SBI Personal Loan Highlights |
|
Interest rate | 11.00%-15.00% p.a. |
Loan Amount | Up to Rs 20 lakh |
Tenure | Up to 6 years |
Minimum Monthly Salary |
Rs 15,000 |
Processing Fee | Up to 1.50% (Rs 1,000-Rs 15,000) |
Pre-closure Charges | NIL |
Part-payment Fees | NIL |
Documentation |
|
Note: Rates as of 5th June 2023
Please Note: SBI is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.

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Table of Contents
SBI Personal Loan Interest Rates
SBI Personal Loan interest rates start from 11% p.a. The bank offers personal loan interest rates based on type of SBI Personal Loan schemes, employment profile of the applicant, loan amount and the lender’s existing salary account relationship with the applicants. While the bank has not disclosed the credit score at which it offers personal loans to its applicants, SBI also may consider the credit scores of its personal loan applicants, just like many lenders do, for setting their 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
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 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% |

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Compare Personal Loan Interest Rates of Different Lenders
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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SBI Personal Loan Processing Fees and Charges
Processing Fee: Up to 1.50% (Rs 1,000-Rs 15,000)
SBI Xpress Credit
Pre-payment Charges | 3% on prepaid amount. No prepayment/ foreclosure charges if account is closed from the proceeds of a new loan account under same scheme. |
Penal Interest | @ 2% per month |
SBI Quick Personal Loan
Penal Interest | @2% per month |
Pre-payment Charges | 3% on pre-paid amount. No prepayment/ foreclosure charges if account is closed from the proceeds of a new loan account under same scheme. |
SBI Pension Loan
Pre-payment Charges | 3% on prepaid amount. No prepayment/ foreclosure charges if the account is closed from the proceeds of a new loan account under the same scheme. |
EMI/NMP Ratio (Family Pensioners) | Up to 33% in case of |
EMI/NMP Ratio (other pensioners) | Up to 50% |
Also know the personal loan processing fee charged by top lenders

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Types of SBI Personal Loans
1. SBI Xpress Credit Personal Loan
Purpose: SBI Xpress Credit is a personal loan scheme offered to salary account holders at SBI, to meet their personal requirements
Loan Amount: Up to Rs 20 lakh
Tenure: 6 months-6 years
2. SBI Pre-approved Personal Loan (PAPL SBI offered through YONO app)
Purpose: This pre-approved personal loan facility is also popularly known as SBI Yono Pre-approved Personal Loan. It is offered to savings account holders of SBI he through SBI YONO App.
Loan Amount: Up to Rs 8 lakh
3. SBI Real Time Xpress Credit Personal Loan
Purpose: Fully digitised 24/7 Xpress Credit personal loans with instant disbursal for government and defence salary package customers through YONO app.
Loan Amount:
- Minimum Loan amount: Rs. 25000/-
- Maximum Loan Amount: Rs 30,00,000/- for RTXC and Rs 35,00,000/- for RTXC Elite
Tenure: 6 months -6 years
Processing Fee: Up to 0.75% of loan amount
SBI Pre-approved Personal Loan (PAPL SBI)
Purpose: Pre-approved instant personal loan scheme offered to select customers through SBI YONO app on 24*7 basis
4. SBI Quick Personal Loan
Purpose: It is a personal loan for salaried individuals who do no maintain salary account with SBI
Loan Amount: Up to Rs 20 lakh
Tenure: 6 months-6 years
Processing Fees: 1.50% of the loan amount (Rs 1,000- 15,000) + GST
5. SBI Pension Loan
Purpose: SBI Pension Loan scheme is offered to central/state government pensioners, defense pensioners and family pensioners drawing their pension through SBI. Such pensioners can use the loan proceeds for financing their personal needs
Loan Amount:
- For Central/ State Government Employees- Up to 14 lakh
- For Defence Pensioners- Up to 14 lakh
- For Family Pensioners- Up to 5 lakh
Tenure:
- For Central/ State Government Employees- Up to 5 years
- For Defence Pensioners- Up to 7 years
- For Family Pensioners- Up to 5 years
SBI Xpress Flexi Personal Loan
Purpose: Xpress Flexi personal loan is an overdraft facility offered to salaried individuals having diamond and platinum category salary package account.
Loan Amount: Rs 1 lakh to Rs 25 lakh, subject to 24 times net monthly income
Tenure: 6 months to 6 years

