SBI Personal Loan 2026 State Bank of India (SBI) is the most trusted financial institution in India. Whether you are planning a dream wedding, funding a medical emergency, or consolidating debt, an SBI Personal Loan offers some of the most competitive interest rates and transparent terms in the market.
1. Key Highlights of SBI Personal Loan
Before diving into the details, let’s look at the core features of the loan:
| Feature | Details |
| Loan Amount | ₹25,000 to ₹30 Lakh |
| Interest Rate | 11.15% to 14.30% p.a. (Varies by scheme) |
| Repayment Tenure | 6 months to 7 years (84 months) |
| Processing Fee | 1% to 1.5% of loan amount + GST |
| Pre-payment Charges | 3% on prepaid amount (Nil for some schemes) |
| Hidden Charges | None (High Transparency) |
2. Types of SBI Personal Loan Schemes
SBI offers specialized loan products tailored to different types of borrowers:
| Loan Scheme | Target Audience | Key Benefit |
| SBI Xpress Credit | Salaried employees with SBI Salary Account | Instant approval & high loan limit |
| SBI Pension Loan | Central/State/Defense Pensioners | Lower interest rates & easy EMIs |
| SBI Kavach Personal Loan | For medical expenses/emergencies | Very low rates (starting ~8.50%) |
| Pre-approved (PAPL) | Selected YONO App users | 24×7 instant credit to bank account |
3. Eligibility Criteria
To ensure your loan application is approved, you must meet the following basic requirements:
| Criteria | Requirement |
| Age | 21 years to 60 years |
| Employment Type | Salaried (Govt./PSU/Private) or Pensioner |
| Minimum Monthly Income | ₹15,000 (Net) |
| Work Experience | At least 1 year in the current organization |
| CIBIL Score | 750 or above (Highly Recommended) |
4. Documents Required (Checklist)
Keep these documents ready to speed up the processing:
- Identity Proof: Aadhaar Card, PAN Card, Voter ID, or Passport.
- Address Proof: Utility bills (Electricity/Water) or Rent Agreement.
- Income Proof: Last 3 months’ Salary Slips and Latest Form 16.
- Bank Statement: Last 6 months’ statement of the account where salary is credited.
- Photographs: 2 recent passport-sized photos.
5. Estimated EMI Calculation
If you borrow ₹5 Lakh at an interest rate of 11.50% for a period of 5 years, your repayment schedule would look like this:
- Loan Principal: ₹5,00,000
- Interest Rate: 11.50%
- Tenure: 60 Months (5 Years)
- Monthly EMI: ₹10,996 (approx.)
- Total Interest Payable: ₹1,59,760
- Total Repayment: ₹6,59,760
6. How to Apply for SBI Personal Loan?
- Via YONO App: Log in to the YONO app, go to ‘Loans’, and check if you have a pre-approved offer.
- Official Website: Visit the SBI Official Portal, fill out the online application, and upload your documents.
- Offline Branch: Visit your nearest SBI branch with your documents for a face-to-face consultation.
Expert Tips for a Successful Loan Approval
- Maintain a Good Credit Score: A CIBIL score above 750 helps you negotiate for lower interest rates.
- Avoid Multiple Applications: Don’t apply for loans at multiple banks simultaneously, as it can lower your credit score.
- Check for Seasonal Offers: SBI often waives processing fees during festive seasons (Diwali, New Year).
Conclusion:
SBI Personal Loan is an ideal choice for borrowers looking for reliability and low interest rates. By choosing SBI, you avoid the high hidden costs often associated with private lenders.
Frequently Asked Questions (FAQs)
Q1. What is the minimum and maximum loan amount I can get from SBI?
Ans: You can borrow as little as ₹25,000 and up to ₹30 Lakh, depending on your income, repayment capacity, and the specific loan scheme (like Xpress Credit).
Q2. Does SBI charge a penalty for early repayment (Foreclosure)?
Ans: Yes, SBI generally charges a 3% foreclosure fee on the prepaid amount if you close the loan before the tenure ends. However, if you close the loan using the proceeds of a new loan from the same bank under a different scheme, this fee may be waived.