Is there any Processing Fees in SBI Personal Loan?

When considering an SBI Personal Loan, one of the crucial aspects that often raises questions is the processing fee. I applied for the SBI personal loan a while back so I can tell you what is the SBI Personal Loan processing fee. At this moment, there is a festive offer that SBI has come up with. According to the offer, there is 0% processing fee till Jan 31, 2024. Let me share complete details for the processing details. 

Understanding Processing Fee for Personal Loan SBI:

In my personal experience, SBI does charge a processing fee for personal loans. This fee is a one-time charge levied by the bank for the processing of your loan application and may vary based on the loan amount and other factors. SBI typically calculates the processing fee as a percentage of the loan amount. This percentage can vary based on the applicant's profile, the loan amount applied for, and the tenure selected. It's crucial to be aware of these factors to estimate the processing fee accurately. Here is the structure for processing fee for personal loan in SBI that they shared with me:

Scheme Name	Processing Fees
Clean Overdraft	NIL
SBI Pension Loan	1% of the loan amount with a minimum of Rs 1000 +GST and Maximum of Rs 10000 +GST
Jai Jawan Pension Loan	NIL
Xpress Credit	1.50% of the loan amount with a minimum of Rs 1000 +GST and Maximum of Rs 15000 +GST

In certain cases, based on your relationship with the bank or other factors, there might be room for negotiation on processing fees. It's worth exploring this option and discussing it with the bank officials during the application process.

Understanding the intricacies of SBI bank Personal Loan processing fee from personal experiences empowers you to make informed decisions throughout the loan application process.

Get instant personal loan at low interest rates on NoBroker

Read More:

I need a personal loan What Documents Required for Personal Loan?

I took a personal loan in my name from SBI. I know that there are different kinds of personal loan options available in SBI catering to the different needs of people. Hence, I can tell you about the processing fee for SBI personal loan.

What is the Processing Fee for Personal Loan in SBI?

With SBI's Personal Loan, you can get fast approval and prompt disbursal with little documentation for any purpose—be it a wedding, vacation, unanticipated expense, or planned buy.

Types of SBI Personal Loan	Processing fee for SBI personal loan
Xpress Flexi	Up to 1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-), plus GST (Processing fee of personal loan in SBI waived up to 31.01.2023 as a special offer)
Xpress Credit	Loans to Salaried Employees having salary accounts with SBI 1.50% of the loan amount with a minimum of Rs 1000 +GST and Maximum of Rs 15000 +GST
Loan Against Mutual Fund Units	0.50% of the Loan Amount + applicable Service Tax (ST) (Min: Rs 1000 Max: Rs 10,000 +applicable ST)
Loan against Sovereign Gold Bond	0.50% of the Loan amount + applicable Service Tax or Rs 500 + applicable Tax, whichever is higher.
Loan Against Time Deposit	Zero processing charges
Loan against NSC/KVP	0.35% of loan amount with a minimum of Rs. 500/- and Maximum of Rs. 2,500/- plus applicable GST
Loan against Insurance Policies	0.35% of loan amount with a minimum of Rs. 500/- and Maximum of Rs. 2,500/- plus applicable GST
SBI QUICK Personal Loan	1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-) plus GST
SBI Xpress Elite	1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-), plus GST (Processing Fee waived upto 31.03.2022 as a special offer)
Real-Time Xpress Credit	Upto 0.75% of the loan amount plus GST

I am sure now you understand about the personal loan processing fee SBI. Get Interest Rate Starting From 12.99% With NoBroker Personal Loan Service. Read More: What is SBI Home Loan Processing Fee?