SBI Personal Loan Interest Rates: Check SBI Loan Rate

Q: What is the interest rate for Rs 1 lakh SBI personal loan?

The interest rate for an SBI Personal Loan starts from 10.30% 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.

Disclaimer: State Bank of India is not a Paisabazaar partner for personal loans 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 Personal Loan Interest Rates [ July 2025]

SBI personal loans interest rates range from 10.30% to 15.30% p.a. However, the bank has not explicitly disclosed how factors such as credit score, employer’s profile, monthly income, and loan amount impact the interest rates for its personal loan schemes. Nevertheless, most lenders usually consider these factors when determining the interest rates for personal loans.

SBI Pension Loan Interest Rates for Various Schemes

Stated below are the interest rates of Pension Loan Schemes based on 2-year MCLR @ 9.05%:-

Scheme	Spread over 2-year MCLR	Interest Rates (p.a.)
SBI Pension Loan	2.55%	11.60%
Pension Loan to Treasury/ PSU Pensioners*	2.55% – 3.05%	11.60% – 12.10%
Jai Jawan Pension Loan	2.55%	11.60%
Pre-Approved Pension Loans (PAPNL)	2.55%	11.60%

Note: *A premium of 0.50% will be charged if their pension payment authority does not provide a written undertaking stating that it won’t allow pension transfer to another bank or branch without a No Objection Certificate (NOC) from SBI.

Explore SBI Personal Loan Types with Rates & Charges Comparison

Types of SBI Personal Loan	Interest Rates (p.a.)	Processing Fees
SBI Personal Loan to Salaried Employees	10.30%-15.30%	Up to 1.5% of the loan amount (Minimum Rs 1,000; Maximum Rs 15,000)
SBI Pension Loan	11.60% – 12.10%	NA
SBI Real Time Xpress Credit	10.30%-15.30%	Up to 1.5% of the loan amount (Minimum Rs 1,000; Maximum Rs 15,000)
SBI Pre-approved Personal Loan on YONO	10.30%-15.30%	NA

Key Details You Should Know About SBI Personal Loan Rates

The 2-year Marginal Cost of Funds based Lending Rate (MCLR) is currently 9.05%, effective from 14 March 2025.
The interest rate on SBI Personal Loans is determined by adding a spread of 1.25% to 6.25% over the 2-year MCLR.
As a result, the effective interest rate on personal loans ranges between 10.30% and 15.30%, depending on the applicant’s profile and loan terms.

How You Can Calculate Your EMI on SBI Personal Loan

You can easily calculate your EMI for an SBI Personal Loan using Paisabazaar’s Personal Loan EMI Calculator. Just enter the loan amount, interest rate, and tenure to get an instant estimate of your monthly repayment amount.

It allows you to compare different loan options, adjust loan tenure as per your repayment capacity. This helps you plan your finances better by giving you a clear picture of your monthly outgo and avoiding any future financial stress.

Personal Loan EMI Calculator

Amount

₹

Interest Rate

%

Tenure

Year(s)

Personal Loan EMI Calculator

Monthly EMI ₹ 15,622

Total Amount Payble ₹ 5,62,395(Principal + interest)

Principal Amount ₹ 5,00,000

Total Interest Payble ₹ 62,395

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.

Is SBI Personal Loan on Fixed or Floating Interest Rates

SBI offers personal loans at fixed interest rates to its applicants. The loan is linked to 2 year MCLR of the bank. The current 2 year MCLR stands at 9.05% p.a.

SBI Personal Loan Processing Fees and Other Charges

Processing Fees Structure

Particulars	Charges
Defense sector employees	100% waiver
Government sector employees & Applicants with CIBIL score ≥ 800	50% waiver, i.e., 0.75% of the loan amount (Rs 1,000-Rs 15,000)
Other salaried employees	Up to 1.5% of the loan amount (Rs 1,000-Rs 15,000)

Other Charges Applicable

Particulars

Charges

Prepayment Charges

2% on the prepaid amount

Penal Interest on EMI Default

– For delays up to 60 days: 2.40% p.a. on the overdue amount

– For delays beyond 60 days: 5% p.a. on the outstanding balance

Tips to Get Lower Interest Rates on SBI Personal Loan

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 “PAPL<space><last 4 digits of your SBI 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.

FAQs on SBI Personal Loan Interest Rate

What is the current interest rate on SBI personal loans?

SBI offers personal loan interest rate ranging from 10.30% – 15.30% p.a. depending on the credit profile of the applicants. The interest rates may vary depending on the personal loan schemes offered by the SBI and the work profile of the applicants.

Does SBI offer lower interest for salary account holders?

SBI offers personal loan to only salary account holders who maintain salary account with SBI. The final interest rate would depend on the work profile of an applicant, credit score, monthly income and other eligibility criteria.

What is the interest rate for Rs 1 lakh SBI personal loan?

The interest rate for an SBI Personal Loan starts from 10.30% 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.

Is SBI personal loan interest fixed or floating?

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

What is the EMI for Rs 5 lakh SBI personal loan for 5 years?

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.

What is the EMI for Rs 1 lakh personal loan from SBI?

The EMI of your personal loan of Rs 1 lakh would depend on the repayment tenure and interest rate offered by SBI. For instance, for a Rs 1 lakh SBI Personal Loan at an interest rate of 13% p.a. for 1 year, the EMI would be approximately Rs 8,932.

Can pensioners get lower interest personal loans from SBI?

SBI has not explicitly mentioned the personal loan interest rates for pensioners.The final interest rate would depend on the credit score, occupation, monthly income and other eligibility criteria of an applicant.

How much interest will I pay for a Rs 10 lakh loan over 5 years?

The final interest rate of an applicant would depend on the credit score, occupation, monthly income and other eligibility criteria of an applicant. For instance, for a Rs 10 lakh loan at an interest rate of 11.25% p.a. over 3 years, the total interest paid would be approximately Rs 1,82,860, with an estimated EMI of Rs 32,857.

Does SBI give personal loans to the self-employed?

SBI has not specified any personal loan scheme to self-employed individuals. However, self-employed applicants can compre and apply for personal loan at Paisabazaar based on their credit profile from various top banks and NBFCs.

What is the processing fee for SBI personal loan?

The processing fee for SBI Personal Loans is up to 1.5% of the loan amount, subject to a minimum of Rs 1,000 and a maximum of Rs 15,000.

Does SBI charge prepayment penalty on personal loans?

SBI offers personal loans at fixed interest rates. Thus, it levies prepayment charges of up to 2% on the prepaid loan amount.

Is it mandatory to have a salary account with SBI to avail personal loan?

Yes, it is mandatory to have a salary account with SBI to avail SBI personal loan.

How can I apply for SBI Personal Loan through YONO app?

Pre-approved customers can apply for SBI Personal Loan by logging in to the YONO app and tapping on PAPL button to get started. Applicants are required to fill in the required details, select the loan amount and fill in the repayment tenure. Enter the OTP received on the mobile number and funds will be credited in the loan account.

What is the minimum CIBIL Score required to avail SBI Personal Loan?

For Defence and Government employees having their salary accounts with SBI, the minimum CIBIL Score requirement is 650, whereas for corporate employees having their salary accounts with SBI, the minimum CIBIL Score required is 670.