SBH Personal Loan

About SBH Personal Loan

Life comes once and so you are tempted to get all your wishes come true. You want to live your dreams, which could either be buying a 4-wheeler or a luxurious house or meeting the travel phobia in you. All that require money, and you may not be able to achieve some or any of them from your own resources. There comes the role of a bank that can let you achieve your dream via a personal loan, which can be availed for marriage, education, buying a car or home, to name a few. And the name of that bank which can do all that at affordable cost is State Bank of Hyderabad (SBH), which is now merged with SBI. The bank can offer you a suitable personal loan to suit your taste. Moreover, the attractive interest rates and flexible repayment options only add to your benefits. Get ready to fulfill your wishes with SBH Personal Loan as we chart out the details for you on a sequential basis.

SBH Personal Loan Details

ParticularsDetails
Interest Rate14.70%-16.75% p.a.
Loan AmountUp to 7.5 Lakh
Tenure3 Years
Processing Fee1% of the loan amount
Prepayment ChargesNil

SBH Personal Loan Eligibility Criteria

  • Age at least 21 at the time of application and less than 55 years during the time the loan is about to expire.

    The employees of State, Central, Semi-Government and profit making PSUs are eligible to apply.

    They need to serve a minimum of three years in their present organization.

    The employees of Private Sector Companies should have a rating of at least 1 to 3 with SBH.

    Like PSU counterparts, private sector employees are also required to serve a minimum of 3 years in their current organization.

SBH Personal Loan Eligibility

The eligibility of an applicant depends on the income profile and savings. If a person is working in an MNC and handsome in-hand salary, he/she is most likely to get better rates and higher loan amount. You can take a cue from the below example to know the assessment of your eligibility for a personal loan at SBH.

Example- You are serving as a Chief Manager in a reputed firm. Your take home remuneration is Rs. 80,000 monthly. Obviously, you have to make provision for some expenses, which after deduction of your income, say results to 40,000. SBH will view the savings to be a good one as a portion of the amount can easily be diverted towards the repayment of the loan without making a hole in your wallet. Your personal loan eligibility assessment will be undertaken by a smart device called SBH Personal Loan Eligibility Calculator. What the calculator will do is to bring forth the per lakh EMI first. If you are new to the loan market, you should get acquainted with this concept. The calculation of the said variable is done by using the maximum loan tenure and the existing rate of interest.

Amount-Rs.1 Lakh
Loan Tenure-3 years
Rate of Interest-14.70-16.75 p.a.
Per Lakh EMI will be Rs.3,452-3,553

Personal Loan Eligibility Calculation- Rs. 1,00,000 x savings/per lakh EMI

Rs. 1,00,000 x 40,000/3,452= Rs. 11.58 lakhs

– Rs. 1,00,000 x 40,000/3,553= Rs. 11.26 lakhs

A personal loan of Rs. 11.26 lakhs-11.58 lakhs at SBH is up and ready for you to pick it.

SBH Personal Loan EMI Calculator

When you think of the loan repayment, the first thing that dominates your mind is the amount of EMI you are obligated to pay. So, you must know how it is calculated by SBH on your personal loan. Here, the personal loan EMI calculator of the bank takes centre stage. You just need to feed loan amount, tenure and interest rate in the calculator to view the EMI. You will also be updated on the interest outgo and overall amount liability on a loan. The interest component will be calculated before the principal amount.

Example: You want to avail a home loan of Rs. 7 lakhs from SBH for 3 years at the existing interest rates. Taking all that into count, the EMI, total interest outgo and total amount payable from your pocket will be Rs. 24,163-24,870, Rs.1,69,869-1,95,316, and Rs. 8,69,869-8,95,316 till the expiry of the loan tenure.

Glance down to the table below to find out the loan outgo at specific time periods.

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

Loan Amount
(in Rs.)
Loan Tenure
(in Years)
Interest Rate
(in p.a.)
EMI
(in Rs.)
Total Interest Outgo
(in Rs.)
Total Amount (EMI+Interest)
(in Rs.)
7,00,000114.70%-16.75%63,082-63,76056,981-65,1247,56,981-7,65,124
7,00,000214.70%-16.75%33,841-34,5261,12,183-1,28,6138,12,183-8,28,613
7,00,000314.70%-16.75%24,163-24,8701,69,869-1,95,3168,69,869-8,95,316
   

Amortization Table

YearPrincipal Payment
(in Rs)
Interest Outgo
(in Rs)
Balance Amount
(in Rs)
1200,187-195,768 89,769-102,672499,813-504,232
2231,682-231,19858,274-67,242268,131- 273,034
3268,423-273,37621,827-25,4000

Documentation Required for SBH Personal Loan

Salaried Self-employed
Signed Application Form with PhotographSigned Application Form with Photograph
Copy of Passport/Voter ID/ Driving LicenseCopy of Passport/Voter ID/ Driving License
Processing Fee ChequeProcessing Fee Cheque
Last 3 Months Bank Statement/6 Month Bank PassbookLast 3 Months Bank Statement/6 Month Bank Passbook
Latest Salary SlipLatest Bank Statement
Current Dated Salary Certificate with Latest Form16Latest ITR or Form16

Features & Benefits of  SBH Personal Loan

  • Higher Loan Amount
  • Convenient Loan Repayment Options
  • Both Residential and Commercial Property Accepted as Collateral
  • Minimal Documentation
  • Quick Loan Approvals
  • Attractive Interest Rates

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EMI Calculator