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Sbi

Sbi Loan

Last Updated 25th Feb 2021

Lowest Interest Rate
Processing Fee
Loan Tenure -
Loan Amount -
Age - years
  • Sbi Loan is an instant loan that can be availed through Sbi app within 24 hours. These loans are easy loan with no documents and credit history required.
Apply for Personal Loan @ 10.40%* Get upto ₹ 1,000* Cashback

SBI App

SBI is a mobile and web-based platform designed to provide instant personal loans with minimal documentation digitally. Driven entirely by technology, the customers can get the credit approved in minutes. Along with instant credit, the application also provides 24*7 customer care services 365 days a year to the customers and offers various products, like cash loans, salary advances, and instant loans making it a popular choice for borrowers. An easy solution to a loan for everyone, getting credit through the SBI, has the following advantages:

  • Nil prepayment charges on SBI personal loan
  • Superior customer service and transparency
  • Quick and easy approval

SBI Personal Loan

  • SBI Personal Loan Interest Rate starts from .
  • SBI charges a processing fee of on personal loan.
  • Loan tenure of Personal Loan ranges from to .
  • Get a personal loan of to from SBI.

SBI Interest Rate

SBI interest rate starts from on personal loan, which is decided based on the income, occupation and credit history of the customer.

SBI App Download

  • The application can be easily installed by downloading from the play store. To download the application enter your mobile number.
  • An OTP with the downloading link will then be sent to the number.
  • Users can easily install the application by clicking on the link sent on the mobile number.

How does SBI work?

The process of getting credit through SBI is quick as the process is entirely online with no physical work. To get a loan through SBI, one needs to follow the following steps:

  • Checking eligibility: You need to create an account with SBI to get credit. Once you download the app, you will be required to give some permissions and basic information based on which the app will calculate your eligibility.
  • Filling details: After successfully checking the eligibility criterion, you will need to fill in all the necessary details to get the credit.
  • Providing bank details: You need to submit your bank accounts details for the disbursement of credit to your account.
  • Getting loan: The amount of credit will then be directly transferred to your bank accounts.

SBI Personal Loan Documents

The disbursement of the loan is fast and requires a minimum of documents as compared to other loans. These are the documents that you need to submit for the loan.

  • Photo Identity proof: PAN Card
  • Permanent address proof: Aadhar card / Voter card / Utility bill / Driving license or Passport
  • Your selfie
  • Latest salary slips

SBI Customer Care

SBI has a dedicated customer care support line. If you are not satisfied with the services provided by the application, you can contact on the customer support line.

You can either raise your concern or complaint on customer service email .

FAQs

What is the interest rate of SBI?

SBI offers affordable and convenient personal loans to salaried employees at an attractive rate of .

What is Eligibility Criteria of SBI?

To apply for credit from the application, one needs to meet the minimal documents and eligibility criteria. Unlike any other loan, it does not require any credit history to avail of the loan.

  • Age of the borrower: Any Indian citizen who falls in the age bracket of to years can get the credit.
  • Loan Amount: It provides credit in the range of to .
  • Tenure: The credit is provided for a tenure of to .
  • Income: To avail credit from SBI, a citizen must have a regular income of .
  • Credit score: Getting credit from SBI is easy as you don’t require any credit history to avail of the credit.

How do I repay my SBI loan?

The credit taken through SBI loan can be repaid through multiple modes like Debit card, UPI, Netbanking, and wallet.

How do I get a loan from SBI?

The process of getting a loan through SBI is easy, quick, and affordable. You need to follow these steps to get credit from SBI.

  • Install the application from the play store.
  • Register yourself via mobile number.
  • Fill in necessary personal details and submit the KYC documents.
  • The application is reviewed online as soon as possible.
  • After reviewing of application, the agreement is signed online, and the loan amount is disbursed.

Which is the best instant personal loan app?

There are various personal loan applications like Cashbean, Kreditbee, Cashe, Loantap, Paysense, and Early salary, which provides instant loans at attractive prices. You can compare the rates of these applications on myloancare.in

Is SBI a safe site?

The data shared by SBI is transferred to the lenders with the consent of borrowers over a secure connection.

Does SBI check the CIBIL score?

No. SBI provides loans to everyone without any verification of credit history.

How can I get a salary in advance?

SBI provides salary advances to working professionals for overcoming any financial constraint. It offers advances with a limit of to at zero credit history.


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SBI Personal Loan News - Mar 2021
  • 2021-02-23 : SBI launched YONO Merchant app
    SBI Payments launched YONO Merchant App to expand the digitisation of merchant payments in the country. The Bank is aiming to create a Payments Infrastructure Development Fund (PIDF) to encourage acquirers to deploy Point of Sale (PoS) infrastructure in lesser penetrated areas of the country.
  • 2020-12-10 : SBI recasts only 4,000 retail loans
    SBI has recast loans of just around 4,000 retail customers so far under the limited window of the RBI, indicating that barring micro, small and medium businesses, not many are availing of easier repayment norms. The bank clarified that 100,000 retail borrowers logged on to its website to check their eligibility, but not many were found to have met the stringent conditions set by RBI.
  • 2020-12-10 : SBI goes easy on a plan to spin off Yono
    State Bank of India is going slow on its plans to divest its stake in digital platform Yono, YONO is a digital initiative by SBI and stands for “You Only Need One”. YONO helps customers to apply for retail loans like home, personal, gold, two-wheeler and car loan along with business and mudra loans digitally. Further, it also helps in investing in FD and RDs. The special digital tool also provides the facility to apply for the current and savings account.
  • 2020-11-11 : SBI to focus on financial inclusion
    SBI is planning to increase the share of its newly created business vertical, financial inclusion and micro-markets from the current 12% to 20% by March 2022. The bank recently created a separate FI&MM vertical within the bank with an aim of financial inclusion of rural and semi-urban areas to improve customer experience in the hinterland.
  • 2020-11-05 : SBI net profit rises to ₹4,574 crores in Q2
    SBI September quarter net profit jumped 52% year-on-year to Rs 4,574.16 crore as the provisions declined during the quarter. Credit growth for the bank logged an improvement of 6.02% over the previous year driven by home, personal, car, two-wheeler and gold loan along with mudra and business loan. Total advances at the end of Q2 were at Rs 23.83 trillion. Further, total Deposits which includes fixed and recurring deposits grew at 14.4% on a yearly basis to Rs 34.70 trillion, out of which current account deposit grew by 8.55% YoY while saving bank deposits grew by 16.28 per cent YoY.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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