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SBI Personal Loan Eligibility Criteria
SBI Xpress Credit Personal Loan (For salaried applicants)
- Individuals need to have salary account with SBI to avail SBI Xpress Credit Personal Loan
- The applicant should have a minimum monthly income of Rs 15,000
- The EMI/NMI ratio should be less than 50% including the EMIs of existing loans as well as proposed loan.
- The employees of Central/ State/ Quasi-Government, Central/ State PSUs, educational institutions of national repute are eligible for availing SBI Xpress Credit Personal Loan.
- The employees working with select corporates with/without relationship with the bank can also avail SBI Xpress Credit Personal Loan
- In addition to above-mentioned eligibility criteria, SBI personal loan elgibility may also depend on the credit score of its applicants, just like other lenders.
SBI Real Time Xpress Credit
- Government or defense salary package account holders with KYC compliant account are eligible for SBI Real Time Xpress Credit Personal Loan
- Minimum Net Monthly Income should be Rs 15,000 and above for Real Time Xpress Credit and Rs 1 lakh and above for Real Time Xpress Credit Elite
- EMI/NMI ratio of the eligible applicant should be less than 50% for Real Time Xpress Credit and less than 60% for Real Time Xpress Credit Elite. The EMIs of the existing loans and that of the proposed personal loan would be factored in while calculating the EMI/NMI ratio.
SBI Quick Personal Loan
- Minimum age of the applicant should be 21 years at the time of loan application and maximum age should be 58 years at the time of loan maturity
- This loan facility can availed by applicants who not maintain their salary account with SBI
- Minimum monthly income of the applicant applying for SBI Quick Personal Loan should be Rs 15,000
- Applicants should have their total EMIs, including the EMIs of proposed loan and existing loans, within 50% of their monthly income
- Employees working with Central/ State/ Quasi-Government, Central and State PSUs, corporates and educational institutions with at least 1 year service are eligible for availing SBI Quick Personal Loan
Pre-approved Personal Loan
- For CSP and Non-CSP customers
- For savings bank account holders
- The SBI savings bank account holders can SMS the last 4 digits of SBI savings bank account no. to 567676 to check the eligibility

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SBI Pension Loan
For Central/ State Government Pensioners
- Age of the applicant should be below 76 years
- Pensioners applying for SBI Pension Loan should have a pension account with SBI
- The pensioner should provide an irrevocable undertaking not to alter the mandate to the Treasury during the loan tenure
- The Treasury should give in writing mentioning that no transfer of pension payment to any other bank without an NOC
- All terms and conditions are applicable, including guarantee by a third party or by the spouse
For Defense Pensioners
- Maximum age of the applicant at the time of loan maturity should be up to 76 years.
- Pensioners from armed forces such as Navy, army, Air Force, Paramilitary Forces (BSF, CISF, CRPF, ITBP), Coast Guards, Assam Rifles and Rashtriya Rifles are eligible to apply for SBI Pension Loan
- The applicants should have a pension account maintained with SBI
For Family Pensioners
- Maximum age of the applicant should be up to 76 years
- In case of the pensioner’s death authorized family members can receive the pension
For SBI Xpress Flexi Personal Loan
- Individuals employed with Central/State government, Quasi Government bodies, Defence/Central Armed Police, Indian Coast Guard, Central and State PSUs and Private and Public Limited Corporates are eligible for applying for SBI Xpress Flexi Personal Loans
- Applicant should have minimum monthly salary of Rs 50,000
- Applicants should have diamond and platinum category salary package account with SBI to avail this loan facility
Also Read: What is the minimum CIBIL score required for availing SBI personal loan?
Documents Required for Loan Application
Xpress Credit Loan
For Salaried Individuals
- Duly filled application form along with passport-sized photographs
- Identity Proof: Passport, PAN card, Voter Identity Card, Driving License, Aadhaar Card
- Address Proof: Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement (for owned properties), Aadhaar Card
- Income Proof: Bank Account Statement, Salary Slips, ITR, Form 16
- Copy of ID card issued by the employer
- Irrevocable Letter of Authority addressed to disbursing authority
- Irrevocable Letter of Authority from the person authorized to disburse salary and allowances
- Any other document required by SBI
For DSP-PMSP-ICGSP (Defence Salary Package/Para-military Salary Package/Indian Coast Guard Salary Package)
- Duly filled application form with 2 recent photographs
- ID Proof: PAN card, driving license, passport, voter ID, Aadhar card,
- Residence Proof: telephone bills, electricity bills, passport, voter ID
- Last 6 months bank account statement where salary is credited
- Salary slip for last 6 months

