State Bank of India Personal Loan
State Bank of India, a bank headquartered in Mumbai and established in 1955, offers a personal loan at a floating interest rate ranging from 9.6% to 15%. The processing fee is 1.5% of the loan amount, subject to a minimum of ₹1,000 and a maximum of ₹15,000. There is no prepayment penalty. The loan amount is ₹3 lakh, with tenures from 6 to 72 months.
The lender offers pre-approval for existing SBI customers, requires no collateral, and provides a balance-transfer facility. Eligible applicants — salaried, self-employed, or professional — need a minimum CIBIL score of 700, must be aged 21 to 60, and salaried applicants need a minimum monthly salary of ₹15,000. Documentation includes PAN Card, Aadhaar Card, three months of salary slips, six months of bank statements, and address proof.
At 9.6%, State Bank of India has one of the lowest starting rates of the 22 lenders we track for personal loans.
Documents required
- PAN Card
- Aadhaar Card
- 3 months salary slips
- 6 months bank statement
- Address proof
As published by State Bank of India. Your branch may ask for more.
Best for: Existing SBI customers taking an unsecured personal loan.
Eligibility
Loan terms
- Pre-approved for existing SBI customers
- No collateral required
- Flexible tenure up to 6 years
- Balance transfer facility
Fees & charges
FAQ
Lenders price on your credit score, income, employer category and tenure. A score above 750 typically unlocks the lower end of each range shown. The exact rate is confirmed by the lender at underwriting.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.
Most lenders allow prepayment after a few EMIs. Charges vary by lender and are shown in the fees section; RBI caps foreclosure charges on floating-rate loans to individuals.
More from State Bank of India
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