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SBI Personal Loan Eligibility Calculator India Jul 2017

Last Updated 24th Jul 2017

SBI Personal Loan Eligibility

Eligibility Conditions Salaried Self Employed
SBI Rate of Interest 12.50% - 16.60% 11.20% - 16.30%
Lowest EMI Per Lakh Rs. 2,658 Rs. 2,594
Age 21 - 58 years 21 years - 65 years
Maximum Loan Amount Rs. 1,500,000 Rs. 1,000,000,000
Minimum Work Experience 24 months 60 months
Maximum Tenure 48 months 48 months
Personal Loan Eligibility Calculator
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Eligibility based on Age

  • Age: There is an age criteria for the approval of personal loan. The minimum age requirement for availing personal loan is 21 years and maximum is 58 years. SBI offers personal loans for a maximum period of 48 months.

Eligibility based on Income

  • Net Income: Your net income required to avail personal loan is Rs. 24,000 per month. Your eligibility is majorly determined by your income (Net take home salary).Your capability of paying EMI’s is judged on the basis of income earned. As your loan EMI’s are not affecting your living standards.
  • Job stability and profession: Job stability is important to improve your status and eligibility for personal loan from SBI. As job experience of minimum 24 months is must and applicant should be employed for at least 12 month in current job.
  • CIBIL Score for personal loan: Bank will check your past and current repayment history on loans and credit card. So, the required CIBIL Score is 700 & above.

Frequently Asked Questions

What are the eligibility criteria to avail SBI loan?

The minimum age of the applicant required to get personal loan from SBI is 21 years. The maximum age for salaried employees can go up to 58 years.

What should be the minimum net monthly income of the customer to get SBI personal loan?

The minimum income for salaried employee should be Rs. 24,000 per month.

How much work experience is required for personal loan from SBI?

The applicant must have at least work experience of 12 months in order to avail the benefit of SBI personal loan.

What is the maximum loan amount an applicant can get?

The maximum loan amount an applicant can get under personal loan from SBI is up to Rs. 1,500,000.

Will CIBIL Score affect my personal loan from SBI?

Yes, CIBIL Score does have an impact on your personal loan. A good score indicates good repayment record and hence most banks avoid giving loans if you have low credit score.

Sbi Personal Loan Eligibility Calculator
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