SBI Personal Loan Interest Rates

Highlights

  • Avail SBI Personal Loan at an Attractive Interest Rate
  • With lowest interest rates minimize your loan repayment burden

Imagine availing a personal loan from country’s largest lender, i.e. SBI that an attractive interest rate that reduces your repayment burden? Sounds appealing, right? Well, of course, it is! Check out the updated interest rates of SBI to enjoy a hassle-free personal loan journey. Know more about the latest interest rates of SBI below.

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About SBI Personal Loan Interest Rate

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 10.75%-15.15% 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  (w.e.f.01.06.2018)

Facility TypeCIBIL TU Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset Period
Term LoanNo Check off8.35%
3.40%-6.40%11.75% -14.75%
Term LoanCheck Off8.35%2.90% -5.90%11.25% -14.25%
OverdraftNo Check off8.35%3.90% - 6.90%12.25% -15.25%
OverdraftCheck Off8.35%3.40% -6.40%11.75% -14.75%

The Effective Interest Rate is charged based on the External Credit Rating of the employer, creditworthiness of the borrower etc.

SBI Xpress Bandhan (w.e.f.01.06.2018)

GenderFacility TypeCheck Off CategoryRating2 Year MCLRSpread Over 2 Year MCLREffective Interest Rate with No Reset
FemaleTerm LoanCheck OffA- and above8.35%

3.90%12.25%
FemaleTerm LoanCheck OffBBB+ and below8.35%

4.40%12.75%
FemaleTerm LoanNo Check OffA- and above8.35%

6.00%14.35%

FemaleTerm LoanNo Check OffBBB+ and 8.35%

6.50%14.85%

FemaleOverdraftCheck OffA- and above8.25%

4.15%12.50%

FemaleOverdraftCheck OffBBB+ and below8.35%

4.65%13.00%

FemaleOverdraftNo Check OffA- and above8.35%

6.25%14.60%

FemaleOverdraftNo Check OffBBB+ and below8.35%

6.75%15.10%

MaleTerm LoanCheck OffA- and above8.35%

4.05%12.40%
MaleTerm LoanCheck OffBBB+ and below8.35%

4.55%12.90%

MaleTerm LoanNo Check offA- and above8.35%

6.15%14.50%
MaleTerm LoanNo Check offBBB+ and below8.35%

6.65%15.00%
MaleOverdraftCheck OffA- and above8.35%

4.30%12.65%
MaleOverdraftCheck OffBBB+ and below8.35%

4.80%13.15%
MaleOverdraftNo Check offA- and above8.35%

6.40%14.75%
MaleOverdraftNo Check offBBB+ and below8.35%

6.90%15.25%

Xpress Credit:IT Employees Scheme (w.e.f.01.06.2018)

Credit Info Bureau Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset Period
750 and above8.35%4.80%13.15%
550 - 7498.35%5.80%14.15%
Less than 550 / No Score8.35%6.80%15.15%

Xpress Credit – Non-Permanent Employees (NPEs) (w.e.f.01.06.2018)

Employer TypeRate of Interest
Central and State Government, Quasi-Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National ReputeCheck-off Category-I * :
430 bps above 2 yr MCLR i.e. 12.65%
Check-off Category-II * :
640 bps above 2 yr MCLR i.e. 14.75%
Co-operatives/ Institutions not covered under regular Xpress Credit loan scheme and Unrated CorporatesCheck-off Category-I * :
505 bps above 2 yr MCLR i.e. 13.40%
Check-off Category-II * :
665 bps above 2 yr MCLR i.e. 15%

Xpress ELITE Scheme-SBI Salary Package A/C Holders (w.e.f.01.06.2018)

Credit Info Bureau Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
800 and above8.35%2.40%10.75%
700 - 7798.35%2.90%11.25%
600-699 / No Score8.35%3.90%12.25%
Less Than 600NO LOAN

Other than Salary Package A/c Holders (including Applicants not maintaining Salary A/c with the Bank)(w.e.f.01.06.2018)

Credit Info Bureau Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
800 and above8.35%2.65%11%
700 - 7798.35%3.15%11.50%
600-699 / No Score8.35%4.15%12.50%
Less Than 600NO LOAN

Other Unsecured Personal Loans (w.e.f.01.06.2018)

Scheme2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
SBI Pension Loan8.35%3.35%11.70%
Jai Jawan Pension Loan8.35%3.35%11.70%
Pension Loan to Coal Mines Provident Fund (CMPF) Pensioners8.35%3.35%11.70%
Clean Overdraft8.35%8.45%16.80%
OD for e-commerce purchases8.35%5.50%13.85%

Scheme2 Year MCLRSpread Over 2 Year MCLREffective Interest Rate with No Reset
Pre-Approved Personal Loans8.25%5.60%13.85%
SBI-Tatkal e-Personal Loan8.25%5.60%13.85%

 

Tenor-wise MCLR effective from 1st July 2018 will be as under:

TenureExisting MCLR (in %)
Over night7.90
One Month7.90
Three Month7.95
Six Month8.10
One Year8.25
Two Years8.35
Three Years8.45

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 starting from 10.65% per annum.Isn’t it great?

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.

SBI Personal Loan Interest Rate for Defence Personnel

State Bank of India (SBI) under its Xpress Credit Scheme for Non-Permanent Employees offers a personal loan to defence personnel at an interest rate ranges between 12.65%-14.75% per annum. This renowned bank under its personal loan segment caters the diverse needs of one and all and ensures that defence personnel should also be covered so that they can fulfill their varied personal needs.

SBI Personal Loan Contact Number

For any complaint, query, concern or feedback, you simply need to get in touch with the customer care executives of the bank. Dial 1800 425 3800(toll-free) either from your landline or mobile and talk to the experts to get the best solutions in the least time frame. These experts are always there to listen to you and give you a proper guidance 24×7 via this helpline number.

SBI Personal Loan Status

Now knowing the status of your SBI personal loan is no more a hassle as you can easily know the same with the help of an online facility. Yes, you can anytime check the real-time status of your personal loan by simply login to your account. You can know the status of your loan in just a few minutes, i.e. whether your application has been approved, pending or rejected and for what reason. The online facility allows you to know all this and much more so that you can have a hassle-free loan journey.

SBI Personal Loan Eligibility Calculator

In case you want to know how much loan amount you are eligible to get from a lender, all you need to do is just use SBI personal loan eligibility calculator. Yes, this online device after taking into account-Loan Amount, Income, Monthly Expenses and other credentials allows you to know the exact loan amount you are eligible to get from a lender. With the help of this device, you can take a calculative move and plan your loan accordingly.

SBI Personal Loan Interest Rate for Salary Account

Those who are maintaining the salary account with the bank would be glad to know that it is easy for them to get the attractive interest rates. Yes, the bank after taking into account the credit score of an applicant along with the 2 Year MCLR and spread over the same, decides the effective interest rate for all the salary package account holders. Talking about the rates, they are usually lowest, allowing an applicant to easily repay the loan without any hassle.

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