SBI Personal Loan [Interest Rate, Processing Fees, Tenure, Prepayment Charges 2023]

By | October 31, 2023


About State Bank of India: On July 1, 1995, State Bank of India (SBI) was established. State Bank of Saurashtra was merged with SBI on August 13, 2008 and the number of state banks was reduced from seven to six. The bank has undergone numerous mergers, rebrands, and other changes. SBI’s board of directors approved the acquisition of State Bank of Indore on June 19, 2009, and SBI held his 98.3 per cent stake in the bank. SBI is the 43rd largest bank in the world and ranked 221st in the 2020 Fortune Global 500 ranking of the world’s largest companies.

Headquarters: State Bank of India is headquartered at State Bank of Bhawan, Massachusetts. Road, Nariman Point, Mumbai, Maharashtra, India

Employees: State Bank of India employs up to 245,642 employees. This is understandably a huge number, as the bank has around 45 million customers and commands a whopping quarter of the banking sector’s market share.

Number of branches and ATMs: In India, State Bank of India has 22,219 branches and 62,617 ATMs. Overseas, State Bank of India has 229 branches in 31 countries.

Personal Loan Interest Rate: 9.60% per annum

Loan Amount: Minimum: Rs 25,000, Maximum: Rs 2 million

Maximum Term: 60 months (including 3 months grace period) 57 months remaining on repayment period

Processing Fee : Up to 1 50% of loan amount + GST ​​

Advance fee: 5% of outstanding principal + GST ​​

Minimum monthly salary: Rs 15,000

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