SBI Personal Loan: 10%–15% Interest, Apply Online

Updated: October 30, 2026

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The SBI Personal Loan is an unsecured loan from State Bank of India, the country’s largest public sector bank. It is mainly for salaried people who get their salary in an SBI salary package account. You can use it for almost any personal need, such as a wedding, travel, medical bills or home repairs. No security or guarantor is needed for salaried borrowers.

This guide explains the SBI personal loan interest rate, fees, eligibility, documents, and how to apply for an SBI personal loan online through the YONO app, the SBI website or a branch. Every number below is taken from SBI’s official pages and is shown “as of October 2026”. Rates and charges can change, so always confirm them on the official SBI website before you apply. Any loan is subject to lender approval.

Quick Facts	Details (as of October 2026)
Lender	State Bank of India (SBI)
Regulated by	Reserve Bank of India (RBI) – SBI is a scheduled public sector bank
Loan type	Unsecured personal loan (term loan or overdraft)
Interest rate (as of Oct 2026)	10.00% – 15.00% p.a. (SBI Personal Loan scheme, published table w.e.f. 15.12.2025); Pension Loan from 11.45% p.a. (w.e.f. 15.10.2026)
Loan amount	₹1 lakh to ₹50 lakh (salaried); Pension Loan up to ₹20 lakh; Pre-Approved Personal Loan up to ₹15 lakh
Tenure	6 to 84 months (salaried); up to 72 months (Pension Loan)
Processing fee	Up to 1.50% of loan amount (min ₹1,000, max ₹15,000) + GST
Who can apply	Salaried Government, Defence and Corporate employees with an SBI salary package account; SBI pensioners for the Pension Loan
Apply on (official site/app)	YONO SBI app, onlineapply.sbi.bank.in, sbi.bank.in, or any SBI branch

Important Notice: This is an independent information guide. We are not a lender, bank or loan agent, and we are not affiliated with State Bank of India. We do not arrange loans and cannot guarantee approval – every loan is subject to SBI’s own checks and approval. All figures are indicative and taken from SBI’s official pages as of October 2026; always verify the latest details on the official SBI website or app. Never pay any person or agent money upfront to “get” a loan sanctioned.

1. What Is the SBI Personal Loan?

The SBI Personal Loan is an unsecured retail loan for salaried employees who hold a salary package account with State Bank of India. SBI describes it on its website as “Loans to Salaried Employees having salary account with SBI”. Many people still know this loan by its older name, SBI Xpress Credit.

“Unsecured” means you do not pledge any property, gold or deposit. SBI checks your salary, your job, your existing EMIs and your credit score to decide how much it can lend.

Key features listed on the official SBI page (as of October 2026):

Loan from ₹1 lakh up to ₹50 lakh.
Tenure from 6 months to 84 months (7 years).
No security and no guarantor needed.
Interest charged on a daily reducing balance.
Choice of a term loan or an overdraft with reducing drawing power.
Option of a second loan, and Digital Document Execution in many states.

2. SBI Personal Loan Variants

SBI’s personal loans page currently lists these retail personal loan options. Details below come only from SBI’s official pages.

Variant	Who it is for	Key points (as of Oct 2026)
SBI Personal Loan (salaried, formerly Xpress Credit)	Govt, Defence and Corporate employees with SBI salary package account	₹1 lakh – ₹50 lakh; 6–84 months; apply via YONO, website or branch
Digi Personal Loan (DigiPL / Real-Time Xpress Credit)	Same salaried customers, fully digital	Same amount and tenure; real-time sanction on YONO; e-sign with Aadhaar OTP in DDE-enabled states
Pre-Approved Personal Loan (PAPL)	Selected SBI customers chosen by the bank	Up to ₹15 lakh; check offer by SMS; credited to savings account after OTP
Pension Loan (Loans to Pensioners)	Central/State Govt, Defence and family pensioners whose pension is paid through SBI	Up to ₹20 lakh; up to 72 months; must be repaid by age 78

Older variant names such as Xpress Elite are not shown as separate products on SBI’s current personal loans page, so we have not listed their terms here. Ask the bank directly if you are interested in them.

3. Who Is Eligible for an SBI Personal Loan?

For the salaried SBI Personal Loan, the official eligibility rules (as of October 2026) are:

Criteria	Government / Defence	Corporate
Salary account	SBI Salary Package Account	SBI Salary Package Account
Minimum service	6 months	12 months
Minimum net monthly salary	₹20,000	₹25,000
Age	21 to 60 years (over 60 considered case by case)	21 to 60 years
EMI/NMI limit	Up to 65%	Up to 65%
Maximum loan	Lower of 30 times net monthly income (NMI) or ₹50 lakh

What is EMI/NMI? It is the share of your net monthly income (take-home salary) that goes to all your EMIs, including the new loan. SBI allows this to go up to 65%. For example, if your take-home pay is ₹50,000, total EMIs should stay within about ₹32,500.

