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SBI Personal Loan Eligibility Calculator

SBI Personal Loan Eligibility 2022

Last Updated 17th Jan 2022

Eligibility CriteriaSalaried Self Employed Professionals
Profession that are eligible for SBI Personal LoanSalaried people working in government, private or MNCs companies Professionals like Doctors, CA, CS, Architects
Applicant Age21 - 58 years21 - 65 years
  • High credit score and better financial stability lead to high personal loan eligibility from SBI.
  • SBI requires you to meet certain eligibility factors related to age, number of years of work experience and type of residence you live in to be able to get a personal loan.
  • SBI calculates the amount of personal loan you are eligible for using a formula that includes your net take home salary and your existing loans or EMIs you have to pay currently.
Personal Loan Eligibility Calculator
SBI Personal Loan Eligibility

SBI offers various personal loan schemes and offers, at affordable rates to eligible customers. SBI Personal loan eligibility is based on factors like age, salary, occupation and cibil score. You can avail personal loan from SBI, even if you are salaried or self-employed. The eligibility criteria, however may be slight different for self employed. A detail information on these factors is mentioned in the further sections.

SBI Personal Loan Eligibility based on Age
  • Age: The minimum age requirement for availing a SBI personal loan is 21 years and the maximum age is 58 years.If you are aged below 21 years, you are considered as ineligble borrower as you might not fulfil the income criteria for the loan.
SBI Personal Loan Eligibility based on Salary
  • Net Income : Your eligibility is determined by your net monthly income to understand so that your loan EMI’s are not affecting your living standards. SBI asks for a minimum net income of ₹ 24,000 per month to avail a personal loan.
  • FOIR : FOIR (Fixed Obligation to Income Ratio) is an important parameter that is used to determine your SBI personal loan eligibility. SBI takes all your fixed obligations (like rent or current EMIs) into account while estimating your eligibility. Minimum FOIR required to be eligible for personal loan from SBI is 0.45. Use SBI personal loan eligibility calculator to estimate your eligibility and apply online for the eligible loan amount hassle-free.

Illustration- Mr. A who is 25 years old has a net income of ₹ 24,000. He wants to take a personal loan of ₹ 1 Lakh for 72 months. SBI allows a maximum FOIR of 0.45.

Based on the information provided by the applicant, SBI will calculate his eligibility using the eligibility calculator. With a salary of ₹ 24,000, the maximum amount he is eligible for is ₹ 5.89 Lakh. The interest he has to pay for this amount for 72 months is 9.60%.

SBI Personal Loan Eligibility based on CIBIL Score

  • CIBIL Score: When checking eligibility for a personal loan, SBI will check the your complete Credit report, including all past running loans and your payment track record on loans and credit cards. Higher credit score increases your the chances that your loan application from SBI will get approved. However, a low CIBIL score decreases your eligibility to get a personal loan. SBI requires a minimum credit score of 650 to be eligible for a personal loan.

SBI Personal Loan Eligibility based on Occupation

There are other factors related to you occupation which are responsible for the approval of the loan by SBI, as listed below:

  • Job stability and profession - Job stability is important to improve your eligibility to get a personal loan from SBI. Your total work experience and current work experience are assessed to evaluate your job stability and profession. SBI looks for a minimum total experience of 24 months and also looks for applicants who have been employed in the current job for a minimum of 12 months.
  • Residence place and stability – Banks are very particular about your place of residence. SBI has a pre-decided list of areas where the bank will lend the loan. The bank also has a negative list of area of locations in which it will not lend depending on the past credit behavior of borrowers from such localities. SBI also gauges your residential stability by checking on the number of years since when you have been staying in your current residence. If you are staying in your own residence, it improves your chance of getting a loan from SBI. Minimum residence stability to be considered by the bank is 12 months.
  • Industry Type – SBI has a negative list of professions and type of industry, defined as customer or industry segments to which they will not give the loan. So, your chances of getting a loan approval also depends on your profession and industry you are employed in.
  • Salary Mode – SBI considers salary transferred to the bank account as a secure and stable income with adequate income proofs. If you are earning well but getting salary through cash or cheque,the bank will not give you the loan because the bank needs concrete evidence of your salary to support your loan amount. So, salary transfer mode of payment is preferred by SBI if you apply for a personal loan.

How can I Check my SBI Personal Loan Eligibility?

To check SBI personal loan eligibility you need to follow these steps:

  • Login to SBI website
  • Go to SBI personal loan
  • Now, check the eligibility criteria using the Personal Loan Eligibility Calculator. For this fill the required details such as Name, loan requirements, salary, age, etc.

In Addition to this, you can also contact the bank at their customer care number, 180-011-2211/ 1800-425-3800.

