Use SBI Personal Loan Eligibility Calculator To Know Your Eligibility

Use SBI Personal Loan Eligibility Calculator To Know Your Eligibility

A personal loan has the potential to help you manage your urgent financial needs. Be it a wedding or travel or medical expenses, SBI personal loans can prove to be the best solution. If you are in need of finance for any of these purposes or any other, you can also apply for the loan.

The bank takes into account your salary because this loan is available only to salaried people and for pensioners. SBI Xpress Credit Personal Loan is the scheme which is for salaried people. In this article, we have mentioned all the necessary details related to the product.

SBI Xpress Credit Personal Loan

This scheme is an ideal loan for the people who want instant money. If you are salaried or a self-employed professional, you can get this loan between the rate of 11.90% to 14.90% (floating) p.a. Up to the loan amount of ₹15 lakhs. To get this loan, you must cover the below eligibility criteria:

  • The applicant must be an employee of central and state government employee, Quasi-Government, Central PSUs, Profit making State PSUs, Educational Institutions of National Repute and selected corporates
  • The minimum monthly income of the applicant should be ₹7,500/-
  • The EMI/NMI ratio should not exceed 50

SBI personal loans for Govt employees

This scheme is for Pensioners and Family Pensioners (including Defence Personnel) and the interest rate offered under this scheme is 12.45% p.a. (floating).  The borrowers can get the maximum loan amount of ₹14 lakhs. So, have a look at the eligibility criteria before applying for this schemes:

Eligibility criteria

  • The maximum age of the applicant should be 76 years
  • The person must be drawing a pension from the central or state governments and have his/her pension account with SBI
  • If the family pensioner is the spouse of a pensioner who is authorized to receive the pension then they too must not be over 76 years of age.

SBI personal loan calculator 2018

If a person wants to take a personal loan, he/she would be concerned about the monthly installments they will have to pay to the bank. To know the monthly installments of the personal loan, the required details are:

  1. Loan Amount
  2. Interest Rate
  3. Tenure

For e.g., if a borrower wants to take a personal loan with the below details:

  • Loan Amount- ₹15 lakhs
  • Tenure- 5 Years
  • Rate of Interest- 11.90% – 14.90% per annum

EMI-₹1,33,203-₹1,35,317

Total Interest- ₹98,436-₹1,23,800

Total Amount- ₹15,98,436-₹16,23,800

SBI personal loan status

You can check the status of your application on the official website of SBI. You can also contact the customer care department regarding the same. For this, you need to have your application number with you.

SBI personal loan contact number

You can contact the bank on 1800 425 3800 anytime for any loan-related query. The executives make sure all your doubts are clear before and after the approval.

SBI personal loan application form download

You can download the application form from the official website of the bank. You need to fill up all the mandatory details in the form before submitting it. You also need to provide passport size photos.

How can you apply for the loan?

You can either apply online or visit the nearest bank branch or can contact the personal loan department of the bank. The executive would look after the procedure and if you match the SBI personal loan eligibility criteria and have all the documents, you are most likely to get instant approval.  

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