The State Bank of India, one of the biggest lenders in the country, offers a range of personal loan schemes to help you out in times of distress. The State Bank of India offers personal loans in four categories: SBI Pension Loan, SBI Xpress Credit Personal Loan, SBI Saral Personal Loan, and SBI Festive Season Loan. Compare SBI with other personal loan banks for interest rates.

SBI Personal Loan Schemes

Personal Loan SchemesInterest Rates (P.A.)
SBI XPRESS CREDIT (including PAXC-Pre-Approved Xpress Credit)Loan
(A) For Defense, Paramilitary, and Indian Coast Guard Salary Package Applicants11.00% – 12.50%
(B) For Central Govt., State Govt., Police Railway and Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status11.00%–13.50%
(C) For Other Applicants12.00% – 14.00%
SBI XPRESS Elite Scheme11.00% – 11.50%
XPRESS FLEXI Scheme11.25%–12.75%
XPRESS LITE Scheme12% – 14.50%
Other Unsecured Personal Loans

SBI Xpress Credit Loan 

The interest rates for SBI personal loans under the Xpress Credit personal loan scheme begin at 11.05% per year. For this strategy, the lender offers varying interest rates depending on the applicants’ occupational profiles. Below are the interest rates set by the bank for the SBI Xpress Credit Personal Loan scheme:

Occupation ProfileInterest Rates (P.A.)
For Defense/Paramilitary/Indian Coast Guard Salaried Applicants11.05%-12.55%
Candidates from the Central Government, State Governments, Police, Railways, and Central Public Sector Enterprises (CPSEs) Are Eligible for “RATNA” Status 11.05%-13.55%
Applicants of Other Corporates 

Also Read: How To Consolidate Debt With A Personal Loan

Eligibility for SBI Xpress Credit Personal Loan

  • Salaried individuals have salary accounts with the State Bank of India.
  • Employees working with Central/State/quasi-government, PSUs, reputed educational institutions, and selected corporations with or without a relationship with the bank.
  • The EMI/NMI ratio is less than 50%.
  • Additionally, SBI may also consider the credit score of its applicants while setting the eligibility for SBI Personal Loans, just like other lenders do while evaluating the personal loan eligibility of their applicants.

SBI XPRESS Elite Scheme

Types of ApplicantsInterest Rates (P.A.)
Salary Account Holders with SBI11.05%-11.55%
Applicants having Salary accounts with other Banks11.30%-11.80%

The eligibility criteria for the SBI XPRESS Elite Scheme  

  • Minimum age of 21 years.
  • 65 years old is the maximum age allowed when the debt matures.
  • Salaried or self-employed with a regular income.
  • Good credit score.


TypesInterest Rates (P.A.)
For Diamond Salary package Customers11.30%-14.30%
For Platinum Salary Package Customers11.30%-12.05%

Eligibility for the SBI XPRESS Flexi scheme

  • Applicants who fall under the Diamond and Platinum categories of Salary Package Accounts with SBI.
  • The minimum net monthly salary must be Rs. 50,000.
  • Employees with salary packages from the Central Government, State Governments, Police, Railways, Central Public Sector Enterprises (CPSEs), Defense, Paramilitary, and Indian Coast Guard are eligible to apply for this loan program.
  • Subject to 24 times NMI, the loan amount ranges from Rs. 1 lakh to Rs. 25 lakh, with a minimum and maximum of each. The EMI/NMI ratio is up to 65%.

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The SBI XPRESS LITE SCHEME is a personal loan scheme offered by the State Bank of India (SBI) to salary account holders. It offers a quick and easy way to get a personal loan, with minimal documentation required.

Features of the SBI XPRESS LITE Scheme

  • Competitive interest rates
  • Flexible loan amounts and repayment terms
  • Quick and easy application process
  • Minimal documentation required
  • No prepayment penalty

Eligibility for the SBI XPRESS LITE Scheme

  • Minimum age of 21 years
  • Maximum age of 66 years at the time of loan maturity
  • Salaried or self-employed with a regular income
  • Good credit score

Other Unsecured Personal Loans

ProductsRate of Interest (P.A.)
Xpress Credit Insta Top-up Loans12.15%
Pre-approved Personal Loans (PAPL) to Non-CSP Customers13.55%-14.05%

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Factors Affecting SBI Personal Loan Interest Rates

Personal loan amount

Based on the amount of personal loan applied for, the interest rate might be changed beyond the advertised rate for specific customers or categories of customers. 

Tenure of the personal loan

A longer loan term may have a lower or higher interest rate, depending on the bank’s judgment.

Repayment capacity

State Bank of India will examine a customer’s capacity for repayment. The bank may be able to provide a customer some leniency with regard to interest rates on personal loans, contingent on the volume of cash inflows and transactions. 


