SBI Bank 5 Lakh Personal Loan

Name: SBI Bank 5 Lakh Personal Loan pvamt
Brand: Paisabazaar
Rating: 4.2 (2839 reviews)

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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2839 Reviews

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65+Lending Partners

800+Cities across India

Get up to ₹1,000*

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Valid till 30^th September '25

Valid till 30^th September '25*T&C Apply

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Customer Rating

4.2_/5

2839 Reviews

51M+Satisfied Customers

65+Lending Partners

800+Cities across India

Paisabazaar Exclusive Benefits

Wide Choice

Curated offers from 30+ lenders

Quick Disbursal

Money in your account instantly

SmartMatch

Offers ranked according to eligibility

Digital Process

Hassle-free & paperless

Personal Loan EMI Calculator

Amount

₹

₹1 L

₹5 L

₹10 L

₹15 L

₹20 L

Amount

₹1 L

₹5 L

₹10 L

₹15 L

₹20 L

₹

50K50L

Rate of Interest(Per Annum)

8%30%

Tenure

1Y 10Y

Your Monthly EMI Payment

₹0

Principal Amount₹0

Interest Amount₹0

Total Amount₹0

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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 ₹40L

Rate of Interest9.99% - 17.15%

Tenure upto1-5 Years

Processing Fee1% - 1.5%

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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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.