Here are some of the key features of a personal loan of Rs. 1 lakh from SBI:
SBI Bank 1 Lakh Personal Loan
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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
Features of 1 Lakh SBI Personal Loan
Interest Rates for 1 Lakh SBI Personal Loan
SBI personal loan interest rate starts at 10.05% p.a. for applicants availing a loan amount of Rs. 1 lakh. However, the interest rate might vary depending on the credit profile of the applicant, monthly income, job profile, EMI/NMI ratio, etc.
Eligibility Criteria for 1 Lakh SBI Personal Loan
Given below is the key eligibility criteria for applicants to avail a personal loan of Rs. 1 lakh from SBI:
Documents Required for SBI Personal Loan of 1 Lakh
Here are the key documents required to avail a personal loan of Rs. 1 lakh from SBI:
Fees and Charges for 1 Lakh SBI Personal Loan
Given below are the key fees associated with a personal loan of Rs. 1 lakh from SBI:
| Particulars | Applicable Charges |
|---|---|
| Processing Fees | Up to 1.50% of the loan amount plus GST (minimum Rs.. 1000 and maximum Rs. 15,000)
|
| Penal Charge for Default Payment of Instalment(s) or Irregularity in Loan Account |
|
| Partial or Full Prepayment Charges |
|
How to Apply for Personal Loan through Paisabazaar
To apply for a personal loan online, follow the steps given below:
- Go to the Paisabazaar app or website
- Fill in your mobile number
- Enter the necessary details
- Enter the OTP that you receive on your mobile number
- Browse through the offers and choose the best suited offer
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
What is the total interest cost of Rs. 1 lakh personal loan at 10.05% p.a. and tenure of 1 year from SBI?
The total interest cost of Rs.1 lakh personal loan at 10.05% p.a. for a tenure of 1 year is Rs. 5,527.
What is the interest rate of SBI’s Rs. 1 lakh personal loan?
Currently, a personal loan of Rs. 1 lakh from SBI is offered at an interest rate starting from 10.05% p.a. However, the interest rate may vary depending on the credit profile of the applicant.
What is the tenure option available to applicants wanting a personal loan amount of Rs. 1 lakh?
A personal loan of Rs. 1 lakh comes with a tenure option ranging between 6 months to 84 months.
How can I apply for an SBI 1 lakh personal loan?
You can apply for an SBI Bank personal loan of Rs. 1 lakh through the official SBI website or mobile app. You can also visit the Paisabazaar app or website to compare the interest rates and other offers by various lenders and apply for the one that best suits your requirements.
Do I need to submit collateral to avail a personal loan of Rs. 1 lakh from SBI?
Personal loans are unsecured loans and therefore don’t require any collateral/security. Hence, you need not submit any collateral to avail a personal loan of Rs. 1 lakh from SBI.
Personal Loan Articles
View All ArticlesPaisabazaar 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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