Eligibility for a loan also depends on income. Additionally, the bank may change the interest rate for a personal loan based on the income of the customer. 


the presence of fixed and movable financial assets plays a crucial role in improving the financial picture of one’s life. Based on the same, the State Bank of India might provide a preferential rate of interest for personal loans

Relationship with the bank

An existing customer of the State Bank of India is bound to get preference when applying for a personal loan, and the bank might consider providing a good rate of interest to the customer.

CIBIL Scores

Approval of a personal loan takes one’s credit history into account. Therefore, the CIBIL score may also help you receive a better bank interest rate.   

How to Calculate SBI Personal Loan Interest/EMI

Although you can use a formula to determine the interest payable on your loan, using an EMI calculator makes the process simpler. Enter your loan information, then select “Calculate.”

For Example

For a Salary of Rs. 25,000 Per Month

Mr. Ram has an 800 credit score and receives a salary of Rs. 25,000 each month. He takes up a Rs. 3 lakh SBI Xpress Credit Loan from SBI Bank, with a one-year repayment period. An eleven percent interest rate is imposed upon him. The following table lists the monthly EMIs that he will be required to pay:

Loan amountRs.3 lakh
Loan tenure1-year
Interest rate11% p.a.
MonthPrincipal Paid (A) (in Rs.)Interest Paid (B) (in Rs.)EMI (A+B) (in Rs.)Outstanding Loan Balance (in Rs.)

Benefits of SBI Personal Loan EMI Calculator

The following are just a few advantages that SBI Personal Loan offers its customers: 

  • The user of the SBI personal loan EMI calculator would get clarity on the repayment schedule.
  • The user can enhance the accuracy of the EMI calculated if they mention the current interest rates.
  •  While calculating the EMIs, the customer can see which offers they qualify for and take advantage of them. For instance, SBI provides pay account holders with a number of incentives.
  • The customer can access a multitude of options with the SBI Personal Loan Calculator. They can investigate different payback schedules and programs. For instance, some borrowers might favor paying out the debt in full rather than in monthly installments. The calculator has features designed to meet their needs.
  • With regard to the entered values, the calculator automatically calculates an amount. Compared to laborious, time-consuming manual computations, there is a greater likelihood that it will be accurate.
  • An intuitive tool that the user can utilize anywhere at their leisure is the SBI personal loan calculator.

Features of SBI Personal Loan Interest 

Here are some of the features of personal loans from SBI:


The loan can be used for any personal expense, such as education of children, medical emergencies, travel, home improvement, vacations, weddings, etc.  

Rate of Interest

The interest rate ranges from 10.55% to 16.60%. The  applicable terms and rates differ as per loan products and types of borrowers (salaried, self-employed, women, entrepreneurs, farmers, pensioners, NRIs, etc.).


The loan is available for salaried and self-employed individuals. The age limit for applicants is between 21 and 65 years (58 years for salaried individuals). A loan is available for pensioners as well. In such a case, the age limit is up to 75 years.

Top-up Loan

The bank provides personal loan top-ups. You can apply for this additional loan on top of the one you already have from the State Bank. The additional loan is taken on the running loan. For instance, you have a running loan of Rs. 2 lakh. But you need Rs. 1 lakh more. In this case, you can opt for a top-up of Rs. 1 lakh on the existing loan of Rs. 2 lakh. This facility can also be availed of during a balance transfer of your loan to the new bank.

If you have a good and regular repayment track record on your current personal loan, then SBI can provide you with a top-up facility. Top-ups are provided at a similar interest rate as on the existing loan. SBI top-up personal loans have an initial APR of 10.55%.

Special Schemes

State Bank of India offers customized schemes and rates for special categories of borrowers. Some of the special schemes are SBI pension loan, SBI Xpress credit personal loan, State Bank festive loans, SBI Saral loans, Jai Jawan pension loans, etc.

SBI Personal Loan Interest Rates and Charges

The rate of interest depends upon your income, credit profile, CIBIL score, loan amount, employment stability, employer company categorization, and other factors. 

SBI provides borrowers from several categories with tailored loans in addition to the conventional personal loan product.

The interest rate stated for various SBI personal loan products is as follows: 

Loan ProductRate of Interest Range
SBI Saral Loan17.65%
SBI Xpress Credit Loan11.50% to 13.50%
SBI Pension Loan11.45% to 11.95%
SBI Festival Loan12.50% to 16.60%
SBI Jai Jawan Pension Loan12.45%

List of Documents Needed for Personal Loans from SBI

  • Passport size photograph
  • Identity proof
  • Proof of office address for professionals and self-employed Lease agreements, phone bills, and shop/establishment certificates are examples of the paperwork. 
  • Latest salary slip and Form 16 (salaried persons)

End Note

Overall, the SBI Personal Loan for Salary Account is a good option for salaried borrowers who are looking for a personal loan with lower interest rates, faster loan processing, flexible repayment options, and no collateral requirements.

If you are considering taking a personal loan from SBI, be sure to compare the different loan products on offer and choose the one that best suits your needs. You should also carefully read the terms and conditions of the loan before applying.