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SBI Pension Loan

4.5/5

15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
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Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
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Rate of Interest11% - 13%
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Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
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How Can I Apply for a Personal Loan Online?

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Step 1: Enter your mobile number in the application form

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SBI Pension Loan Highlights

Interest rates 11.35% p.a. onwards
Loan amount Based on the monthly pension drawn by the applicant
Repayment tenure SBI Pension Loan: 6 years
Insta Pension Loan scheme through YONO: 3 years
Processing fee 0.50% of the loan amount + applicable taxes (Minimum Rs. 250)

Disclaimer: State Bank of India is not a Paisabazaar partner for personal loan and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to State Bank of India for personal loans. No offers/services from State Bank of India are being provided by Paisabazaar for personal loans. For further information about State Bank of India for personal loans, users are required to reach out directly to State Bank of India .

SBI Pension Loan Interest Rate

Pension Loan Schemes Rate of Interest (p.a.)
SBI Pension Loan 11.30%
Jai Jawan Pension Loan 11.30%
Pension Loan Scheme For Treasury & PSU Pensioners 11.30% – 11.80%
Pre-Approved Pension Loans(PAPNL) 11.30%
Pre-approved Insta Pension Top-Up 11.30%

Loan amount for SBI Pension Loan

The loan amount would depend on the Net Monthly Pension (NMP) of the loan applicant provided that the EMI/NMP ratio does not exceed 33% for the family pensioners and 50% in case of other pensioners.

SBI Pension Loan Eligibility Criteria

For Central and State Government Pensioners:

  • The pensioner should be below 76 years of age.
  • Pension payment order should be maintained with SBI.
  • The pensioner should furnish an irrevocable undertaking not to amend his mandate to the Treasury during the tenure of the loan.
  • The Treasury has 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 an NOC is issued
  • All other terms and conditions of the Scheme will be applicable, including guarantee by the spouse (eligible for family pension) or by a suitable third party.

For Defence pensioners:

  • Pensioners of Armed Forces, including Army, Navy and Air Force, Paramilitary Forces (CRPF, CISF, BSF, ITBP, etc.), Coast Guards, Rashtriya Rifles and Assam Rifles.
  • Pension payment order is maintained with SBI.
  • No minimum age bar under the scheme.
  • Maximum age at the time of processing the loan should be less than 76 years.

For family pensioners:

  • Family pensioners include authorised members of the family to receive pension after the death of the pensioner.
  • Family pensioners should not be more than 76 years of age.

SBI Pension Loan Documents Required

While SBI has not clearly stated the documents required for availing pension loan, the documentation, if any, should be minimal as the bank would already have most of the required documents due to the KYC of the pension account maintained with the bank.

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SBI Pension Loan Fees and Charges

Processing fee

State Bank of India charges a processing fee  of 0.50% of the Loan amount + applicable taxes (Minimum Rs. 250) for SBI Pension Loan.

Prepayment/Foreclosure Charges

Prepayment charges 3% on prepaid amount
Foreclosure charges (if the account is closed from the proceeds of a new loan account under SBI Pension Loan) NIL

Other fees and charges

EMI/NMP Ratio (Family Pensioners) Up to 33%
EMI/NMP Ratio (other pensioners) Up to 50%
Collected for payment to empaneled Advocate for Legal opinion/Search Report etc As per actuals
Any other fee, if any As per actuals

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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Anubhuti Agrawal profile
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Anubhuti Agrawal
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Shamik Ghosh

Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners.

The APR (Annual Percentage Rate) of a personal loan is its annualised cost of borrowing, which includes the interest rate as well as the processing fees, documentation fees and other fees charged during the loan origination. The APR is expressed in the form of a percentage and thus, allows personal loan applicants to detect personal loan schemes offered at lower interest rates but with higher processing fees and/or other charges.

The APR of personal loans usually ranges between 11.29% to 35%. For example, assume that you have availed a personal loan of Rs. 5 lakhs @ 10.50% p.a. with a repayment tenure of 5 years. The processing fee charged for this loan is 1.5% of the loan amount, which amounts to Rs 7,500. Therefore, the total borrowing cost of your personal loan will be Rs 1,52,317 and its APR will be 11.16%.

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