Hello friends! Nowadays there are many tasks for which a person needs a loan. At present almost all banks provide loan facilities. Among these, SBI Bank is the bank providing maximum loans in India. In this too, personal loan is the most commonly taken type of loan. If you also want to take a loan from SBI Bank, then the easy process of SBI Personal Loan Scheme 2024 is explained in this article.
SBI Personal Loan
SBI Personal Loan is a collateral free loan i.e. you do not need to pledge any valuables or property for this loan. This is an unsecured category loan. To avail a personal loan, your CIBIL score should be good. Generally, a personal loan is easily available if the CIBIL score is more than 750 .
SBI Personal Loan Interest Rate
| Applicants | Effective Interest Rate |
| Defence/ Central Armed Police/ Indian Coast Guard | 11.15% – 12.65% |
| Govt/ Police / Railway/ Central Public Sector | 11.30% – 13.80% |
| Other Corporates | 12.30% – 14.30% |
| Salary Account with SBI | 11.15% – 11.65% |
| Salary Account with another Bank | 11.40% – 11.90% |
SBI Bank’s interest rates for personal loans are given in the table above. Their interest rates vary according to the type of loan given.
Benefits of SBI Personal Loan
- SBI personal loan is a collateral-free loan.
- For this there is no need to mortgage any item or property.
- SBI also provides you the facility of Top Up Loan on Personal Loan.
- Its processes are very fast.
- The loan amount is provided quickly to the applicant.
- This requires less documents.
Top Up Loan
When you take a loan from a bank and for some reason you need more money, then in such a situation the bank gives you the facility to increase the amount of the same loan. This process is called Top Up Loan . With its help, you do not need to take another separate loan.
How to take personal loan from any bank, how to take personal loan
Required Documents
To take a loan from SBI Bank, you need some documents. These documents are- Aadhar Card, Identity Card, Income Certificate, PAN Card, Domicile, Current Residence Proof, Bank Account Passbook, 6 or 12 months bank statement, Mobile Number and Passport size photograph. You also need a blank check to take a loan.
Apart from this, if you are a government employee then you can use your Employee ID and if you are in a private job then you can use your organization’s ID card for proof.
Process to take loan from SBI Bank
- First of all, collect the documents required for taking loan from SBI Bank at one place and make a file of them.
- Now go to your nearest SBI bank branch.
- Get information about SBI personal loan from the loan officer at the bank branch.
- Get complete information about loan interest rate, monthly EMI and documents.
- Now give information about your business or job to the bank officer.
- The bank officer will check your documents and business.
- After this you will be told the maximum payable amount for personal loan.
- Now you will be asked for photocopies of the documents.
- Now after completing a prescribed process by SBI Bank, the loan amount will be deposited in your account.
- Through this process you can take personal loan from SBI Bank.
Keep in mind:- While getting information about SBI Personal Loan Scheme 2024, read the loan related policy carefully and keep complete clarity in the interest rate and other information. The loan application cannot be canceled under any circumstances after the loan amount is received in your account.