SBI Personal Loan Interest Rates

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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 11.35%-15.10% 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 (w.e.f.01.11.2017)

Facility TypeCheck Off CategoryRating2 year MCLRSpread over 2 year MCLREffective Interest RateReset Period
Term LoanCheck OffA- and above8.05%
3.80%11.85%No Reset
Term LoanCheck OffBBB+ and below8.05%4.30%12.35%
No Reset
Term LoanNo Check offA- and above8.05%5.90%13.95%
No Reset
Term LoanNo Check offBBB+ and below8.05%6.40%14.45%No Reset
OverdraftCheck OffA- and above8.05%4.05%
No Reset
OverdraftCheck OffBBB+ and below8.05%4.55%12.60%
No Reset
OverdraftNo Check offA- and above8.05%6.15%14.20%
No Reset
OverdraftNo Check offBBB+ and below8.05%6.65%14.70%No Reset

Xpress Credit to Employees of Unrated Corporates ( w.e.f.01.11.2017)

Facility TypeCheck Off CategoryCredit Bureau Score2 year MCLRSpread over 2 year MCLREffective Interest RateReset Period
Term LoanCheck Off8008.05%
No Reset
Term LoanCheck Off700 - 799
No Reset
Term LoanNo Check off8008.05%
No Reset
Term LoanNo Check off700 - 799
No Reset
OverdraftCheck Off8008.05%
No Reset
OverdraftCheck Off700 - 799
No Reset
OverdraftNo Check off8008.05%
No Reset
OverdraftNo Check off700 - 799
No Reset

Xpress Credit:IT Employees Scheme (w.e.f.01.11.2017)

Credit Info Bureau Score2 year MCLRSpread over 2 year MCLREffective Interest RateReset Period
750 and above8.05%4.80%12.85%No Reset
550 - 7498.05%5.80%13.85%No Reset
Less than 550 / No Score8.05%6.80%14.85%
No Reset

Xpress Credit – Non-Permanent Employees (NPEs) (w.e.f.01.11.2017)

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. 12.35%
Check-off Category-II * :
640 bps above 2 yr MCLR i.e. 14.45%
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. 13.10%
Check-off Category-II * :
665 bps above 2 yr MCLR i.e. 14.70%

Xpress ELITE Scheme with 1 Year Reset Period

SBI Salary Package A/C Holders (w.e.f.01.11.2017)

Credit Info Bureau Score1 year MCLRSpread over 1 year MCLREffective Interest Rate
800 and above7.95%3.40%11.35%
700 - 7797.95%3.90%11.85%
600-699 / No Score7.95%6.90%14.85%

Other than Salary Package A/c Holders (including Applicants not maintaining Salary A/c with the Bank)(w.e.f.01.11.2017)

Credit Info Bureau Score1 year MCLRSpread over 1 year MCLREffective Interest Rate
800 and above7.95%3.65%11.60%
700 - 7797.95%4.15%12.10%
600-699 / No Score7.95%7.15%15.10%

Other Unsecured Personal Loans (w.e.f.01.11.2017)

Scheme2 year MCLRSpread over 2 year MCLREffective Interest RateReset Period
SBI Pension Loan8.05%4.35%12.40%No Reset
Jai Jawan Pension Loan8.05%4.35%12.40%No Reset
Pension Loan to Coal Mines Provident Fund (CMPF) Pensioners8.05%4.35%12.40%No Reset
Clean Overdraft8.05%8.45%16.50%No Reset
OD for e-commerce purchases8.05%5.50%13.55%No Reset

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

TenureExisting MCLR (in %)
Over night7.80
One Month7.80
Three Month7.85
Six Month8.00
One Year8.15
Two Years8.25
Three Years8.35

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 11.35% 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.

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 12.35%-14.45% 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.

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Fullerton India 14.00% - 33.00%
HDFC Bank 10.99% - 20.99%
ICICI Bank 10.99% - 18.40%
IndusInd Bank 10.99% - 16.00%
Kotak Bank 10.99% - 20.99%
RBL 13.00% - 18.00%
Standard Chartered Bank 11.49% - 14.49%
Tata Capital 10.99% - 18.00%
Home Loan Interest Rates April 2018
State Bank of India/SBI 8.35% - 8.90%
HDFC 8.40% - 9.35%
Bank of Baroda 8.30% - 9.30%
LIC Housing 8.45% - 8.90%
PNB Housing Finance 8.40% - 8.99%
ICICI Bank 8.35% - 8.85%
Axis Bank 8.40% - 8.75%
Citibank 8.40% - 9.25%
Indiabulls Housing Finance Limited 8.45% - 9.75%
Kotak Bank 8.35% - 8.50%
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