When it comes to availing a personal loan, many of you will surely agree on the fact that there are a few lenders considered to be an ideal option for the same. And, talking about a few lenders how can SBI be missed? That’s Right! Being country’s largest lender, there is no denying the fact that State Bank of India with its best of services rules the roost, especially when it comes to PL offering. So, let’s just move forward by giving you an insight of this product being offered by this bank below.
Interest Rates: Talking about SBI personal loan interest rate 2018, you will surely agree on the fact that any loan journey begins with knowing the rates first. Currently, the lender is offering the loan to the applicants at a rate of 10.75%-15.15% per annum. If we go deep down into the matter, with this range, it is easy for the applicants to repay the loan as these rates allow you to repay the loan easily with pocket-friendly EMIs. Yes, with lowest personal loan interest rates less burden will be there on an applicant’s shoulder when it comes to repayment.
Eligibility Criteria: As far as SBI personal loan eligibility is concerned, there is no denying the fact that there are plenty of factors that lenders usually take into account. Yes, while giving away you the loan, the lenders take into consideration many factors such as-age, income, credit score, job stability, work experience and relationship with a lender. After evaluating the profile of an applicant on the above parameters, the lenders then decide whether an individual is worthy enough to avail a loan or not.
Documents Required: If you are someone who wants to enjoy a hassle-free loan journey, documentation is something you need to look after. Yes, without the complete list of documents, it would be difficult for you to get your loan application approved as there are higher chances that your application gets rejected. Thus, in order to avoid such a situation, it is advisable that you should check all the documents before submitting and ensure that they are error-free also so that you can get the best personal loans deal.
EMIs: Now that we have come down to one of the most important points, i.e. EMI, so let’s talk more about the same. When it comes to your equated monthly installments, make sure that they are easy on your pocket. Yes, with affordable EMIs, you would be able to easily repay your loan in the future as less burden will be there on your shoulders. And, in order to get more clarity regarding the EMIs, you can use the SBI personal loan EMI Calculator that lets you know the exact and accurate calculations of your EMIs in a hassle-free manner. Yes, this magical device functions so quickly that within a few seconds, it gives you the accurate values so that you can take a calculative decision in the future.