In this article, we are going to talk about how to apply for sbi personal loan and discuss eligibility, documents, interest rate,s, etc.
let’s start, with how to apply for SBI personal
For Central & State Government Pensioners
- The pensioner should be below 76 years of age.
- A pension payment order is maintained with SBI.
- The pensioner is to furnish an irrevocable undertaking not to amend his mandate to the Treasury during the tenure of the loan.
- The Treasury to give consent in writing that it will not accept any request from the pensioner to transfer his pension payment to any other bank till a NOC is issued
- All other terms and conditions of the Scheme will be applicable, including a guarantee by the spouse (eligible for family pension) or by a suitable third party.
- Pensioners of Armed Forces, including Army, Navy, and Air Force, Paramilitary Forces (CRPF, CISF, BSF, ITBP, etc.), Coast Guards, Rashtriya Rifles, and Assam Rifles.
- The pension payment order is maintained with SBI.
- No minimum age bar under the scheme.
- The maximum age at the time of processing the loan should be less than 76 years.
For Family Pensioners
- Family pensioners include authorized members of the family to receive a pension after the death of the pensioner.
- Family pensioners should not be more than 76 years of age.
SBI personal loan interest rate
When the bank gives a loan to its customer, then the customer has to pay the interest charged by the bank on the loan in the EMI of the loan.
Personal Loans Schemes – Interest Rates; 8.75%* p.a
For more Detail – Please Click here
SBI personal loan processing fee
Just as we have to pay some portal fee during an application, while taking a loan in this bank, the bank charges a loan processing fee from you.
|Scheme Name||Processing Fees|
|SBI Pension Loan||1% of the loan amount with a minimum of Rs 1000 +GST and Maximum of Rs 10000 +GST|
|Jai Jawan Pension Loan||NIL|
|Xpress Credit||1.50% of the loan amount with a minimum of Rs 1000 +GST and a Maximum of Rs 15000 +GST|
Documents Required for Availing SBI Personal Loan
The documents required for a personal loan may differ depending on the type of personal loan you are applying for. At present, only salaried individuals/professionals and pensioners can avail of SBI Personal Loan. The major documents required to apply for SBI Personal Loan are as follows:
- Application form duly filled by the borrower and submitted along with 2 Latest Passport size photographs.
- Proof of identity (Photocopies of PAN/Passport/Driver’s License, Voter ID card/ Aadhar Card)
- Proof of Residence (photo copies of recent Telephone Bills/ Electricity Bills/Property tax receipts/ Passport/ Voters ID card)
- Copy of identity card issued by the employer.
- Latest six months’ Bank Statement of the account where salary is credited.
- Last 6 months’ salary slip (optional*).
- Irrevocable Letter of Authority addressed to disbursing authority
- Irrevocable Letter of Authority from the person authorized to disburse Salary and allowances
How to Apply For SBI Personal loan
Now let us discuss the important issue of our article how to apply for a loan.
To apply for a personal loan from the State Bank of India (SBI), you can follow these steps:
- You can apply for a personal loan from SBI online or by visiting a branch
- When applying online, you will need to fill out an online application form and submit the required documents.
- Submit your application
- After submitting your application, SBI will review your documents and credit history to determine if you are eligible for a personal loan
- If your application is approved, the bank will disburse the loan amount to your account.
It’s important to note that the specific requirements and process for applying for a personal loan from SBI may vary depending on your location and other factors. It’s always a good idea to check with the bank for the most up-to-date information.
SBI personal loan calculator
Calculate your personal EMI- Click here
If you want to do any business by taking a business or personal loan, then you can apply for an SBI loan and hope that you have liked this article, then definitely share it with your friends and other people.