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The SBI Personal Loan is one of easier, more accessible credit instruments you can find in the market. The bank offers personal loans under myriad categories at competitive interest rates, which makes it an attractive option for those looking for quick funds. 

SBI Personal Loan Details

Interest rate

11% onwards

Loan Amount

₹24,000 to ₹20 Lakhs

Minimum Income for Eligibility

₹15,000 per month

Eligibility Age

Minimum 21 years and up to 58 years at loan maturity

Processing Fees

Up to 1.50% of the loan amount plus GST (Subject to minimum ₹,1000 to maximum ₹15,000)

Loan tenure

6 months to 72 months

Disclaimer: The details mentioned are subject to change at the lender’s discretion.


The SBI offers a personal loan at an interest rate starting from 11.00%. The State Bank of India (SBI) offers different types of personal loans at competitive rates. Before applying for a loan with SBI, check the interest rates that the bank charges provided in the following table:

SBI Personal Loan Interest Rate

Types of SBI Personal Loans 

Interest Rate


11.00% - 14.00% per annum


11.00% - 11.75% per annum

XPRESS FLEXI SCHEME (Overdraft Facility)

0.25% higher than XPRESS CREDIT for Diamond Salary packages and XPRESS ELITE for Platinum Salary Package


1% higher than XPRESS CREDIT for all salary brackets

SBI Quick Personal Loan Through CLP Portal 

0.25% higher than XPRESS CREDIT for all salary brackets


12.10% per annum

SBI Pension Loan

11.15% per annum

Disclaimer: The rates mentioned are subject to change at the lender’s discretion.

SBI Personal Loan EMI Calculator

Loan Amount
  • Months
  • Years
Rate of Interest

Monthly EMI

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest
Year Principal Interest Balance

When it comes to loans, one of the most important components that you must be aware of is the EMIs. These are payable monthly and you are obligated to pay them on time. Hence, understanding the EMI outflow allows you to determine the best option for you. 

So, when deciding on the SBI Personal Loan, use the EMI calculator to find the EMIs and the interest that you will pay. All you have to do is enter the SBI Personal Loan interest rate, loan amount, and loan tenure.  

How is SBI Personal Loan EMI Calculated

You can calculate the Equated Monthly Instalments (EMIs) of an SBI Personal Loan with the help of the following formula:


SBI Personal Loan EMI = [P x R x (1+R)^N]/[(1+R)^N-1]



  • EMI is the Equated Monthly Instalment,
  • P is the principal amount,
  • R is the monthly rate of interest, and
  • N will be the SBI Personal Loan repayment tenure (in months).


You can use this Personal Loan EMI formula to arrive at an estimate of your SBI Personal Loan outgo but this method is quite cumbersome. Alternatively, you can always use the personal loan EMI calculator available on Bajaj Markets to determine the EMI and SBI Personal Loan interest.

Types of SBI Personal Loans

SBI offers different types of personal loans for various categories of customers. Whether you have an SBI account or not, you can apply for an SBI Personal Loan based on your financial needs. 


Here are some of the features of these personal loans:

1. SBI Xpress Credit

  • You can avail of loans ranging from ₹24,000 to ₹20 Lakhs

  • The loan tenure can extend from 6 months to 72 months

2. SBI Pension Loan

  • Available for central, state government, defence, and PSU employees

  • The loan amount is based on your monthly pension 

3. SBI XPress Bandhan

  • Available to those who do not have a salary account with SBI

  • The maximum EMI to Net Monthly Income ratio is 50%

4. SBI Pre-approved Personal Loans

  • Available through YONO mobile app or internet banking in just 4 clicks

  • No physical documentation is required

5. SBI QUICK Personal Loan

  • You can avail of loans up to ₹20 Lakhs

  • The loan repayment tenure can extend up to 72 months

SBI Personal Loan Features & Benefits

Loan Amount

You can avail of a loan amount of up to ₹20 Lakhs to meet your immediate expenses.


If you get a personal loan from SBI, you can choose to repay it between a fixed tenure of 6 months to 72 months.

Application Process

You can apply for SBI Personal Loan online without any hassle. The process requires minimal paperwork and the loan gets approved as early as possible.

SBI Personal Loan Eligibility

The following are the main SBI Personal Loan eligibility requirements for the various types of SBI Personal Loans that are currently available:

1. SBI Xpress Credit

  • You must have an SBI salary account

  • Your monthly income should be at least ₹15,000

  • You should have an EMI/NMI ratio of less than 50%

2. SBI Xpress Bandhan

  • Your monthly income should be at least ₹50,000

  • Your EMI/NMI ratio should be at least 50%

3. SBI Pension Loan 

  • You must be a pensioner from the central or state government

  • You must be under 76 years of age

  • You must have an SBI pension account, which must be kept in good standing throughout the loan term

Documents Required for SBI Personal Loan

Depending on the personal loan category you choose, the documentation required to obtain an SBI Personal Loan may vary. The following is a list of essential documents required for an SBI Personal Loan:

  • Applicants must submit a completed application form as well as passport-sized pictures

  • Ration Card, Bank Account Statement, Passport, Driving Licence, Electricity Bill, Telephone Bill, Aadhaar Card

  • Income Proof: Bank Account Statement, Salary Slips, ITR, Form 16


SBI may request more documentation regarding your identity or income 

How to Apply for SBI Personal Loan

The State Bank of India (SBI) allows you to apply for a personal loan both by offline and online methods. However, if you wish to apply for SBI Personal Loan online, here are some easy steps that you need to follow:

  • Visit the official SBI Personal Loan webpage

  • Select the suitable personal loan option and click on “Apply Now” or “Avail Now”

  • Fill out the application form and upload the scanned copies of the required documents

  • The bank will approve your application if you fulfil their criteria

How Can I Get in Touch with SBI Customer Care?

You can contact the SBI customer case through the following channels:

  • 1800-1234 / 1800-11-2211 / 1800-425-3800 are toll-free numbers

  • You can also use the Online Customer Complaint Form to file a complaint

  • Send an email to contactcentre@sbi.co.in describing your request or complaint

  • Finally, you have the option of visiting any SBI branch nearby


The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs for SBI Personal Loan

To avail of SBI Personal Loan, you must have a minimum CIBIL score of 750.


If you are a corporate employee, you can avail of XPRESS CREDIT, XPRESS ELITE, and XPRESS LITE personal loans from SBI.


No, you are unable to select the method of computation. The loan comes with a set interest rate.


Personal loan balance transfer offers may be sent to SBI account customers on a regular basis. Such deals can be found by going onto your online banking account, using the YONO mobile app, or calling SBI customer service.


The SBI offers a pension loan of up to ₹12 Lakhs.


SBI presently calculates personal loan interest using the declining balance technique. The full terms of the same, on the other hand, can only be found in the personal loan agreement.


The State Bank of India does not mention how long it takes to disburse a personal loan after it has been approved. SBI normally completes the disbursement of a personal loan within 2-4 working days following the application's approval.


With SBI Personal Loan, you can get a loan of up to ₹20 Lakhs.


On a loan of ₹2 Lakhs at an interest rate of 11% for a tenure of 36 months, the interest payable is ₹35,719.


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