Apply SBI Personal Loan Online

SBI personal loan interest rates depend on the following factors:

• Credit Score: Applicants having a credit score of 760 and above usually have higher chances of getting their loans approved at lower interest rates.
• Income and Employment Stability: Salaried individuals, specially those employed with government sectors and reputed private companies are usually offered lower interest rates as compared to self-employed individuals.
• EMI/NMI Ratio: Individuals having their EMI/NMI ratio below 65% are considered creditworthy by SBI and are hence eligible for lower interest rates.
• Existing Relationship with the Bank: Existing customers of banks and NBFCs having their loan/FD/current/savings account with the bank or have availed a credit card from the bank with a good repayment history are eligible for lower interest rates.

SBI personal loan EMI calculator is a financial tool that helps in evaluating the total EMIs and interest cost payable throughout the loan tenure. Individuals can use the Personal Loan EMI Calculator available online on various banking websites or on financial platforms like Paisabazaar.

How to Use the EMI Calculator

The EMI calculators works in the following manner:

• Visit the EMI calculator available online.
• Enter the loan amount, interest rates and loan tenure.
• Click on “calculate”.
• The results are reflected instantly.

SBI Personal Loan EMI Examples

SBI Personal Loan EMI for Different Tenure:

SBI Personal Loan EMI for Different Interest Rates:

SBI Personal Loan EMI for Different Loan Amounts:

Eligibility for Salaried Individuals

Eligibility for Penioners

CIBIL Score Requirement

SBI has not disclosed the eligible CIBIL score required to avail personal loans. However, applicants having a CIBIL score of 760 and above usually have higher chances of loan approval at lower interest rates

Below is the list of SBI personal loan documents for salaried individuals:

• Duly-filled application form along with the applicant’s photograph
• PAN
• At least one copy of the Officially Valid Documents (OVDs)
• Latest ITR or Form 16 (Not needed for salaried individuals not paying income tax)
• Past 6 months’ salary slips
• Salary account statement of the past 6 months

Apply via YONO App

• Access your account via the YONO app.
• Tap on the personal loan banner to get started.
• Fill in your Date of Birth and PAN details.
• Select the loan amount and repayment tenure.
• Enter the OTP for verification, and the funds will be credited to your account.

Apply via Paisabazaar

As SBI offers personal loans to applicants having their salary account in SBI, other applicants can apply for personal loan through Paisabazaar by following the steps mentioned below.

• Login to Paisabazaar Loan app.
• Click on “Personal Loans” on the dashboard.
• The app analyses your credit profile.
• Customized offers from partner lenders are displayed on the screen.
• Apply for the lender best suiting your requirements.

Some applicants may get better offers from other lenders than that offered by SBI. In such cases, applicants can apply for personal loan through Paisabazaar by following the steps mentioned above.

• Instant loan processing and disbursal.
• Offered to select existing customers having a good credit profile.
• Loan amount of up to Rs. 15 lakh.
• Available through the YONO App.
• Requires no paperwork or branch visits.
• Available 24*7 basis.
• SBI account holders are eligible.

Below-mentioned are the fees and charges levied on SBI personal loan applicants:

SBI Personal Loan to Salaried Employees

• Offered to salaried employees having their salary accounts with SBI.
• Loan amount of up to Rs. 35 lakh.
• Tenure up to 7 years.

SBI Pre-approved Personal Loan (PAPL) on YONO

Offered to savings account holders of SBI through the SBI YONO App or through the internet banking facility.

SBI Real Time Xpress Credit

• End-to-end digital loan for salaried customers maintaining salary accounts with SBI.
• Available through the SBI YONO app.
• Instant loan disbursal.
• Loan amount of up to Rs. 50 lakh.

SBI Personal Loan to Pensioners

• Offered to central/state government/defence/family pensioners.
• Pension accounts maintained with SBI.
• Loan amount of up to Rs. 20 lakh.
• Tenure of up to 6 years.

You can improve your SBI personal loan approval chances in the following manner:

• Maintain a credit score of 760 and above.
• Keep EMI/NMI ratio below 65%.
• Show job and income certainty .
• Keep credit utilization low.
• Avoid multiple loan applications in a short span.
• Add a co-appliant with a strong credit profile.

• Low credit score.
• High credit utilization ratio.
• Incomplete or wrong documents.
• Many loan applications in a short span.
• High EMI/NMI ratio.
• Unstable employment.
• Inconsistent or low income.