SBI Personal Loan 2024 : Friends, nowadays many people are in urgent need of money. Getting a personal loan from SBI has become hassle free for you. Taking a personal loan from SBI just got easier, here is the step-by-step process to apply for one detailed below. So let's now know all the detailed information of SBI Personal Loan 2024.



SBI પર્સનલ લોન 2024

SBI Personal Loan 2024 : State Bank of India (SBI), one of India's leading banks, has recently increased the personal loan limit for its customers to Rs. 20 lakh has been done. This increase in loan amount is available through online application. This loan option is especially beneficial for individuals seeking financial assistance to meet personal needs

SBI Personal Loan 2024 Eligibility Criteria

SBI Personal Loan 2024 : To qualify for a personal loan from State Bank of India (SBI), applicants must fulfill certain eligibility criteria. Here is a detailed overview:

  • Nationality: Only Indian citizens are eligible to apply for a personal loan with SBI.
  • Account Requirement: Applicants must have an active account with SBI.
  • Minimum Monthly Income: For a personal loan the applicant's monthly income should be more than ₹15,000.
  • Eligible Employment: Individuals from various employment sectors including Central Government employees, State Government employees and those working in private companies are eligible to apply.
  • Age Requirement: The age of the applicant should be between 21 years to 58 years to be eligible for the loan.

Necessary documents

Ensuring that all the required documents are in order and meet the eligibility criteria will facilitate a smooth application process for a personal loan with SBI.
  • Income Tax Return (ITR) Document: Proof of income tax return for a specified period.
  • Aadhaar Card: A valid Aadhaar card serving as proof of identity.
  • Salary Slip: Recent pay slip showing applicant's monthly income.
  • Last 6 Months Bank Statement: A statement showing transactions from the applicant's bank account for the last six months.
  • PAN Card: A valid PAN card serving as identity and tax proof.

Ensuring that all the required documents are in order and fulfilling the eligibility criteria will facilitate a smooth application process for a personal loan with SBI.

  • Interest rate and repayment on loan
  • SBI Minimum Rs. 24,000 starting from a maximum of Rs. Offers personal loans up to 20 lakhs.
  • The interest rates charged by the bank are usually between 11.15% and 14.55%. These rates are influenced by factors such as the borrower's credit profile and the loan amount requested.
  • Additionally, borrowers should note that there is a 1.5% processing fee along with GST, which is deducted from the loan amount.
  • For the convenience of borrowers, SBI allows a maximum repayment period of up to 72 months.

How to Apply Online for SBI Personal Loan 2024

  1. Start by visiting the official website of State Bank of India www.onlinesbi.sbi
  2. Navigate to the loan section and find the “Personal Loan 2024” option.
  3. Click on “Apply Now” to start the application process.
  4. You will be directed to a registration form where you will need to provide your personal information such as name, address, contact details etc.
  5. Fill the form accurately and ensure that all required fields are completed.
  6. Once the form is filled, proceed to upload the required documents specified by the bank. These usually include identity proof (such as Aadhaar card or passport), address proof, income documents (such as salary slip or income tax return), and PAN card.
  7. After uploading the documents, review all the details entered in the form to ensure accuracy.
  8.  Once satisfied, click on the “Submit” button to send your application to the bank.
  9. Then your application will undergo verification by the bank officials.
  10. During the verification process, a bank representative may contact you for any additional information or clarification.
  11. On successful verification, the loan amount will be disbursed directly to your bank account.
  12. You will receive a confirmation regarding approval of your loan application along with terms and conditions.
  13. Be sure to review the terms carefully before accepting a loan offer.
  14. Once accepted, the loan amount will be credited to your account within few hours.
By following these steps, you can easily apply for a personal loan at State Bank of India and get the financial support you need to meet your personal needs.