SBI personal loan interest rates in 2026 can vary based on the loan scheme, borrower profile, credit score, income, and other eligibility factors. If you are planning to take a personal loan from SBI, knowing the applicable interest rates can help you estimate your borrowing cost and compare your options. This blog covers SBI personal loan interest rates, available loan schemes, eligibility, charges, repayment tenure, and the application process as of May 2026, helping you make an informed borrowing decision.
What are the Eligibility Criteria for SBI Personal Loan?
To be eligible for a Personal Loan, applicants must meet the following criteria as per SBI:
- Employment: You need to be employed in either the government sector, the defence sector, PSU, railways, police, or the corporate sector.
- Salary Account: You need to have a Salary Package Account with SBI.
- Work Experience: A minimum of 6 months of work experience is required for government/defence employees, whereas 12 months are required for corporate employees.
- Age Criteria: The applicant must be between 21 and 60 years of age. Exceptions may apply to certain government and defence employees who are above 60 years.
- Salary: The minimum net monthly salary requirement is ₹20,000 for government and defence employees and ₹25,000 for corporate employees.
- Nationality: An individual applying needs to be an Indian citizen. NRIs (Non-Resident Indians), PIOs (Persons of Indian Origin), and OCIs (Overseas Citizens of India) are not eligible.
- Creditworthiness: A good credit score is needed as per SBI’s internal policies.
- Loan Amount: One can get a loan amounting to between ₹1 lakh and ₹50 lakh, depending on their earnings and repayment capacity of repaying.
Features of SBI Personal Loan
Here are some of the key features that make SBI Personal Loan a convenient borrowing option:
- Higher Loan Amount: Apply for a maximum of ₹50 Lakh as per your eligibility.
- Competitive Interest Rates: The interest rate starts at 10.00%*.
- Lower Processing Charges: A processing fee of 1.50% of the loan amount, with applicable GST, is charged.
- Less Documentation: Get your loan with minimal documentation.
- No Collateral/Security or Guarantor: You don't need any security or guarantor.
- Second Loan Facility: Qualified customers can enjoy the second loan facility.
- Digitalised Documentation: Go paperless by signing documents online.
- Flexible Mode of Repayment: You can pay through a Term Loan with Daily Reducing Balance or an Overdraft with Reducing Drawing Power.
How to Apply for an SBI Personal Loan?
You can enquire about or apply for an SBI Personal Loan through the bank’s Contact Centre using the following options:
- Call SBI:
Dial 1800 1234 for information or to apply through the Contact Centre.
- Give a missed call:
Call 7208933142 to request a callback from the Contact Centre.
- Send an SMS:
Send “PERSONAL” to 7208933145 to receive a callback from the Contact Centre.
- Visit their Official Website: https://onlineapply.sbi.bank.in/personal-banking/personal-loan fill in the required details, check your eligibility, and proceed with the available loan offer.
State Bank of India Personal Loan Interest Rate
As of February 2026, interest rates offered by SBI Personal Loan are between 10.00% and 15.00% p.a. based on loan terms and conditions. This interest rate is based on the 2-year MCLR rate of 8.75%, with a spread that varies from 1.25% to 6.25%. The Mean Rate of Interest (ROI) offered by SBI was 12.68% for Q4 FY25.
SBI Personal Loan EMI for Different Tenures and Rates
The table below shows how the estimated EMI and total repayment vary across different interest rates and loan tenures:
| Loan Amount | Interest Rate | Tenure
(in years) | Exact EMI | Exact Total Interest | Exact Total Repayment |
|---|
| ₹5 lakh | 10% p.a. | 5 years | ₹10,623.52 | ₹1,37,411.34 | ₹6,37,411.34 |
| ₹5 lakh | 11% p.a. | 5 years | ₹10,871.21 | ₹1,52,272.69 | ₹6,52,272.69 |
| ₹5 lakh | 12% p.a. | 5 years | ₹11,122.22 | ₹1,67,333.43 | ₹6,67,333.43 |
| ₹5 lakh | 13% p.a. | 5 years | ₹11,376.54 | ₹1,82,592.19 | ₹6,82,592.19 |
| ₹5 lakh | 14% p.a. | 5 years | ₹11,634.13 | ₹1,98,047.53 | ₹6,98,047.53 |
| ₹5 lakh | 15% p.a. | 5 years | ₹11,894.97 | ₹2,13,697.90 | ₹7,13,697.90 |
| ₹5 lakh | 10% p.a. | 10 years | ₹6,607.54 | ₹2,92,904.42 | ₹7,92,904.42 |
| ₹5 lakh | 11% p.a. | 10 years | ₹6,887.50 | ₹3,26,500.07 | ₹8,26,500.07 |
