SBBJ Personal Loan Interest Rate 2017

Personal Loans

Live your life with peace and harmony as State Bank of Bikaner and Jaipur is here with Personal Loan. Yes, no matter what your financial are, such as medical expenses, credit card debt, home renovation or travelling to your favourite destination, SBBJ caters to all your personal needs by fulfilling all your dreams. You can avail loan to fulfill any of your personal requirements, be it the education of your child or purchasing new furnitures or fixtures. So, without any further delay, let's discuss more about State Bank of Bikaner and Jaipur Personal Loan in the article below.

State Bank of Bikaner and Jaipur Personal Loan Details

ParticularsDetails
Interest Rate 13.05%-14.05% p.a.
Loan Amount ₹50,000-₹15 Lakh
Tenure 60 Months
Processing Fee 1% of the loan amount

Eligibility Criteria for State Bank of Bikaner and Jaipur Personal Loan

  • The applicant should be a permanent employee of either a reputed PSU, government organization or a decent private company
  • The individual should have a minimum net monthly income of ₹9,000
  • Should be at least 21 years of age and less than 58 years 

State Bank of Bikaner and Jaipur Personal Loan Eligibility

The eligibility of the candidate is calculated on various factors such as the income of the applicant, monthly expenses, loan tenure and the amount of loan applied for. However, there are other factors that affect the loan eligibility of the candidate. These other factors include the credit history of the individual and the repayment track.

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For Example – An employee earning ₹1,00,000 per month is able to save 50% of his income which is ₹50,000. He wants to apply for the loan at SBBJ Bank. The bank officers will assess his loan eligibility on the basis of his repayment capacity. Let’s see how is this disbursal amount decided by the bank when:
Amount- ₹1 Lakh
Loan Tenure-5 years
Rate of Interest-13.05%-14.05% p.a.

The calculation is as follows:-

₹1 Lakh x 50000/2212= ₹21.94 Lakhs – ₹21.46 Lakhs

So, the personal loan amount eligibility would range between ₹21.46-21.94 Lakhs and the monthly installment payable will range from ₹2,278-2,329.

State Bank of Bikaner and Jaipur Personal Loan EMI Calculator

The candidates applying for a personal loan at SBBJ can calculate the installment amount using the EMI Calculator. The calculator operates on a mathematical formula and computes the total interest charged on the loan during the tenure. It reveals the total repayment amount when the loan details like amount, tenure and rate of interest is entered in the calculator. 

For Example: On a loan of ₹5,00,000 taken from SBBJ for 5 years, the bank charges interest at the rate ranging between 13.05%-14.05% per annum, the EMI, total interest outgo and total amount payable will be ₹11,389-11,647, ₹1,83,360-1,98,825 and ₹6,83,360-6,98,825 at the end of the loan tenure.

Check the table below to know the EMI and interest outgo on various tenure:

Table showing EMI, interest outgo and total amount payable on your personal loan

Loan Amount
(in ₹)
Loan Tenure
(in Years)
Interest Rate
(in p.a.)
EMI
(in ₹)
Total Interest Outgo
(in ₹)
Total Amount (EMI+Interest)
(in ₹)
5,00,000 113.05%-14.05%  44,670-44,905 36,044-38,864 5,36,044-5,38,864
5,00,000 213.05%-14.05% 23,783-24,018 70,784-76,438 5,70,784-5,76,438
5,00,000 313.05%-14.05% 16,859-17,101 1,06,925-1,15,635 6,06,925-6,15,635
5,00,000 413.05%-14.05% 13,426-13,676 1,44,456-1,56,438 6,44,456-6,56,438
5,00,000 513.05%-14.05% 11,389-11,647 1,83,360-1,98,825 6,83,360-6,98,825
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Amortization Table

Year Principal Payment
(in ₹)
Interest Outgo
(in ₹)
Balance Amount
(in ₹)
175,848-74,171 60,820- 65,593 424,152- 425,829
286,361-85,288 50,307 -54,476 337,791-340,541
398,329-98,074 38,339-41,690 239,462-242,467
4111,958-112,776 24,710-26,988 127,504-129,691
5127,627-129,826 9,195-10,082

Documentation Required for State Bank of Bikaner and Jaipur Personal Loan

Below is the list of documents required to avail a loan from the bank:

Salaried Self-employed
Signed Application Form with Photograph Signed Application Form with Photograph
Copy of Passport/Voter ID/Driving License Copy of Passport/Voter ID/Driving License
Processing Fee Cheque Processing Fee Cheque
Last 3 Months Bank Statement/6 Months Bank Passbook Last 3 Months Bank Statement/6 Months Bank Passbook
Latest Salary Slip Latest Bank Statement
Current Dated Salary Certificate with Latest Form16 Latest ITR or Form16

Features & Benefits of State Bank of Bikaner and Jaipur Personal Loan

What makes SBBJ Personal Loan different from others are the following features and benefits:

  • Loan Amount ranging from ₹50,000 – 15,00,000
  • Flexible loan repayment options
  • Minimal Documentation
  • Fast Approvals

(Updated on 5th January 2017)