SBI Personal Loan Eligibility for Self Employed

SBI personal loan eligibility criteria for self employed is as follows:-

  • You must be an Indian citizen with a professional degree holder like CA, CS, Doctor, Architect etc with degree registration.
  • You must be minimum of 21 years at the time of loan application.
  • You must have filed ITR for atleast 24 months to get a personal loan from SBI.
  • You must have a gross annual reciept of more than ₹ 5,00,000.
  • SBI checks your credit history to estimate your creditworthiness and your credit score must be above 650 to get a SBI personal loan.

SBI Personal Loan Schemes Eligibility

SBI Xpress Credit Personal Loan


  • Salaried individuals earning minimum Rs 15,000 are eligible for Xpress Credit Loan.
SBI Pension Loan


  • Pensioners should not be more than 76 years of age at the time of loan processing and they should receive their pensions through cheques directly from government treasuries.

Check Personal Loan Eligibility of Different Banks


What are the eligibility criteria to avail SBI personal loan?

The minimum age of the applicant required to get a personal loan from SBI is 21 year as the chances of meeting income eligibility criteria are very less below this age. The maximum age for salaried employees can go up to 58 years.

Is age an eligibility criteria to apply for a SBI personal loan?

Yes, age is an eligibility criteria to apply for a SBI personal loan. You should be of minimum 21 years to avail a loan from SBI.

Am I eligible for SBI personal loan if my CIBIL score is less than 300?

It is unlikely that you will be able to avail SBI personal loan if your CIBIL score is less than 300. If you have a credit score less than 300 then it is considered bad and to avail a personal loan from SBI, you must have a credit score above 650.

How can I improve my eligibility for SBI personal loan?

To improve your SBI personal loan eligibility you can add a co-applicant, maintain a high credit score, pay EMI’s and credit card bills on time and reduce your existing debts. These steps will help improve SBI personal loan eligibility.

What should be my income to secure a personal loan from SBI?

The minimum income for a salaried employee should be at least ₹ 24,000 per month to secure a personal loan from SBI.However, the income criteria of SBI may vary for metro cities, tier-1 or tier 2 locations.

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

To get a personal loan from SBI, you must be an earning individual working in a central/state government, private company or MNC.You must have a minimum work experience of 12 months for SBI personal loan.

What is the maximum loan amount an applicant can get?

The maximum loan amount an applicant can get under a personal loan from SBI is up to ₹ 15 Lakh.However, the eligibility criteria for every borrower is different as it is based on various factors like age, employment etc.

Will CIBIL Score affect my personal loan from SBI?

Yes, CIBIL Score does have an impact on your personal loan. A good score indicates a good repayment record and hence most banks avoid giving loans if you have a low credit score. The minimum CIBIL score for personal loan is 650 and above.

Does adding a co-applicant increase personal loan eligibility?

Yes, adding a co-applicant increases your eligibility for a SBI personal loan as it increases your repayment capacity. While availing loan from SBI ensure that you add a co-borrower who has good income flow, limited fixed obligations and a strong credit score.

Do I need to have a guarantor to apply for Personal Loan from SBI?

Personal loan is an unsecured loan, so SBI assure that the amount gets repaid on time. However, if your credit score is good and there is no default in your past repayment history, then you do not need a guarantor to get a loan from SBI .

Where can I get the company list which is eligible for SBI personal loan?

SBI does not prefer lending personal loans to companies identified under customer or industry segments. For details you can contact SBI or can use the personal loan eligibility calculator.

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SBI Personal Loan News - Jan 2022
  • 2021-11-26 : SBI Waivers Processing Fee on Personal Loans
    State Bank of India has waivered the processing fees on personal loans. The bank is charging an interest rate of 9.60%.
  • 2021-08-25 : FM Niramala Sitharaman Launches EASE 4.0
    Finance Minister Nirmala Sitharaman launches Ease 4.0 (Enhanced Access and Service Excellence )to undertake the public sector banks (PSBs). It is a common reform agenda for PSBs aimed at institutionalising clean and smart banking.
  • 2021-08-17 : State Bank of India Waives Processing Fees on Personal Loans
    The largest public sector lender in the country has announced the waiver of processing fees on personal loans through the YONO app. The SBI personal loan rate stands at 9.60%.
  • 2021-07-07 : SBI offers to revamp loans for personal segment borrowers
    State Bank of India (SBI) has announced offering restructuring of loans to its eligible personal segment borrowers who availed personal loans, home loans, loans against property, Xpress credit, education loans and auto loans before April 1, 2021.
  • 2021-06-11 : YONO to offer fast-tracked two-wheeler loans and express credit
    The State Bank of India YONO app is going to offer fast track two-wheeler loans and express credit, a high-value personal loan. SBI is planning to expand the YONO product basket. YONO will be offering two-wheeler loans along with personal loans of small ticket size, between Rs 5-10 lakhs.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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