| ₹5 lakh | 12% p.a. | 10 years | ₹7,173.55 | ₹3,60,825.69 | ₹8,60,825.69 |
| ₹5 lakh | 13% p.a. | 10 years | ₹7,465.54 | ₹3,95,864.44 | ₹8,95,864.44 |
| ₹5 lakh | 14% p.a. | 10 years | ₹7,763.32 | ₹4,31,598.61 | ₹9,31,598.61 |
| ₹5 lakh | 15% p.a. | 10 years | ₹8,066.75 | ₹4,68,009.74 | ₹9,68,009.74 |
| ₹5 lakh | 10% p.a. | 15 years | ₹5,373.03 | ₹4,67,144.61 | ₹9,67,144.61 |
| ₹5 lakh | 11% p.a. | 15 years | ₹5,682.98 | ₹5,22,937.24 | ₹10,22,937.24 |
| ₹5 lakh | 12% p.a. | 15 years | ₹6,000.84 | ₹5,80,151.26 | ₹10,80,151.26 |
| ₹5 lakh | 13% p.a. | 15 years | ₹6,326.21 | ₹6,38,717.95 | ₹11,38,717.95 |
| ₹5 lakh | 14% p.a. | 15 years | ₹6,658.71 | ₹6,98,567.25 | ₹11,98,567.25 |
| ₹5 lakh | 15% p.a. | 15 years | ₹6,997.94 | ₹7,59,628.41 | ₹12,59,628.41 |
Note: These figures are approximate and for illustration purposes only. Actual EMI and repayment amounts may vary based on the applicable interest rate and loan terms.
How Is the SBI Personal Loan Interest Rate Calculated?
We can determine the SBI Personal Loan interest percentage by adding the applicable spread to the 2-year MCLR.
For example, with a 2-year MCLR of 8.75% and a spread of 1.25%, the effective interest rate would be 10.00%. The applicable spread may vary based on the borrower’s eligibility and loan terms.
Does Credit Score Affect SBI Personal Loan Interest Rates?
Yes, your credit score and credit history can form part of SBI's assessment of your creditworthiness. A strong credit profile may support your chances of getting favourable loan terms. However, SBI does not publicly specify a fixed interest rate for each credit-score range. Therefore, the final interest rate cannot be determined based on your credit score alone.
What Are the Documents Needed for SBI Personal Loan?
To apply for an SBI Personal Loan, applicants may need to provide the following documents, depending on their employment profile and existing KYC status:
- Permanent Account Number (PAN)
- 6 months’ Salary Slips
- Documentary evidence for ascertaining the employment details, i.e., Identity Card issued by Employer/ Service Certificate/ Contract Letter/ Canteen ID.
- Latest ITR/ Form 16, if applicable.
- 6 months’ Salary Account Statement (i.e. account statement(s) where last 6 months’ salary is credited)
- KYC Documents:
- Existing to Bank (ETB) customers with full KYC status: No KYC documents need to be provided as long as the address/other information remains unchanged.
- ETB customers having a change in address or other information: Only those documents that would help in updating the KYC data.
- ETB customers for whom PAN is not seeded in CBS: The PAN of the customer needs to be collected.
What are the Penal Charges for SBI Personal Loan?
As per SBI, if you miss an instalment or the loan account becomes irregular, penal charges may apply based on the duration of the irregularity:
- Irregularity up to 60 days: 2.40% per annum on the irregular portion for the period of irregularity.
- Continuous irregularity beyond 60 days: 5% per annum on the irregular portion for the period of irregularity.
What is the Loan Repayment Tenure for SBI Personal Loan?
SBI offers a flexible repayment period, allowing borrowers to choose a tenure based on their repayment capacity and applicable loan conditions:
- Minimum tenure: 6 months.
- Maximum tenure: 84 months.
- The loan must be closed on or before the applicable retirement date, the end of the contract, or the borrower turning 60, as applicable.
SBI Personal Loan Prepayment Charges
In case you opt to make an early repayment of the loan, then there will be prepayment charges based on your customer type and the period at which the loan is repaid:
- General prepayment charge: 2% of the amount that is prepaid will apply in case of partial or full prepayment of the loan prior to the expiry of the stipulated loan period.
- Defence sector employees: The prepayment charge will be waived in case the loan is repaid after 6 months of approval of the loan.
- Government/Corporate sector employees: The prepayment charge will be waived in case the loan is repaid after 3 years of loan approval or using the proceeds of the loan obtained from the same loan program after 6 months of loan approval.
- Platinum & Rhodium Corporate Salary Package: The prepayment charge will be waived if the loan is repaid after 6 months of loan approval.