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SBI 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

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SBI Personal Loan Customer Care
Toll free number:
1800 11 2211
1800 425 3800
1800 1234
1800 2100
Know more about SBI Personal Loan Customer Care Number and grievance redressal process
FAQs
1. How long does it take SBI to disburse a personal loan?
Ans. Banks and NBFCs usually disburse personal loans within 2-7 days of making a personal loan application. However, pre-approved personal loans offered to select customers by the SBI may have quicker disbursal. Lenders like Axis Bank, HDFC Bank, Bajaj Finserv and ICICI Bank also offer pre-approved/pre-qualified personal loans to select customers with instant disbursal. Click here to apply for pre-approved instant personal loan, if eligible, offered by top lenders
2. Can I include my spouse’s income for calculating the loan amount?
Ans. No, you cannot include your spouse’s income when applying for an SBI personal loan. However, your spouse can apply for a personal loan separately, if eligible. Some lenders may allow spouses or other specified family members to apply as co-applicant. In such cases, the lenders may consider the income of the co-applicant while evaluating the loan amount and application.
3. Can I choose between a fixed or floating rate for the personal loan?
Ans. SBI offers personal loans only on fixed interest rates. It does not offer personal loans on floating interest rates.
4. What is the minimum credit score required for availing SBI personal loan?
Ans. While SBI has not explicitly stated their cut-off credit score, applicants having credit score of 750 and above would have higher chances of availing personal loan.
5. What is the minimum salary required for availing SBI personal loan?
Ans. The minimum monthly income required for availing SBI personal loan is Rs 15,000. SBI prefers personal loan applicants having EMI/NMI ratio less than 50% including EMIs of the existing loans as well as the proposed loans. Using personal loan EMI calculator would allow the applicants to opt for personal loan tenure and EMI within the aforesaid limit.
6. I don’t have a salary account with SBI. Can I apply for a personal loan?
Ans. Personal loan applicants not having their salary account with SBI can apply for SBI Quick personal loan.
7. Is it possible to get a personal loan from the SBI with a salary under 20,000?
Ans. Yes, applicants with a salary of Rs. 15,000 and above can also apply for a personal loan from SBI.
8. Can retired individuals avail personal loan from SBI?
Ans. Yes, retired individuals holding pension account with SBI can avail personal loan from SBI through SBI Pension Loan scheme.
9. What is the EMI for personal loan of Rs 10 lakh offered by SBI?
Ans. SBI currently offers personal loan at interest rates starting from 11% p.a. onwards for tenures of up to 5 years. The EMI of your personal loan of Rs 10 lakh would depend on the interest rate and loan tenure offered by SBI. The below-mentioned table shows the EMI of SBI personal loan of Rs 10 lakh for various SBI personal loan interest rates and tenure of 5 years.
Loan Amount (Rs) | Interest Rate (p.a.) | Tenure (years) | EMI (Rs) |
10 lakh | 11.00% | 5 | 21,742 |
10 lakh | 11.00% | 5 | 21,742 |
10 lakh | 11.15% | 5 | 21,817 |
10 lakh | 11.25 % | 5 | 21,867 |
10 lakh | 12.00% | 5 | 22,244 |