Let me tell you what is SBI personal loan interest rate? As of 2025, the State Bank of India (SBI) offers personal loans with interest rates ranging from 10.30% to 15.30% per annum, depending on the applicant's profile and the specific loan scheme.
What is Interest Rate of Personal Loan in SBI?
The base interest rate for personal loans begins at 10.30% per annum, subject to terms and conditions. The actual interest rate may vary based on factors such as the applicant's credit score, income, employment status, and the specific loan product chosen.
SBI provides personal loans up to Rs. 35 lakh, with flexible repayment options. The interest is calculated on a daily reducing balance method, ensuring that interest is charged only on the outstanding principal.
SBI charges a processing fee for personal loans, which is typically a percentage of the loan amount, subject to a minimum and maximum limit.
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A few months back during my visit to the SBI bank, I enquired about what is the SBI personal loan interest rate and learned that it starts from 11.45% p.a. This, however, may vary based on the type of applicant, loan tenure, loan amount, credit score of the applicant, income, and others. You can check out the interest rate next.
What is Current SBI Personal Loan Interest Rate?
Personal loans in SBI start from 11.45% onwards. It however varies based on several factors like:
Loan tenure
Loan amount
Type of applicant
Credit score of the applicant
Income and others
The interest rates for different applicants are.
Applicant Type |
The Effective Interest Rate With No Reset |
Defence/Central Armed Police/Indian Coast Guard |
11.45% - 12.95% |
Central Govt./State Govt./Police/Railway/Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status |
11.60% - 14.10% |
Applicants of Other Corporates |
12.60% - 14.60% |
PRE-APPROVED PERSONAL LOANS (PAPL) TO NON-CSP CUSTOMERS |
14.10% - 14.60% |
The interest rates update often, but as far as I know, these rates are the current ones, yet you better verify them again before availing a personal loan in SBI.
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Personal loan interest refers to the cost a borrower incurs for borrowing money from a financial institution, typically expressed as an annual percentage rate (APR). This interest is the additional amount paid on top of the principal loan amount and is the lender's profit for providing the loan. I learned all these details during my visit to the SBI bank’s branch and also learned about what is SBI personal loan interest rate. If you are not aware of it, learn its details here.
What is the Current Interest Rate of SBI Personal Loan?During my last visit to the bank, I learned that the SBI’s interest rate for personal loans starts at 11.05% per annum. Here is the list wise interest rate for different types of schemes:
Applicants of Defence/ Central Armed Police/ Indian Coast Guard2 year MCLR |
Spread over 2 years, MCLR |
Effective Interest Rate with No Reset |
8.65% |
2.40% - 3.90% |
11.05% - 12.55% |
2 year MCLR |
Spread over 2 years, MCLR |
Effective Interest Rate with No Reset |
8.65% |
2.40% - 4.90% |
11.05% - 13.55% |
2 year MCLR |
Spread over 2 years, MCLR |
Effective Interest Rate with No Reset |
8.65% |
3.40% - 5.40% |
12.05% - 14.05% |
Scheme |
2 year MCLR |
Spread over 2 year MCLR |
Effective Interest Rate with No Reset |
SBI Pension Loan |
8.65% |
2.55% |
11.20% |
Jai Jawan Pension Loan |
8.65% |
2.55% |
11.20% |
Pension Loan Scheme For Treasury & PSU Pensioners |
8.65% |
2.55%-3.05% |
11.20% - 11.70% |
Pre-Approved Pension Loans (PAPNL) |
8.65% |
2.55% |
11.20% |
Pre-approved Insta Pension Top-Up |
8.65% |
2.55% |
11.20% |
You can know more about what is current SBI personal loan interest rate from SBI’s official website:
https://sbi.co.in/web/interest-rates/interest-rates/loan-schemes-interest-rates/personal-loans-schemes
But if you are really interested in availing of a home loan, ask the bank officials about what is SBI personal loan interest rate to be more sure.
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What is SBI Personal Loan Interest Rate?
Raktim
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2023-10-24T21:52:19+00:00 2023-10-24T21:52:19+00:00Comment
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