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SBI Bank 5 Lakh Personal Loan

Individuals can avail a personal loan of Rs 5 lakh from State Bank of India at interest rates starting from 10.05% p.a. for tenure of up to 7 years. Applicants can also visit Paisabazaar app to compare the interest rates and pre-approved offers by SBI with other lenders.
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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
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto ₹25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto ₹25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%

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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

SBI Bank 5 Lakh Personal Loan- Highlights

Interest Rate 10.05%-15.05% p.a.
Loan Tenure Up to 7 years
Processing Fee Up to 1.50% (Rs 1000-Rs 15000)
Prepayment Charges 2% of prepaid amount
Net Monthly Income
  • For Government/Defence Employees- Rs 20000
  • For Corporate Employees- Rs 25000

Interest Rates of 5 lakh Personal Loan from SBI Bank

SBI offers personal loan interest rates ranging from 10.05% to 15.05% p.a. depending on the credit profile of the applicant. Lenders usually offer differential interest rates depending on the credit score, monthly income, employer’s profile, loan types, etc.

Fees and Charges of SBI Bank for Personal Loan of 5 Lakh

Processing Charges

Employee Type Charges
Defence Sector Employee Waived off
Platinum and Rhodium variant Salary Package Customer Waived off
Employees of Government Sector 0.75% of loan amount (Rs 1000-Rs 15000)
For customers having CIBIL Score 800 and above 0.75% of loan amount (Rs 1000-Rs 15000)
Others Up to 1.50% (Rs 1000-Rs 15000)

Other Charges

Particulars Charges
Prepayment Charges 2% of prepaid amount
Penal Charges 2.40% p.a.

Who Can Avail a 5 Lakh Personal Loan from SBI Bank

The personal loan eligibility criteria depends on the age, monthly income, credit score, EMI/NMI ratio and job profile of the applicants. SBI has set the below-mentioned eligibility criteria of its personal loan applicants.

  • The minimum age of the personal loan applicants should be 21 years at the time of loan and the maximum age should be 60 years at the time of loan maturity.
  • Employees working with government sector, defence sector and corporate sector are eligible for SBI Personal Loan of Rs 5 lakh.
  • Applicants should have their salary account with SBI.
  • The applicant should have been in the government or defence sector for atleast 6 months and in the corporate sector for atleast 1 year.
  • The minimum net monthly income of employees working with government or defence sector should be Rs 20000 and for corporate employees should be Rs 25000. The net monthly income of the applicant should be up to 65% of the EMIs including the existing EMIs and EMI of the proposed personal loan.
  • Pensioners having their pension accounts with SBI and are below 76 years of age are also eligible for 5 lakh personal loan from SBI.

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Documents Required for Availing SBI Personal Loan of Rs 5 lakh

SBI has not disclosed the documents required during personal loan application. However, prospective borrowers should have the following documents ready while applying for a personal loan of 5 lakh.

  • Duly filled application form with passport size photographs
  • ID proof and address proof
  • Salary slip for last 3 months
  • Bank statement for last 6 months
  • Latest ITR or Form 16

EMI Calculation of 5 lakh Personal Loan Availed from SBI

Below-mentioned is the EMI calculation of personal loan of Rs 5 lakh availed from SBI for tenure of up to 5 years. Individuals planning to avail a personal loan of Rs 5 lakh can use the personal loan EMI calculator available online to calculate the total EMI and interest cost payable throughout the loan tenure and plan their budget accordingly.

Loan Amount (Rs) Interest Rate (p.a.) Tenure EMI (Rs)
5,00,000 10.05% 1 year 43,970
5,00,000 10.05% 2 years 23,084
5,00,000 10.05% 3 years 16,145
5,00,000 10.05% 4 years 12,693
5,00,000 10.05% 5 years 10,636

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 an interest rate ranging from 10.05% to 15.05% p.a. to applicants availing a personal loan of Rs 5 lakh. The interest rates are offered depending on the credit profile of the applicant.

No you cannot apply for SBI personal loan without a salary slip because your personal loan eligibility also depends on your net monthly income.

The EMI of 5 lakh personal loan from SBI for tenure of 7 years would be Rs 8,314.

Yes you can prepay a 5 lakh personal loan from SBI. The lender levies a prepayment charge of 2% on the prepaid amount.

The minimum CIBIL Score considered ideal for availing personal loan of Rs 5 lakh from SBI is 650 for defence employees and 670 for corporate employees.

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What our customers say

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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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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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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

Best Advisor for Personal Loan

I would like to share my feedback regarding my recent interaction with Mr. Vipin Singh (employee id EW12967) After discussing the financial matters with him, I felt very satisfied with his approach and professionalism. He explained everything clearly, handled the discussion patiently, and ensured that all concerns were addressed effectively. His communication skills, positive attitude, and dedication towards his responsibilities truly reflect his commitment to the organization.

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20th Jan 2026Jan 20, 2026

Meri shaddi thi

Shadi mai bht kharche hote hai. Maine shaddi ke liye personal loan paisabazaar se liya tha. Process smooth tha or interest bhi sahi milla.

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Sadia KhatunJan 15, 2026

Perfect for Loan Solutions

Recently I had a conversation with Mr. Harsh ji. Thanks Mr. Harsh ji for providing a better solution in a very short period of time with very nice behaviour. Thank You very much.

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Amit ChahalJan 15, 2026

Travel ke liye personal loan liya tha

Mai bohot din se out of India ghumne jana chahti thi lekin jab jane ka time mila toh budget kaam padh raha tha, Paisabazaar se personal loan leke bht acha trip kiya. Maza agaya. Mere upar koi burden bhi nhi padha

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Tarini RoyJan 14, 2026

Easy personal loan available

Took personal loan. Good experience.

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Ruchika TiwariJan 14, 2026

Stress-free Laon Borrowing Process

There was a complication with my KYC verification. Paisabazaar’s Shazeb handled it swiftly and professionally. He ensured that I received regular updates, explained the resolution steps clearly, and most importantly, resolved the issue quickly. His prompt assistance and communication made the entire experience smooth and stress-free. Thanks to his efforts, the loan process was completed without further delays.

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Abhishek ThakuraJan 14, 2026
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