Check SBI Loans offers online
SBI Loan Eligibility: You are eligible for a loan if you are:
- Salaried individual
- Self employed individual
- Self employed professional like doctor, lawyer, etc.
- Aged above 18 years
- Have a good CIBIL credit score
- Good repayment capacity with fixed & stable income source
- Overall banks rating for the company you work for
- Try our Personal Loan eligibility Calculator to check how much loan amount you are eligible for.
SBI Loan documentation: SBI loan documentation process is minimal and generally banks require the following document:
- Identity proof (Pan card, Passport, etc.)
- 3 to 6 months bank statement (if salaried then bank statement of your salary account)
- Residence proof (rent agreement, property document, ration card, etc)
- Salary Slips
- In case of self-employed banks require balance sheets, profit & loss account, partnership deed & other documents etc.
Details of SBI Loan
- Personal Loan Interest Rate.(Monthly reducing balance)
- 14.25% to 49% fixed. Check Customized Interest Rates Now!
- Processing Fees
- 1% to 5% of loan amount
- Personal Loan Tenure
- 1 year to 5 years
- Personal Loan Amount
- Rs. 1 lakh to Rs. 20 lakhs
- Pre-closure Charges
- 4% of pre-closed amount
- Guarantor Requirement
- No guarantor required
Details of Home Loan
- Home Loan Interest Rate.(Monthly reducing balance)
- 10.5% to 14.25% floating. Check Customized Interest Rates Now!
- Processing Fees
- 0.5% to 1% of loan amount
- Home Loan Tenure
- 1 year to 20 years
- Home Loan Amount Funded
- Up to 85% of property value
- Pre-payment Charges
- 0% to 2% of amount being prepaid
- Pre-closure Charges
- 0% to 2% of amount being preclosed
- Guarantor Requirement
- No guarantor required
Details of Car Loan
- Car Loan Interest Rate.(Monthly reducing balance)
- 10.50% to 14.25% floating. Check Customized Interest Rates Now!
- Processing Fees
- Up to Rs. 3,650
- Car Loan Tenure
- 1 year to 5 years
- Pre-closure Charges
- 3% to 6% of foreclosed amount
- Car Loan Amount
- Varies based on car model. Up to 100% financing for pre-approved customers.
- Guarantor Requirement
- No guarantor required
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- What are the interest rates for SBI Loans?
Each bank will have different Interest rates. Interest rates will also vary depending on each individual’s eligibility criteria’s. Typically Interest rates start at 12% and can go up to 28%.
- What are the interest rates for SBI Loans?
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- How much money am I eligible for?
You can borrow as much as you can repay. This in banking terms would mean a Loan that has an EMI that does not exceed 40% of your monthly take home income, where the EMIs for existing loans are also deducted.
For self-employed applicants, profit is the benchmark that determines loan value. The longer the time frame for repaying the loan the lower the EMI and this also means you can opt for a larger loan amount. The loan amount you are eligible for is also dependent on other factors like the company you are employed with, the location of your residence and your credit history.
- How much money am I eligible for?
- Can I have a co-applicant for a SBI Loan?
Yes, you can opt for a co-applicant. This can help you increase the loan amount you are eligible for as the income of the co-applicant is also taken into consideration.
