State Bank of India Personal Loan

State Bank of India provides personal loan for marriage/medical treatment/ education/ foreign travel or any other general purpose except for any speculative activities.


Types of Personal loan with State Bank of India

State Bank of India offers two kinds of personal loans:

  • Xpress Credit Personal Loan
  • SBI Pension Loan

Xpress Credit Personal Loan

State Bank of India prefers giving Xpress Credit Personal Loan to those who have a salary account with SBI. Furthermore, SBI gives higher priority to those who are employed by:

  • Central and State Government
  • Central PSU(Public Sector Undertaking)
  • Quasi-Government
  • Educational Institutions of National Repute
  • Private company employees.
  • Self Employed.

Xpress Credit Personal Loan interest rates vary from 11.90% to 15.30% depending upon your personal financial profiles. Some important factors which decide the interest charged are: CIBIL Score / Existing EMI’s / Net Salary / City of Residence and others.

A customer can take Xpress Credit Personal loan between – Rs 24,000 and 15 Lakhs. The exact amount of loan eligibility depends upon the individual financial profile of the customer.

If you opt for a Xpress Credit Loan – you can opt for a loan tenure up-to 5 years. It’s worth noting that although SBI personal loans charge minimum possible interest(because interest is calculated on a daily reducing balance),  longer term loans would mean higher interest. Also, if you decide to repay the loan earlier – you might have to pay a prepayment charge( up to 3% of prepayment amount).

SBI Pension Personal Loan

Most pension recipients in India have their pension account with State Bank of India and hence SBI introduced a Pension Personal Loan especially for customers who hold their pension account with SBI.

To apply for SBI Pension personal loan – the applicant’s age should be less than 76 years of age, he/she should have retired from Central or State Government or Defence based job and they should have their pension account with SBI.

The maximum loan amount varies based on nature of the job and current age of the applicant.  The minimum possible loan amount is Rs 25,000 and maximum allowed loan is Rs 14.0 Lakhs(if applicant’s age is less than or equal to 72 years).

SBI charges a very low processing fees of 0.25% for Pension Personal loan from Central and State Government employees. The processing fee is completely waived off, if the applicant retired from defense services.

The loan repayment tenure is decided based on applicant’s financial need. However, the maximum loan tenure is lesser of 5 years or the number of years until the applicant reaches the age of 78 years. Hence, if someone takes the personal loan at an age of 74 then maximum loan tenure allowed in their case would be 4 years. 


With a history of over 200 years, SBI is the most trusted bank in India and the biggest bank in India in terms of asset, branches, deposits etc. Being true to its DNA, personal loan products designed by SBI are also designed with interest of common man in the heart.

We recommend that you give SBI Personal loan a chance – if you can spend some time at the bank branch getting the required documentation completed.