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Loan Details
Bank Name
SBI
Minimum Loan Amount
INR 20 Lakhs
Interest Rate
11.25%-13.50% for government employees. 12.25% 14.25% for private sector employees.
Minimum CIBIL Score
N.A.
Minimum Loan Tenure
Upto 2 years.
SBI Quick Personal Loan
Fees and Charges
- Processing fee: 1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-) plus GST
- Penal Interest @2% p. m would be charged over and above the applicable interest rate on overdue amount for the period of default.
- Prepayment charges of 3% on prepaid amount.
- No prepayment/ foreclosure charges if account is closed from the proceeds of a new loan account under same scheme.
Eligibility
- Individuals having Salary Account with any other Bank.
- Minimum Net Monthly Income: Rs. 15,000.
- EMI should be less than 50% of your income.
- Borrower should have completed atleast one year of service.
- Age 21-58. Minimum loan amount should be INR 24,000, maxium can be INR 20,00,000.
Special Concession
Yes for government employees.
Fees, Eligibility and Concession
Pros
- Lower interest rate in comparison to other banks.
- Concession for government employees.
- Low processing fee charges.
- No annual maintainence charges.
- Low salary threshold.
Cons
None.
Pros and Cons
Purpose
Loan can be used for any purpose.
Special Features
Lower interest rate in comparison to other banks, especially for government employees.
Purpose and Features
How to Apply?
You can apply online through SBI website.
Documents Required
KYC documents.
Account Opening and Procedures
Product Review
About this content
Public source: Original MyRupaya page
Captured 2026-11-10T05:16:35.313021+00:00. Public page text has been preserved and restyled. Historical financial/product information may be outdated. Embedded widgets and forms are not copied or connected to live services.
