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The State Bank of India (SBI) provides personal loans under multiple different schemes for salaried individuals and pensioners. With competitive interest rates and wide eligibility coverage, the SBI’s personal loans are one among the most sought after options in July 2025.
Note: Actual interest rate depends on the borrower’s credit profile, income level, employer category, and SBI relationship.
Note: Actual interest rate depends on the borrower’s credit profile, income level, employer category, and SBI relationship.
Note: Interest rates depend on loan amount, employer category, and credit score.
Note: Processing fees are generally lower for pension loans; check scheme terms.
Key aspects of SBI personal loan interest rates
SBI personal loan interest rates are linked to the 2-year Marginal Cost of Funds based Lending Rate (MCLR), which stands at 9.05% as of 14 March 2025. The final interest rate is calculated by adding a spread ranging from 1.25% to 6.25% over this base rate.
Consequently, the effective personal loan interest rate offered by SBI falls between 10.30% and 15.30%, depending on factors such as the borrower’s credit score, the type of employer, and the specific loan scheme chosen.
How to calculate SBI personal loan EMI
Do keep in mind that your SBI personal loan EMI depends on a host of factors such as loan amount, interest rate, repayment tenure. That is why a higher loan or rate means a higher EMI. You can use SBI’s official EMI calculator available on the SBI website to get quick estimates.
Key factors affecting SBI personal loan interest rates
- Credit score: A credit score of over 750 can help you secure lower interest rates.
- Employment type: Government and defence employees may receive better rates.
- Monthly income: Higher consistent income can improve your eligibility criteria.
- Employer category: Working in PSU or Category ‘A’ firms can help with better offers.
- Loan amount & tenure: Larger loans or longer terms can influence the final rate.
Disclaimer: The interest rates, fees, and terms mentioned are indicative and subject to change at the bank’s discretion. Always verify the latest details with SBI before applying for a loan.
