SBI Personal Loan Interest Rate Highlights |
|
SBI Xpress Credit Personal Loan | 11.00%-14.00% p.a. |
SBI Xpress Elite Scheme | 11.00%-11.75% p.a. |
SBI Xpress Flexi Scheme | 11.25%-14.25% p.a. |
SBI Xpress Lite Scheme | 12.00%-15.00% p.a. |
SBI Quick Personal Loan | 11.25%-14.25% p.a. |
SBI Pension Loans | 11.15 % p.a. onwards |
Xpress Credit Insta Top-up Loans | 12.10% p.a. |
Note: Rates as of 26th May 2023
SBI Personal Loan Interest Rates
SBI Xpress Credit
For Defense/Para-military/Indian Coast Guard Salaried Applicants
Types | Interest Rates (p.a.) |
Term Loan | 11.00%-12.50% |
Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status
Types | Interest Rates (p.a.) |
Term Loan | 11.00%-13.50% |
Applicants of Other Corporates
Types | Interest Rates (p.a.) |
Term Loan | 12.00%-14.00% |
SBI Xpress Elite Scheme
Types of Applicants | Interest Rates (p.a.) |
Salary Account Holders with SBI | 11.00%-11.50% |
Applicants having salary accounts with other banks | 11.25%-11.75% |
SBI Xpress Flexi Scheme
Types | Interest Rates (p.a.) |
For Diamond Salary package Customers | 11.25%-14.25% |
For Platinum Salary package Customers | 11.25%-12.00% |
Xpress Lite Scheme
1% higher than Xpress Credit scheme for all brackets

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SBI QUICK PERSONAL LOAN SCHEME THROUGH CLP PORTAL
(for customer not maintaining salary account with SBI)
0.25% higher than Xpress Credit Scheme for all Brackets
Other SBI Personal Loan Schemes
Products | Rate of Interest (p.a.) |
Xpress Credit Insta Top-up Loans
|
12.10% |
SBI Pension Loan Schemes
Schemes | Interest Rates (p.a.) |
SBI Pension Loan | 11.15% |
Jai Jawan Pension Loan | 11.15% |
Pension Loan Scheme For Treasury & PSU Pensioners | 11.15%-11.65% |
Pre-Approved Pension Loans(PAPNL) | 11.15% |
Pre-approved Insta Pension Top-Up | 11.15% |
Also know the best bank/NBFC for personal loan in India
Comparison Table of Personal Loan Interest Rates of SBI Bank vs Top Banks/NBFCs
Banks/NBFCs | Interest Rates(p.a.) | |
HDFC Bank | 10.50% onwards | Apply Now |
SBI | 11.00%-15.00% | |
ICICI Bank | 10.50% onwards | Apply Now |
Axis Bank | 10.49% onwards | Apply Now |
Kotak Mahindra Bank | 10.99% onwards | Apply Now |
IndusInd Bank | 10.49% onwards | Apply Now |
IDFC First Bank | 10.49% onwards | Apply Now |
Bajaj Finserv | 11.00% onwards | Apply Now |
Tata Capital | 10.99% onwards | Apply Now |

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Factors affecting SBI Personal Loan Interest Rates
Employer’s Profile
Lenders usually consider the employer’s profile while setting their personal loan interest rates. Most banks and NBFCs usually offer preferential interest rates to salaried individuals as compared to self-employed. Due to higher job security of individuals employed with government or PSU entities, interest rates for personal loans for government employees are also usually lower than those offered to private employees. However, individuals employed with top private sector companies and MNCs are offered lower interest rates due to their ability to withstand adverse economic conditions better than other private sector employees.
For example, under the SBI Xpress Credit Personal Loans, the bank offers lower interest rates to defense/para-military/Indian Coast Guard personnel and salaried employees of Central Govt./ State Government/ Police / Railway/ Central Public Sector Enterprises as compared to employees of other corporates.
Credit Score
While SBI has not disclosed the interest rate differentiation based on credit score for availing SBI Personal Loans, many banks and NBFCs consider the credit score while setting their personal loan interest rates. Lenders usually consider applicants having credit scores of 750 and above for availing personal loans. Such applicants are usually offered personal loans at lower interest rates. Thus, having a higher credit score may help in availing personal loan from SBI or other bank at lower interest rates.
Monthly Income
SBI offers personal loans to applicants having minimum monthly income of Rs 15,000. It prefers lending to those applicants whose total EMIs, including the existing EMIs as well as the EMI of the proposed personal loan, is within 50% of their 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.
Existing Relationship with the Lender
Many lenders offer interest rate concessions to applicants having an existing lending/deposit account with them. Therefore, individuals planning to avail personal loans should prefer the lenders they already have an account with.
For example, the SBI Personal Loan interest rates offered to those maintaining salary account with SBI is lower than those not maintaining salary account with the bank.

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Tips to avail Personal Loan at Lower Interest Rates
- Contact the banks and NBFCs with whom you already have a deposit/lending account
- Check different lenders for interest rate concessions during festive seasons
- Maintain a credit score of 750 and above
- Visit online fintech platforms to compare the personal loan interest rates offered by different lenders
- Enquire about the pre-approved personal loan offers from various banks and NBFCS