You must also be an Indian national with a credit score acceptable under SBI’s internal policy. Government employees include Central, State, Railway, Police and PSU staff. Defence includes the Armed Forces, Indian Coast Guard and Central Armed Police.

Pension Loan: Your pension must be paid through SBI. Central and State Government pensioners must be below 76 years, and family pensioners not more than 76. The EMI/NMP (net monthly pension) ratio can go up to 50%, but only 33% for family pensioners. A guarantee from a spouse eligible for family pension or a suitable third party is needed.

4. Documents Required

SBI’s official list for the salaried personal loan (as of October 2026):

PAN card (mandatory if not already linked in SBI’s system).
Salary slips for the last 6 months.
Employment proof – employer ID card, service certificate, contract letter or canteen ID.
Latest ITR or Form 16, if applicable.
Salary account statement for the last 6 months.
KYC documents as needed. Existing customers with no change in details do not need fresh KYC.

For PAPL and DigiPL on YONO, much of this is already with the bank. You usually only enter PAN, date of birth and confirm by OTP.

5. SBI Personal Loan Interest Rates

SBI publishes its personal loan rates on its official interest rates page. Here are the figures as of October 2026:

Scheme	Benchmark	Spread	Effective rate
SBI Personal Loan scheme (w.e.f. 15.12.2025)	2-year MCLR @ 8.75%	1.25% – 6.25%	10.00% – 15.00% p.a.
Pension Loan – Treasury/PSU pensioners (w.e.f. 15.10.2026)	2-year MCLR @ 8.90%	From 2.55%	11.45% – 11.95% p.a.

SBI also states that the mean rate of interest on its personal loan scheme for Q1 FY 2026-27 was 11.54%. This shows that most borrowers got a rate well inside the band.

Your actual rate depends on your employer type, salary package, credit score and loan amount. For the Pension Loan, SBI adds 0.50% if the Treasury or PSU does not give written consent, and the rate is fixed for the full tenure with no reset.

Note: SBI raised its 2-year MCLR to 8.90% from 15 October 2026. The personal loan scheme table (last updated 28 September 2026) still shows the band based on 8.75%. Please check the live rate on the SBI website or YONO before you apply.

6. How SBI Rates Are Linked to MCLR and EBLR

Indian banks do not pick loan rates at random. They add a “spread” on top of a benchmark rate. SBI uses two main benchmarks:

MCLR (Marginal Cost of Funds based Lending Rate): SBI’s internal benchmark, set for different tenors. From 15 October 2026, SBI’s MCLR is 8.85% for 1 year, 8.90% for 2 years and 8.95% for 3 years. The personal loan scheme is priced as a spread over the 2-year MCLR.
EBLR (External Benchmark based Lending Rate): Linked to an outside rate, mainly the RBI repo rate. From 15 October 2026, SBI’s EBLR is 8.15% + CRP + BSP. It is used mostly for home loans and some other retail loans.

In simple words: when the benchmark goes up, new loans become costlier. When it comes down, new loans become cheaper. Your spread is decided by SBI based on your risk profile. Ask SBI whether your loan rate is fixed or floating and when it can reset.

7. Fees and Charges

Charge	Amount (as of Oct 2026)
Processing fee	Up to 1.50% of loan amount, min ₹1,000, max ₹15,000, plus GST
Processing fee waiver	100% for Defence and Platinum/Rhodium salary package customers; 50% for Government employees and customers with CIBIL score 800+
Prepayment / foreclosure	2% of the prepaid amount (waivers apply – see Section 12)
Penal charge – irregular up to 60 days	2.40% p.a. on the irregular portion
Penal charge – irregular beyond 60 days	5% p.a. on the irregular portion
Overdraft maintenance / folio charges	Nil
Security / guarantor	Not required (salaried loan)

One SBI summary page shows a 3% prepayment charge, while the main SBI Personal Loan product page shows 2%. Confirm the exact figure in your sanction letter and Key Fact Statement (KFS) before you sign.

8. How EMI and Interest Work (With Example)

An EMI (Equated Monthly Instalment) is the fixed amount you pay every month. Each EMI has two parts: interest and principal. In the early months, more of the EMI goes to interest. Later, more goes to principal.

The formula is: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of months.

