Personal Loan is one of the very common loans to get in India, it is simple and easy in the process. All the banks in India either its private sector or government-owned, Banks play a major role in the financial well being of every citizen of every country. If you have a salary account and looking for a personal loan for yourself from the same account then in this article we have come up with some information related to SBI personal loan interest rate for salary account and discuss how from this loan you can earn benefits. To know more follow the article below:
State Bank of India provides personal loans to those individuals who have a salary account for this bank and have any valid reason for seeking the personal loan from the bank. To receive loans from the bank you have to provide certain documents to the bank such as personal Identity proof, Employers salary details, PAN details and some mandatory papers as well.
SBI is known as one of the largest Government based banks in India, with their branches in all over India either its big City or small villages they have their branches in every corner of the country. When it comes to personal loans for Salary Account SBI has many different types of loans to offer at different interest rates.
Let us discuss below some of the features you can get from SBI personal loan interest rate for salary account and find out the requirements to seek a loan from them:
- The interest rate will be at 10.55% to 16.60% Per Annum.
- You can get a minimum of 25000 and a maximum of 15 Lakh of loans from SBI.
- The maximum tenure for the loan is up to 60 months and during this period you must clear all the EMI’s for the loan.
- SBI offers a processing fee of 1% of the loan amount with tax at the current rate.
- The minimum age required for the applicant should be of 21 years and maximum age should not be more than 58 years.
- Minimum income or salary of that individual should be Rs 5000 per month, and the credit score must be 750 and above.
As we have discussed above all the necessary details required for sbi personal loan interest rate for salary account. We hope we have given you enough information related to this topic, if you have any doubts related to this article then make sure you comment down below.
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