SBI Personal Loan Overdraft Facility
The overdraft facility offered by SBI's Personal Loans allows the borrower more flexibility while managing his/her loan and surplus money. The Drawing Power (DP) is decreased each month by the principal amount of the EMI, thus helping the borrower repay the overdraft during the period of the loan. The borrower is allowed to make additional deposits apart from the EMIs to the loan account and transfer any surplus balance to the savings account linked to the loan, provided there is sufficient DP available.
SBI Personal Loan Schemes and Other Personal Loan Products
Here are the key SBI personal loan schemes and products, along with their features, eligibility criteria, interest rates, and application process for different customer requirements:
1. Pre-Approved Personal Loan in 4 clicks
SBI Pre-Approved Personal Loan offers eligible customers a convenient way to access funds instantly through YONO or Internet Banking, with quick processing, minimal paperwork, and no branch visit. Currently, this loan is available to select customers who meet SBI’s predefined eligibility criteria. The applicable interest rate and loan tenure are determined based on the applicant’s credit score, credit history, and overall credit report, along with SBI’s applicable eligibility criteria.
Features:
- The loan comes with low processing fees for eligible customers.
- Processing and disbursal are completed instantly in four clicks.
- The entire loan process requires no physical documentation.
- Loan services remain available 24×7 through YONO and Internet Banking.
- The application process does not require a branch visit.
Eligibility:
The eligibility for the service can be determined by sending “PAPL space last four digits of SBI Savings Bank Account Number” through SMS to 567676. The Pre-Approved Personal Loan (PAPL) scheme is offered exclusively to chosen clients, according to the eligibility criteria of SBI.
How to Avail an SBI Pre-Approved Personal Loan?
The SBI Pre-Approved Personal Loan can be availed through a simple digital process:
- Log in: Access the YONO app or SBI Internet Banking.
- Select PAPL: Click on the PAPL Banner.
- Verify details: Enter your PAN details and date of birth for validation.
- Choose loan details: Select your preferred loan tenure and amount.
- Complete verification: Enter the OTP to complete the process, after which the approved amount is credited.
2. Real-Time Xpress Credit
SBI RTXC offers a fully digital process for availing a loan to those who have a Salary Package Account with SBI. A loan amounting to up to ₹50 lakh can be availed through YONO on a 24×7 basis. For the Digital Document Execution mode, sanctions, documentation, and disbursements are done in a completely digital manner. For the Non-Digital Document Execution mode, sanctions are made in YONO, and then documentation and disbursements are done at the selected branch.
Features:
- Customers can complete e-signing using Aadhaar OTP authentication.
- Step-by-step loan updates are provided through email and SMS.
- Loan documentation can be completed digitally in DDE-enabled locations.
- Loan applications and agreements can be processed digitally.
- Eligible loans can be disbursed instantly after the required formalities.
- Digital Document Execution is available across 21 states and 5 Union Territories.
Eligibility:
This scheme is available to salaried individuals having an SBI Salary Package Account with a net monthly income of at least ₹20,000 for Government/Defence sector employees and ₹25,000 for corporate employees. The loan amount can be as low as ₹1 lakh and as high as ₹50 lakh.
How to Avail SBI Real-Time Xpress Credit?
SBI Real-Time Xpress Credit (RTXC) can be availed through a convenient digital process on YONO. The steps may vary depending on whether the customer is eligible for DDE or Non-DDE processing:
- Log in: Access the YONO app using your SBI credentials.
- Select RTXC: Choose the Real-Time Xpress Credit option.
- Enter details: Provide the required loan and personal details for verification.
- Select loan details: Choose the desired loan amount and tenure, subject to eligibility.
- Complete documentation: Complete digital documentation under the DDE mode, or visit the selected branch for documentation under the Non-DDE mode.
- Receive disbursal: After sanction and completion of the required formalities, the loan amount is disbursed instantly.
3. SBI Pension Loans: Loans to Pensioners
An SBI Pension Loan can make your retirement life more comfortable by providing financial assistance in case of any personal requirements. In case you wish to get some money for funding your child’s wedding or buying your dream house, going on a much-awaited vacation, or taking care of your health, an SBI Pension Loan can easily help you get the money required.
Pension Loan Schemes:
The SBI pension loan rate of interest and applicable spreads for different loan schemes are given below:
| SBI Pension Loan Scheme | Spread over 2-Year MCLR | Effective Interest Rate |
|---|
| SBI Pension Loan | 2.55% | 11.30% p.a. |
| Jai Jawan Pension Loan | 2.55% | 11.30% p.a. |
| Pension Loan to Treasury/PSU Pensioners* | 2.55%-3.05% | 11.30%-11.80% p.a. |
| Pre-Approved Pension Loans (PAPNL) | 2.55% | 11.30% p.a. |
Features:
- Customers can avail loans of up to ₹20 lakh.