Illustrative example (not an offer; based on SBI’s published rate band as of October 2026):

Loan amount	Rate (p.a.)	Tenure	Monthly EMI	Total interest	Total payable
₹5,00,000	10.00%	60 months	₹10,624	₹1,37,411	₹6,37,411
₹5,00,000	12.00%	60 months	₹11,122	₹1,67,333	₹6,67,333
₹5,00,000	15.00%	60 months	₹11,895	₹2,13,698	₹7,13,698
₹2,00,000	10.00%	36 months	₹6,453	₹32,324	₹2,32,324
₹10,00,000	10.00%	84 months	₹16,601	₹3,94,499	₹13,94,499

Processing fee is extra. On a ₹5 lakh loan, 1.50% is ₹7,500, plus 18% GST = ₹8,850 (before any waiver). Figures are rounded and illustrative; your actual EMI will be shown in SBI’s sanction letter and KFS.

See how a 5% difference in rate (10% vs 15%) adds over ₹76,000 in interest on a ₹5 lakh, 5-year loan. That is why your rate matters.

9. How to Apply Online on the YONO App

For salaried customers with an SBI salary account, SBI’s official steps for the Real-Time / Digi Personal Loan on YONO are:

Log in to the YONO SBI app, tap Loans and choose Personal Loan.
Enter your PAN, date of birth and name as on PAN, and verify your email ID.
Upload your photo and choose the loan amount, tenure and EMI date.
Accept the terms and conditions and confirm with OTP.
Sign the loan documents digitally using Aadhaar OTP (in DDE-enabled states), or visit the branch to sign.
After approval, the amount is credited to your SBI savings account.

Pre-Approved Personal Loan (PAPL): First check if you have an offer by sending an SMS “PAPL <space> last 4 digits of your SBI savings account number” to 567676. If eligible, log in to YONO, tap the PAPL banner, enter PAN and date of birth, choose amount and tenure, and confirm with OTP. SBI notes that PAPL is an offer, not a final sanction.

10. How to Apply on the SBI Website or at a Branch

Online on the SBI website:

Go to the official SBI loan application portal at onlineapply.sbi.bank.in and select Personal Loan.
Tell SBI about your existing relationship (salary account, savings account, pension, etc.) and enter your mobile number.
Fill in personal details, PAN, address and the loan amount you want.
Enter your gross and net monthly salary, other income, existing EMIs and employer details.
Check your tentative eligibility and loan offer, accept the declarations and submit.
Note your reference number. SBI will contact you to complete documents.

SBI says an “Approval in Principle” from this portal is valid for 45 days. Final sanction depends on KYC, income, credit checks and document verification.

At a branch: Visit your home branch (where your salary or pension account is). Carry PAN, salary slips, bank statement and ID proof. Fill in the application form, give your documents and sign. Pension loans are usually processed at the branch that pays your pension.

Callback: You can also give a missed call to 7208933142 or SMS “PERSONAL” to 7208933145 for a callback from SBI, as listed on its official page.

11. How to Check Your Application Status

Open the SBI online application portal (onlineapply.sbi.bank.in).
Go to the My Application Status / “Track Your Online Application Status” section.
Select Retail Loan.
Enter your reference number and registered mobile number, then click Track.

If you applied on YONO, you get email and SMS updates during the journey. For branch applications, ask your branch or call SBI’s official contact centre.

12. Repayment, Prepayment and Foreclosure

Repayment: EMIs are paid through standing instructions on your SBI salary package account. Keep enough balance before the EMI date. The loan must be closed by your retirement, the end of your contract, or age 60, whichever applies.

Overdraft option: If you choose the overdraft, the drawing power reduces every month by the principal part of the EMI. This means the overdraft is fully cleared by the end of the tenure. You can park extra money in it to save interest, subject to drawing power.

Prepayment and foreclosure: SBI charges 2% on the prepaid amount if you prepay fully or partly before the end of the term. The charge is waived in these cases (as per SBI’s page, October 2026):

Defence loans closed after 6 months from sanction.
Government/Corporate loans closed after 3 years.
Loans closed from the proceeds of a new loan under the same scheme after 6 months.
Platinum/Rhodium Corporate salary package customers after 6 months.

Late payment: Penal charges of 2.40% p.a. apply on the irregular portion for up to 60 days, and 5% p.a. beyond 60 days. Missed EMIs also hurt your credit score.

