SBI Personal Loan Interest Rates

Interest Rates 2017 887 views

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About SBI Personal Loan Interest Rate 2017

State Bank of India, country’s largest bank with an asset size of ₹37 Lakh Crore along with a happy customer base of 500 million. The bank offers the personal loan at attractive rates. Read the page further to know the same.

SBI Personal Loan Rates for New Customers

The bank is worldwide known for offering the best of financial products to meet the diverse needs of one and all. And, SBI Personal Loan is one such credit facility which is offered by the bank to those who are in urgent need of funds to fulfill their personal needs. Currently, SBI offers the personal loan to all the new customers/borrowers at an interest rate of 11.90%-14.90% per annum. The new customers can avail the loan at competitive rates offered by SBI and enjoy their personal loan journey.

To know more about the SBI Personal Loan Rates, do check the tables below.

Personal Loan ( Unsecured)

Xpress Credit to Employees of Rated Corporates

Facility TypeCheck Off CategoryRating2 year MCLRSpread over 2 year MCLREffective Interest RateReset Period
Term LoanCheck OffA- and above8.10%3.80%11.90%No Reset
Term LoanCheck OffBBB+ and below8.10%4.30%12.40%No Reset
Term LoanNo Check offA- and above8.10%5.90%14.00%No Reset
Term LoanNo Check offBBB+ and below8.10%6.40%14.50%No Reset
OverdraftCheck OffA- and above8.10%4.05%
12.15%No Reset
OverdraftCheck OffBBB+ and below8.10%4.55%12.65%No Reset
OverdraftNo Check offA- and above8.10%6.15%14.25%No Reset
OverdraftNo Check offBBB+ and below8.10%6.65%14.75%No Reset

Xpress Credit to Employees of Unrated Corporates

Facility TypeCheck Off CategoryCredit Bureau Score2 year MCLRSpread over 2 year MCLREffective Interest RateReset Period
Term LoanCheck Off≥8008.10%4.55%
12.65%No Reset
Term LoanCheck Off700 - 799
8.10%5.05%
13.15%No Reset
Term LoanNo Check off≥ 800
8.10%5.40%
13.50%No Reset
Term LoanNo Check off700 - 799
8.10%6.65%
14.75%No Reset
OverdraftCheck Off≥ 800
8.10%4.80%
12.90%No Reset
OverdraftCheck Off700 - 799
8.10%5.30%
13.40%No Reset
OverdraftNo Check off≥ 800
8.10%5.65%
13.75%No Reset
OverdraftNo Check off700 - 799
8.10%6.90%
15.00%No Reset

Scheme1 year MCLRSpread over 1 year MCLREffective Interest RateReset Period
Xpress Elite8.00%
3.40% - 7.15%11.40% - 15.15%1 Year

Scheme2 year MCLRSpread over 2 year MCLREffective Interest RateReset Period
Xpress Credit - IT Employees
8.10%4.80% - 6.80%12.90% - 14.90%No Reset
Xpress Credit - Non-Permanent Employees (NPEs)8.10%4.30% - 6.65%12.40% - 14.75%No Reset

Scheme2 year MCLRSpread over 2 year MCLREffective Interest RateReset Period
SBI Pension Loan8.10%4.35%12.45%No Reset
Jai Jawan Pension Loan8.10%4.35%12.45%No Reset
Pension Loan to Coal Mines Provident Fund (CMPF) Pensioners8.10%4.35%12.45%No Reset
Xpress Credit - IT Employees8.10%4.80%-6.80%12.90%-14.90%No Reset
Clean Overdraft8.10%8.45%16.55%No Reset
OD for e-commerce purchases8.10%5.50%13.60%No Reset
Xpress Credit-Non-Permanent Employees (NPEs)8.10%4.30% - 6.65%12.40% - 14.75%No Reset

Tenor-wise MCLR effective from 1st September 2017 will be as under:

TenureExisting MCLR (in %)
Over night7.75
One Month7.85
Three Month7.90
Six Month7.95
One Year8.00
Two Years8.10
Three Years8.15%

SBI Personal Loan Balance Transfer Rates

If your existing personal loan rates are higher and you want to save more on your interest and EMIs, all you need to do is just switch to SBI Personal Loan. You can opt for Balance Transfer Facility, wherein you can transfer your existing outstanding balance of PL to SBI at an attractive rate of 11.90% per annum.

SBI Personal Loan EMI Calculator

So now that you know the interest rates offered by SBI, it is also important that you should know about your EMIs. How much amount do you need to pay each month to the lender? Yes, the same question strikes the mind of the loan borrowers. And, in order to get the answer of the same, you just need to use online personal loan EMI Calculator. This smart tool gives you the calculation of EMI, Interest and Total Amount Payable in just a few seconds after taking into account-Loan Amount, Tenure and Interest Rate.

 

 

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