- The loan comes with low processing fees.
- All charges are disclosed upfront, so there are no hidden costs.
- Applications are processed with quick loan processing.
- EMI payments can be made conveniently through Standing Instructions (SI).
- The loan requires minimal documentation.
- Customers can apply for the loan at any SBI branch.
Eligibility:
The eligibility for an SBI Pension Loan varies based on the pensioner category. The key requirements for government, defence, and family pensioners are outlined below.:
| Pensioner Category | Eligibility Criteria |
|---|
| Central & State Government Pensioners | Must be below 76 years, with the Pension Payment Order maintained with SBI. The pensioner must provide the required undertaking, Treasury consent, and applicable guarantee. |
| Defence Pensioners | Includes eligible Armed Forces, Paramilitary, Coast Guard, Rashtriya Rifles, and Assam Rifles pensioners. The PPO must be maintained with SBI, with no minimum age requirement and a maximum age of 76 years. |
| Family Pensioners | Must be an authorised family member receiving a pension after the pensioner's death and should be below 76 years of age. |
How to avail an SBI Pension Loan?
SBI Pension Loan can be applied for or enquired about through the bank's Contact Centre using the following options:
- Call SBI: Dial 1800-11-2211 to get more information or apply through the Contact Centre.
- Give a missed call: Call 7208933142 to request a callback from the Contact Centre.
- Send an SMS: Send “PERSONAL” to 7208933145 to receive a callback from the Contact Centre.
How Can NoBroker InstaCash Help You?
If you do not meet SBI’s employment or minimum salary requirements, NoBroker InstaCash provides an alternative with flexible eligibility and fully digital processing.
Features
Flexible loan amounts, longer repayment options, and digital processing provide an alternative to SBI’s Salary Package Account-based requirements.
- Loan amount: ₹5,000–₹10,00,000
- Tenure: 3 months–5 years
- Application: Fully digital, with no branch visit
- Disbursal: Funds disbursed shortly after approval, subject to approval and verification
Eligibility
The facility is available to salaried and self-employed applicants who meet the specified credit score and age requirements.
- Employment: Salaried or self-employed
- Credit score: CIBIL above 700 or Experian above 750
- Age: 21–65 years
Rates & Fees
NoBroker InstaCash offers flexible borrowing options and convenient digital processing. Here are the key rates and fees:
- Interest rate (APR): 12.99%–29.99% p.a.
- Processing fee: 2%–4% of the loan amount + GST
- Rate comparison: Rates typically run higher than SBI’s 10.00%–15.00% p.a. range.
How to Apply?
The entire process can be completed digitally, from registration and eligibility checks to e-signing and disbursal.
- Download the app or visit the NoBroker InstaCash page.
- Register with basic KYC and employment details.
- Check your eligibility and view your loan offer.
- Complete e-signing digitally.
- Receive the disbursed amount.
Disclaimer: NoBroker facilitates NB InstaCash - the loan itself is provided by our lending partners, not NoBroker directly. Read our privacy policy →
Frequently Asked Questions
Q. What can an SBI Personal Loan be used for? Ans: An SBI Personal Loan can be used to meet various personal financial requirements, such as medical expenses, education, travel, marriage-related expenses, or other personal needs, subject to the bank’s applicable terms and conditions.
Q. Can an NRI apply for an SBI Personal Loan? Ans: No. SBI Personal Loan eligibility requires the applicant to be an Indian citizen. NRIs, Persons of Indian Origin (PIOs), and Overseas Citizens of India (OCIs) are not eligible for this personal loan.
Q. Does SBI offer Personal Loans through YONO? Ans: Yes. Eligible customers can access certain SBI Personal Loan products through YONO. Depending on the loan product and eligibility, the application, documentation, and disbursal process may be completed digitally.
Q. Is an SBI Personal Loan available without a branch visit? Ans: Yes. Eligible customers can apply for certain digital personal loan products without visiting an SBI branch. Pre-approved and digital loan options may be available through YONO or Internet Banking, subject to SBI’s eligibility requirements.
Q. Can I get an SBI Personal Loan if I am a new-to-credit customer? Ans: Yes. New-to-credit customers may also be considered for an SBI Personal Loan, subject to the bank’s applicable eligibility requirements and credit assessment criteria.
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With a passion for both property and prose, Nivriti crafts compelling content that informs and empowers real estate audiences. She translates complex market trends and investment strategies into clear, engaging articles, blogs, and website copy. Her background in real estate fuels insightful content that resonates with buyers, sellers, and industry professionals alike. When she isn't diving into the latest market data, you might find her exploring hidden gems in the local housing market or curled up with a good book.
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