SBI Personal Loan and Its Wide Range of Schemes You Need to Know

Looking for funds to meet your personal needs instantly? If yes, look no further than availing a personal loan. Yes, being an unsecured credit facility, this loan comes handy to meet your multiple requirements such as home renovation, credit card debt payment, travel, buying an expensive home appliance,etc. And, as far as availing the same is concerned, it is always advisable to avail the same from the best lender.

No other lender is better than State Bank of India to go for this unsecured credit facility. Yes, we are talking about SBI personal loan, one of the renowned names in the industry, worldwide known for its best of products and services.

An Intro

Talking about PL, the same is available at an interest rate that ranges between 10.65%-15.05% per annum for a tenure of up to 5 years. The loan amount being offered by the bank lies between Rs.24,000-15,00,000 along with paying a one-time processing fee of up to 0.50% of the loan amount. However, if we go deep down into the matter, this lender offers plenty of schemes under its online personal loan segment. And, each of the schemes has been thoughtfully designed to fulfill the needs of the varied people. So, let’s discuss each scheme in detail in the article below:

Xpress Credit

For any urgent need of yours, this scheme is apt. It is easy to avail the same as it comes with minimal documentation and no-hidden and prepayment charges. Talking about the personal loan interest rates, they range from 11.15%-15.05% per annum, which offers the loan limit of up to Rs.15 Lakh. This credit facility comes to you at flexible tenure options of 5 years so that you can easily repay the loan.

Xpress ELITE

Those who are maintaining the salary account in SBI or in any other bank can avail this scheme, which is a combination of a credit score in addition to 2-Year MCLR. The interest rates stand at 10.65%-12.40% per annum, giving you the maximum loan amount of up to Rs.15 Lakh for a tenure of 5 years.

Xpress Bandhan

This SBI Personal loan online scheme is for salaried employees not maintaining the salary account with the bank. Employees working in Central/ State Governments/ Defence Establishments, Quasi Government Bodies, PSUs, Educational Institutions of National Repute, Select Rated Corporates are eligible to apply with the monthly income of Rs.50,000. The interest rates range between 12.15%-15.15% per annum for a tenure of 5 years.

SBI Pension

This type of loan is being provided to such pensioners who are receiving their pension through Central and State Government. This scheme comes with a nominal processing fee and no-hidden & prepayment charges. The personal loan interest rates online for this scheme stands at 11.60% per annum, which comes with a zero processing fee. Now that you are aware with the rates, it would be advisable that you should use SBI personal loan EMI calculator online so as to know the exact calculations related to your EMIs.