SBI Personal Loan Interest Rates

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SBI Personal Loan - Interest Rates 2026

State Bank of India offers personal loan interest rates starting from 10.05% p.a. onwards. The bank offers special interest rates to individuals employed in Defence, Para-military and Indian Coast Guards @ 10.50% p.a.

SBI Personal Loan Schemes	Interest Rate (p.a.)
Regular Personal Loan	10.05% - 15.05% p.a.
Defence/Para-military/Indian Coast Guards	10.50% p.a.
SBI Pension Loan	11.35% p.a.
Jai Jawan Pension Loan	11.35% p.a.
Pension Loan to Treasury/PSU pensioners	11.35% - 11.85% p.a.
Pre-approved Pension Loans	11.35% p.a.

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HDFC Bank

10 Second Disbursal*100% Digital Process*Quick Disbursal

Max Loan Amt.Upto ₹25L

Rate of Interest9.99% - 12.5%

Tenure upto1-5 Years

Processing Fee₹ 6,500

Axis Bank

Low Processing fee

Max Loan Amt.Upto ₹25L

Rate of Interest9.99% - 17.15%

Tenure uptoUpto 6 Years

Processing FeeUpto 2%

Kotak Mahindra Bank

Lowest Income requirement100% Digital Process*

Max Loan Amt.Upto ₹25L

Rate of Interest9.98% - 17.2%

Tenure upto1-5 Years

Processing Fee1.1% - 1.5%

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SBI Personal Loan Interest Rates

SBI Personal Loan Interest Rates vs Other Lenders- Comparison Table

Factors Affecting SBI Personal Loan Interest Rates

How to Get a Lower Interest Rate from SBI

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SBI Personal Loan Interest Rates vs Other Lenders- Comparison Table

Banks/NBFCs	Interest Rates (p.a.)
State Bank of India	10.05% - 15.05%
HDFC Bank	9.99% onwards
Axis Bank	9.99% onwards
ICICI Bank	10.45% onwards
Kotak Mahindra Bank	9.98% onwards
IndusInd Bank	10.49% onwards
IDFC FIRST Bank	9.99% onwards
Federal Bank	12.0% - 19.5 %
YES Bank	10.85% - 21.00%
Tata Capital	10.99% onwards
Aditya Birla Finance	10.99% onwards
L&T Finance	11.00% onwards
Hero Fincorp	Up to 30.00%
Piramal Finance	12.14% onwards
Poonawalla Fincorp	9.99% onwards
Moneyview	14% onwards

Factors Affecting SBI Personal Loan Interest Rates

Employer’s Profile

Most banks and NBFCs usually offer preferential interest rates to salaried individuals as compared to the self-employed.
Government and PSU employees usually get personal loan at lower interest rates as compared to private employees, due to job security.
Employees of top private sector companies and MNCs may also get lower rates due to better financial stability.

Credit Score

While SBI does not explicitly disclose interest rate differentiation based on credit score, applicants with higher credit scores (750 and above) generally get personal loans at lower interest rates.

Monthly Income

Income Criteria: SBI requires a minimum monthly income of Rs 25,000 to be eligible for a personal loan.
EMI/NMI Ratio: The bank prefers that the total EMIs (including existing and proposed) do not exceed 65% of the applicant's monthly income.
Although SBI has not mentioned the interest rate differentiation based on the monthly income, many lenders offer preferential interest rates to applicants having higher monthly income due to the higher repayment capacity and low credit risk involved.

How to Get a Lower Interest Rate from SBI

Applicants can follow the tips given below to avail SBI Personal Loan at lower interest rates:-

Maintain a Good Credit Score

Maintain a credit score of 750 or above, as it is preferred by most lenders to get a personal loan at lower interest rates. Making timely repayments and managing credit responsibly can help improve your credit score.

Compare SBI Personal Loan Rates Online

Use financial marketplaces to compare SBI's personal loan interest rates with other lenders, ensuring you get the best deal.

Check for Pre-approved Loan Offers

SBI provides pre-approved personal loan offers to its eligible customers. Reach out to the bank or SMS “PAPLSBI Savings Bank Account No.” to 567676 to find out if you're eligible for any pre-approved offers at preferential rates.

Watch for SBI's Festive Offers

Most lenders offer special interest rate concessions during festive seasons. SBI currently does not offer special discounts or offers on its personal loan interest rate. Keep an eye on such offers to get the lowest rates on personal loans.

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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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FAQs

SBI offers personal loan interest rates ranging from 10.05% – 15.05% p.a. depending on the credit profile of the applicants. The interest rates may also vary depending on the personal loan schemes offered by the SBI and the work profile of the applicants.

SBI offers personal loans only to salaried individuals who maintain a salary account with SBI. Currently, the SBI personal loan interest rate for salary account holders starts at 10.05% p.a.The final interest rate would depend on the work profile of the applicant, credit score, monthly income and other eligibility criteria.

The interest rate for an SBI Personal Loan starts from 10.05% p.a. for loan amounts up to Rs. 35 lakh. The final interest rate would depend on the credit score, occupation, monthly income and other eligibility criteria.

SBI offers personal loans to its applicants at fixed interest rates. The loan is linked to 2 year MCLR of the bank.

The EMI of your personal loan of Rs. 5 lakh would depend on the interest rate and loan tenure offered by SBI. For instance, for a Rs. 5 lakh SBI Personal Loan at an interest rate of 11% p.a. for 3 years, the EMI would be approximately Rs. 16,369.

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Vandana Punj

Reviewed By

Shamik Ghosh

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SBI Personal Loan Interest Rates

SBI Personal Loan - Interest Rates 2026