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.
As published by State Bank of India. Your branch may ask for more.
Best for: Existing SBI customers taking an unsecured personal loan.
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.