from SBI as I could travel abroad with my family for a dream vacation. The rate of interest was just 12.50 % with quick verification and documentation process. SBI products and services are really good.
    Darshan

  • The personal loan by SBI is very good. They have a very quick and hassle free documentation process.
    Neha

  • Since it was the first time I was applying for any personal loan product. My friend recommended me to apply for an SBI express credit personal loan as it had very low rate of interest on my personal loan amount i.e. 12.45% p.a. I applied and got my personal loan approved within a week. Thanks SBI
    Niraj

  • I am a very old customer of SBI and very happy the way they provide their services. Their bank personnel is very professional and very helpful when it comes to personal loan services in Bangalore. I recommend SBI to all my friends and colleagues.
    Prathik

Frequently Asked Questions(FAQ)

SBI Frequently Asked Questions(FAQ)

What are my personal loan limits??

Your personal loan limit would be determined purely by your income and repayment capacity. Personal loans from SBI can be availed by salaried individuals or self-employed professionals ranging from a minimum of 2 Lakhs to a maximum of 10 Lakhs.

Does SBI allow my wife’s income to be included in calculating the personal loan amount?

Yes, you can include your wife’s income provided she guarantees the personal loan amount you have applied.

Do I have to pledge some form of security for getting an SBI personal loan?

Getting an SBI personal loan doesn’t require any security.

Can I prepay my personal loan? Are there any penalties?

No prepayment penalty charges are applicable. You can prepay your personal loan partly or fully, at any stage.

What is the processing fee? Are there any hidden costs or other charges?

Processing charges are usually charged 1 percent of the loan amount. There are absolutely no hidden costs or other charges involved.

Does SBI provide me the option of choosing the interest rate?

Yes, you have the option to avail the SBI personal loan with either a fixed or a floating rate of interest.

What is the difference between a fixed and a floating rate of interest?

In the case of a fixed rated loan, the interest rate on the loan would remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could rise or fall in line with SBI’s Medium Term Lending Rate ( SBMTLR).

What are the advantages of availing an SBI personal loan compared to other banks?
  • SBI personal loans are totally transparent with regard to the rate of interest and processing fee charged by other banks
  • Cheap rate of interest and no collateral security required
  • We offer personal loans for the longest tenure (48 months), with flexible prepayment options without any penalty.
  • With SBI personal loan, you can choose between fixed rate of interest and floating rate of interest.
  • Interest is calculated on a daily/ monthly reducing balance
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