SBI Personal Loan Apply 2024: Instant Loan Up to 20 Lakh, Eligibility, Documents & Easy Process: State Bank of India, the largest bank in our country, is providing personal loan facility to its customers. All those people who have a bank account in SBI Bank and need money, all those people can easily apply for Personal Loan. If you apply online for personal loan in SBI Bank, then after your loan is approved, the loan amount is transferred to your account within just 10 minutes.
State Bank of India is providing loan to its customers at the lowest interest rate. All you needy people can get a loan for a fixed time period. To apply for a personal loan in State Bank of India, you will need many necessary documents.
If you have a bank account in State Bank of India and you want to apply for a personal loan, then it is very important for you to read this article. Because today through this article we are going to talk about eligibility criteria, interest rates, benefits, required documents and application process for personal loan in State Bank of India. So that all you needy people can easily apply for personal loan and avail its benefits.
What is the SBI Personal Loan Scheme?
SBI Bank has made it easy for all its customers to get a personal loan up to Rs 20 Lakh. If you have a bank account with SBI Bank, then you can get money quickly through this service. All of you candidates can apply for the loan both online and offline. All of you will be given a loan based on your credit score or Sibile score.
| Bank Name | State Bank of India (SBI) |
| Loan Type | Personal Loan |
| Loan Amount | UP TO 20,00,000/- |
| Beneficiaries | All SBI Customers |
| Application Process | Online & Offline |
| Official Website | https://sbi.co.in/ |
Eligibility Criteria for SBI Personal Loan
Every person applying for a personal loan in State Bank of India (SBI) must fulfil all the following eligibility criteria while applying.
- The person applying for SBI Personal Loan must have a bank account in SBI Bank.
- The minimum age of the person applying for this loan should be 21 years and the maximum age should be 58 years.
- The monthly income of the person applying should be more than Rs 15,000.
- The EMI of the person applying for the loan must be at least 50%.
- The person applying should not have been declared a defaulter by any bank.
Benefits of SBI Personal Loan
Anyone applying for a personal loan from State Bank of India (SBI) can avail the following benefits.
- You do not need to mortgage any property to get a personal loan from State Bank of India (SBI).
- You are also provided with the facility of Top Up Loan on this loan.
- You only need to submit some necessary documents to get a loan from this bank.
- The interest rate on the personal loan offered by this bank will also be low.
Interest Rate for SBI Personal Loan
When we go to apply for a loan, the first question that comes to our mind is what will be the interest rate of the loan. So today we have told you all the interest rates of SBI Personal Loan below.
| Applicant | Interest Rate |
| Defence/Central Armed Police/Indian Coast Guard | 11.15% – 12.65% |
| Government/Police/Railways/Central Public Sector | 11.30% – 13.80% |
| Salary account in SBI | 11.15% – 11.65% |
| Salary account in any other bank | 11.40% – 11.90% |
Documents Required for SBI Personal Loan
- Aadhar Card and PAN Card
- Voter ID Card
- Bank Passbook
- Salary Slip
- Last 6 Month Bank Statement
- Mobile Number and Email ID
- Passport Size Photo etc.
How to Apply for SBI Personal Loan?
If you also want to apply for SBI personal loan then you have to follow the following steps while applying.
- First of all you have to go to your nearest SBI bank.
- After this you have to tell the bank employee that we need an application form for a personal loan.
- After this the bank employee will give you an application form for a personal loan.
- Now you have to read all the information given in the form carefully and fill in all the necessary information.
- After this you have to attach photocopies of all the necessary documents along with the application form.
- Finally you have to submit the application form to the bank employee with your signature.
- Later your application form will be checked by the bank employee. If your loan is approved, the loan amount will be transferred to your bank account within a few minutes.
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