State Bank of India Personal Loan 2020

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State Bank of India (SBI) provides the best Personal Loans to the citizens of India. With low processing fees up to 1 % (excluding taxes) of the loan amount, SBI offers various Personal Loan plans including SBI Xpress Power Personal Loan and SBI Xpress Credit Personal Loan. All the adult salaried and self-employed individuals in India who are the citizens of India can apply for these Personal Loans up to Rs.15 Lakh with the interest rates ranging from 10.50% to 16.55%. SBI offers the loan tenure up to 5 years.

State Bank of India (SBI) Xpress Credit Personal Loan

Loan amount                   Up to Rs. 15 lacs
Age                                  21 to 60 years
Interest rate                     10.50% – 16.55% p.a.
Processing fee                 1% of the loan amount + applicable tax
Minimum income            Rs. 5000 per month
Loan tenure                      Maximum 60 months or residual service period whichever is less

SBI offers Personal Loans at the lowest interest rates starting from 10.50%. You can avail personal loan from SBI is upto  15 lakhs & maximum tenure 5 years. whether you are service personnel, salaried individual, self-employed, or even a retired individual. These loans can be used to meet any unexpected expenses such as medical emergencies, travel or even other personal expenses such as weddings, higher education, or purchase of consumer durables.

  • SBI offers high loan amount.
  • Quick disbursal of funds.
  • Fast loan processing.
  • Customer service is available 24×7.
  • Lowest interest rate makes SBI personal loan most affordable.
  • Specialized personal loan schemes and discounts b SBI.
  • SBI personal loan does not require any collateral or security.
  • Zero prepayment penalty.

Why Choose SBI Personal Loans?
SBI has best loan schemes for funding all your financial needs.
Personal loans at SBI comes with lowest rates of interest, making your loan affordable.
Quick loan processing and disbursal of funds into your account (within 1 to 7 days).
No penalty on prepayment of loan in part or full.
Pan India reach, pay online or from any SBi Branch or ATM.
Collateral-free loan
lowest processing fees compared to the other products available in the market.

Features and Benefits of SBI personal Loan
Lucrative Rate of Interest: SBI ensures that it’s customers get one of the lowest personal loan interest rates and hence is customer-friendly. The interest rates are aligned with daily recurring balance basis, thus ensures maximum benefit to the borrower.

Schemes and Offers: The bank offers a wide range of discount schemes on personal loans at regular intervals and mostly on occasions like Diwali and other festive events.

No Hidden Charges: SBI ensures that the borrowers do not incur any extra cost during the processing and repayment period other than standard applicable rates.

Instant Loan Approval: SBI enables it’s customers to avail the loan at minimal documentation, resulting in quick and smooth disbursal of funds.

Online Loan Submission: SBI assures it’s customers that by simply providing their details online including the application form and other relevant details, a loan can be processed by the online measures itself.

SBI Xpress Power Personal Loan
SBI’s Xpress Power, earlier known as SBI Saral Personal loan, ensures that an applicant gets access to the funds without an obligation of maintaining a salary account with the bank. This loan is offered to government employees including Central and State governments, Armed forces, Educational Institutes, and selected corporates. The loan can be availed in the form of a Term Loan or as an Over-Draft facility in case of variable needs over a period of time.

Features for SBI Xpress Power Personal loan –
One can avail this loan on an urgent basis for any purpose, be it for medical emergencies, travel, education, wedding and others
The disbursal amount depends on your Net Monthly Income (NMI) and Repayment Capacity. Here, one can avail a loan up-to 24 times of NMI or ₹ 15 Lakh, which is required to be paid off in 60 EMIs
The minimum amount of loan provided is ₹ 25,000 for metro/urban areas and ₹ 10,000 for rural/semi-urban areas
No security/collateral required for the processing of the loan
Minimal documentation required. For example, a passport size photograph will do for an existing SBI customer. For salaried employees, Form 16 and latest salary slip will be required, in addition
The processing fee levied is 1% of the total loan amount. However, the bank also has a provision for concession up-to 0.5% in case a ‘Check-off’ is provided during the processing or the total loan amount is equal or above ₹ 10 Lakh

SBI Customer Care
For queries, complaints or any other information, you have a dedicated customer service number as follows:

24X7 toll free numbers


Other contact number


Email ID

Write to:

Deputy General Manager,

Customer Service Dept.

State Bank of India,

State Bank Bhawan,

4th Floor

Madame Cama Road,


Features :

  • Loans up to Rs. 20 lakhs
  • Low interest rates
  • Interest on daily reducing balance
  • Low processing charges
  • Minimal documentation
  • No hidden costs
  • Provision for second loan
  • No security, no guarantor

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