13. Pros and Cons

Pros	Cons
Published rate band of 10.00%–15.00% p.a., with a narrow spread	Mainly for people with an SBI salary package account
High loan limit – up to ₹50 lakh	Minimum net salary of ₹20,000 (Govt/Defence) or ₹25,000 (Corporate)
Processing fee capped at ₹15,000, with waivers for some customers	Prepayment charge of 2% before 3 years for most Govt/Corporate loans
No security or guarantor; overdraft option	Final rate depends on profile; band may change with MCLR
Fully digital journey on YONO for eligible customers	Self-employed people are not covered by this scheme

14. SBI vs HDFC Bank vs ICICI Bank vs Bajaj Finance

Here is how SBI compares with three other RBI-regulated lenders, using each lender’s own official page (checked 30 October 2026):

Lender	Interest rate (official page)	Processing fee	Max amount	Type
SBI	10.00% – 15.00% p.a.	Up to 1.50% (₹1,000–₹15,000) + GST	₹50 lakh	Public sector bank
HDFC Bank	Starting from 9.99% p.a.* (no upper rate shown)	Not shown on the page we checked	Up to ₹1 crore	Private sector bank
ICICI Bank	9.99% – 16.50% p.a. (Jul–Sep 2026 period)	Up to 2% + taxes	Not compared	Private sector bank
Bajaj Finance	10% – 30.5% p.a.	Up to 4.13% (incl. taxes)	₹55 lakh	RBI-registered NBFC

SBI’s upper rate of 15% is lower than the upper rates shown by ICICI Bank and Bajaj Finance, but SBI’s scheme is mostly for its salary account holders. Private banks and NBFCs may lend to a wider group of people, often at higher rates. Always compare the APR (total cost including fees) in each lender’s Key Fact Statement.

15. Tips to Get a Better Rate

Keep a good credit score. SBI gives a 50% processing fee waiver for a CIBIL score of 800 or more. A strong score also helps you get a lower spread.
Move your salary to SBI. The scheme is built for salary package holders. Platinum/Rhodium packages get extra fee and prepayment benefits.
Keep EMIs low. Close small loans or credit card dues before applying, so your EMI/NMI stays healthy.
Borrow only what you need. A smaller amount and shorter tenure mean less total interest.
Check PAPL first. If you have a pre-approved offer, the process is faster and paperless.
Read the KFS. Compare the APR, fees and prepayment rules before you accept.

16. How to Spot Loan Scams

Fraudsters often use the names of big banks like SBI to trick people. Watch for these warning signs:

Upfront payment requests. Never pay any “processing fee”, “file charge” or “insurance” to an agent or a personal UPI ID to get a loan. SBI deducts its fees from the loan through official channels.
Fake apps and links. Use only the official YONO SBI app from the Play Store or App Store, and websites ending in sbi.bank.in or onlinesbi.sbi.
Requests for OTP, PIN or password. SBI says it never asks for your user ID, password or PIN by phone, SMS or email.
Promises that sound too good. Anyone who promises sure approval without checks is not genuine.
Pressure to act fast. Scammers push you to decide in minutes. Take your time.

To check a lender, look it up on the RBI website (rbi.org.in) list of banks and NBFCs. To report illegal deposit or lending schemes, use the RBI Sachet portal at sachet.rbi.org.in. If you are a victim of online fraud, report it at cybercrime.gov.in or call the national cyber crime helpline 1930. You can also report unauthorised SBI transactions on SBI’s toll-free number 1800 1111 09.

17. Borrow Responsibly

A personal loan is a commitment for many years. Before you apply, ask yourself:

Can I pay this EMI every month even if my expenses rise?
Do I have an emergency fund for at least 3 months of EMIs?
Is this a need, or can it wait until I save?

SBI allows EMIs up to 65% of your take-home pay, but that does not mean you should borrow up to that limit. Many people feel more comfortable keeping all EMIs within a much lower share of income. Do not take a new loan to repay another loan unless you have a clear plan.

18. Customer Care and Grievance Redressal

Official SBI contact details (from sbi.bank.in, as of October 2026):

Toll-free contact centre: 1800 1234, 1800 2100, 1800 11 2211, 1800 425 3800, 1800 1111 01 (YONO).
Pensioners: 1800 11 0009.
Personal loan callback: missed call to 7208933142, or SMS “PERSONAL” to 7208933145.
Complaints portal: crh.sbi.bank.in.

Escalation: SBI’s grievance mechanism has four levels – Level 1 (branch), Level 2 (AGM, Customer Experience), Level 3 (DGM, Customer Experience), and Level 4 (Banking Ombudsman). If your complaint is not resolved, you can approach the RBI under the Reserve Bank Integrated Ombudsman Scheme through cms.rbi.org.in.

