SBI Personal Loan Interest Rate

SBI Bank is a popular lender when it comes to loans. Borrowing an unsecured loan, such as a personal loan, can be advantageous when you have SBI as your lender. The bank offers a wide range of schemes to provide funds to people in all categories.

The minimum rate at which you can borrow an SBI personal loan is 10.30% per annum. This is the lowest competitive interest rate in India. Plus, with the trust of SBI, there is the reliability you are looking for.

Check out the SBI personal loan interest rates and their benefits!

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SBI Personal Loan Details

Aspect
Details
Loan Amount
Up to Rs. 30 Lakhs
Interest Rate
10.30% - 15.30% p.a
Tenure
6-84 months
Processing Fee
1.5% of the loan amount

SBI Personal Loan Interest Rate Today

Scheme
Interest Rate
SBI Xpress Credit Personal Loan
11.15% to 12.65%
SBI Pre-approved Personal Loan (PAPL) on YONO
13.80% to 14.30%
SBI Real Time Xpress Credit Personal Loan
11.15% - 13.80%
SBI Quick Personal Loan
11.40% to 12.90%
SBI Pension Loan
11.30%
SBI Xpress Flexi Personal Loan
11.40% to 12.90%
SBI Xpress Elite
11.15% to 11.65%

Get the funds you need today!

Flexible Terms? or Quick Approval? or Low Interest Rates?
What is it that you need. We have it all.

Factors Influencing SBI Personal Loan Rates for Salary Account Holders

Loan Amount

The bank does offer a high loan limit on personal loans, but you have to be careful while borrowing. Because borrowing a high amount makes you a risky borrower, resulting in a high interest rate.

Loan Term

SBI Bank gives you a longer-term loan option, extending the tenure of your loan up to 84 months. It sure is advantageous in terms of affordability, but in the long run, this could cost you more interest payment. So, avoid opting for a longer-term loan.

Relationship with Bank

Being an SBI customer has many advantages, and this is also reflected in your personal loan interest rates. You will get a lower interest rate offer when you have an existing bank account.

Monthly Earnings

The minimum income to apply for an SBI personal loan is Rs. 25,000. But it isn’t enough to secure your loan at an affordable rate. By showing your alternate income, such as income from rent, spouse income, income from investments, etc., you can get a lower rate of interest.

Credit Score

The minimum CIBIL score required to avail of an SBI Personal Loan is 650 (For Defence and Government employees). For corporate salary package account holders, the minimum CIBIL score required is 670. Ensure you meet the minimum to be eligible for the loan.

Get the funds you need today!

Flexible Terms? or Quick Approval? or Low Interest Rates?
What is it that you need. We have it all.

How to Take Personal Loan From SBI at Lower Rates?

Below are some tips to help you get a lower interest rate on SBI personal loans:

  • right-arrowMaintain a CIBIL score of 750 and above to prove you’re a reliable borrower.
    right-arrowIf you can’t provide an alternate income to increase your loan limit, add a co-borrower to boost your profile’s credibility.
    right-arrowKeep an eye on SBI festive offers to save on processing fees or interest rates.

    • Frequently Asked  Questions

    What is the current interest rate of SBI personal loans?
    Do salary account holders get lower interest rates on SBI personal loans?
    What is the type of interest rate charged by SBI Bank?
    How can we negotiate for a lower interest rate with SBI Bank?
    What is the EMI for Rs. 20 Lakh in SBI?
    What is the interest rate for a 1 lakh SBI personal loan?
    Can we close the SBI personal loan early?
    Is the SBI personal loan interest rate fixed or floating?
    Which documents do I need to apply for an SBI personal loan offline?
    How to check SBI personal loan balance?