19. Frequently Asked Questions

What is the SBI personal loan interest rate?
As of October 2026, SBI’s official page shows 10.00% to 15.00% p.a. for its personal loan scheme (2-year MCLR of 8.75% plus a spread of 1.25%–6.25%, w.e.f. 15.12.2025). Your rate depends on your profile.

Is SBI Xpress Credit the same as the SBI Personal Loan?
Xpress Credit is the older name for SBI’s personal loan for salaried customers. SBI’s current website lists it as “SBI Personal Loan”, with the digital version called Digi Personal Loan or Real-Time Xpress Credit.

How much can I borrow?
Salaried customers can borrow ₹1 lakh to ₹50 lakh, limited to 30 times net monthly income and an EMI/NMI ratio of up to 65%, whichever is lower.

What is the maximum tenure?
6 to 84 months for salaried customers, and up to 72 months for the Pension Loan.

What is the minimum salary needed?
₹20,000 net monthly salary for Government and Defence employees, and ₹25,000 for Corporate employees.

Do I need an SBI salary account?
Yes. The salaried scheme requires an SBI Salary Package Account.

Can self-employed people get an SBI personal loan?
The salaried personal loan scheme is not for the self-employed. You can ask your SBI branch about other loan options, such as loans against deposits or gold.

What is the processing fee?
Up to 1.50% of the loan amount, with a minimum of ₹1,000 and maximum of ₹15,000, plus GST.

Who gets a processing fee waiver?
Defence and Platinum/Rhodium salary package customers get a 100% waiver. Government employees and customers with a CIBIL score of 800+ get a 50% waiver.

Is a guarantor or security needed?
No, not for the salaried personal loan. The Pension Loan needs a guarantee from a spouse eligible for family pension or a suitable third party.

What is EMI/NMI ratio?
It is the share of your take-home pay used for all EMIs. SBI allows up to 65% for its salaried personal loan.

How do I check if I have a pre-approved personal loan?
SMS “PAPL <space> last 4 digits of your SBI savings account number” to 567676, or look for the PAPL banner on YONO.

How much can I get under PAPL?
SBI’s YONO page says up to ₹15 lakh for selected customers. It is an offer, not a final sanction.

Can I apply for an SBI personal loan online?
Yes. Use the YONO SBI app or the official portal onlineapply.sbi.bank.in. Approval is subject to SBI’s checks.

How long is the online approval valid?
SBI says an “Approval in Principle” from its online portal is valid for 45 days.

How do I track my application?
On onlineapply.sbi.bank.in, go to “Track Your Online Application Status”, choose Retail Loan and enter your reference number and mobile number.

Can I close my loan early?
Yes. A 2% charge applies on the prepaid amount, but it is waived in some cases, such as Government/Corporate loans closed after 3 years.

What happens if I miss an EMI?
SBI charges 2.40% p.a. on the overdue portion for up to 60 days and 5% p.a. beyond 60 days. Your credit score may also drop.

What is the SBI Pension Loan rate?
From 15.10.2026, it is 11.45% p.a. (2-year MCLR 8.90% + 2.55%), with Treasury/PSU pensioner loans from 11.45% to 11.95%. The rate is fixed for the full tenure.

What is the age limit for the Pension Loan?
Government pensioners must be below 76 years, and the loan must be repaid by age 78.

Is SBI regulated by RBI?
Yes. State Bank of India is a public sector bank regulated and supervised by the Reserve Bank of India.

Will someone call me asking for a fee to approve my SBI loan?
SBI does not ask for upfront payments through agents or personal UPI IDs. If someone does, it is likely a scam – report it at cybercrime.gov.in or call 1930.

Does this website give SBI loans?
No. We are an independent guide and not connected to SBI. Apply only through SBI’s official app, website or branch.

20. Official Links

21. Final Words

The SBI Personal Loan is a strong choice for salaried people who already bank with SBI. It offers a published rate band of 10.00% to 15.00% p.a., a high limit of up to ₹50 lakh, a capped processing fee and a fully digital journey on YONO. Pensioners also have a dedicated Pension Loan with a fixed rate.

Before you apply, check the live rate on SBI’s website, read the Key Fact Statement, and make sure the EMI fits your budget. Apply only through SBI’s official app, website or branch, and never pay anyone upfront to get a loan. Approval is always subject to SBI’s own assessment.

Disclaimer: This article is for general information only. We are not affiliated with, endorsed by or acting for State Bank of India, HDFC Bank, ICICI Bank or Bajaj Finance. All interest rates, fees and terms are indicative, taken from official lender pages as of October 2026, and may change at any time. Please verify all details on the lender’s official website or at a branch before applying. Loan approval is subject to lender approval. All trademarks and brand names belong to their respective owners.