State Bank of India (SBI) offers personal loans that can cover almost any financial need from emergency expenses to travel or home repairs. SBI provide up to 20 lakh personal loan at 10.30% to 15.30% p.a. Loan application process is straightforward if you know what to expect.
Know the Types of SBI Personal Loans
SBI offers different products tailored to customer needs:
- Xpress Credit Personal Loan – For salaried individuals who maintain their salary account with SBI.
- Xpress Elite Personal Loan – Designed for high-income salaried customers earning at least ₹1 lakh per month.
- Real Time Xpress Credit – SBI salary account holders can get instant loans using Real Time Xpress Credit with Aadhaar OTP e-signatures.
- SBI Pre-Approved Personal Loan (PAPL) – Through the YONO app, specific SBI customers can get Pre-Approved Personal Loans (PAPL) with immediate approval and quick funds.
Prepare Your Documents
Keep these ready:
- Filled application form
- Passport-size photographs
- PAN, Aadhaar, or other ID proof
- Address proof (utility bill, passport, etc.)
- Salary slips or bank statements for the last 3–6 months
- Employer certificate (if required)
Also Read: MoneyView Personal Loan
Check Your Eligibility
Before applying, check these basics:
- Age – Generally 21 to 58 years.
- Job Stability – At least 6–12 months with your current employer (varies by category).
- Income – Minimum monthly income usually starts from ₹15,000–₹25,000, depending on the scheme.
- Credit Score – A score above 700–750 increases your chances of approval.
How to Submit Your SBI Personal Loan Application
1. Apply Online via SBI’s Website
- Visit SBI’s Personal Loan page and pick the loan type you want (like Xpress Credit or Xpress Elite).
- Fill in the online form — basic personal details, job information, income, loan amount, and tenure.
- Upload your documents — ID proof, address proof, and salary/bank statements.
- Complete e-KYC or e-Sign with your Aadhaar OTP if available. This can save days of processing time.
- Please submit your application and keep track of the reference number for updates.
- SBI will verify details, and if approved, the money will be sent straight to your account.
Pro Tip: Existing SBI customers can log in with net banking credentials to speed up the process.
2. Apply Using the YONO App
Pre-Approved Personal Loan (PAPL)
- Open YONO and log in.
- Tap the Pre-Approved Personal Loan option on the home or loans screen.
- Confirm details, choose your loan amount and tenure, and approve via OTP/e-Sign.
- Funds can be credited almost instantly if you’re eligible.
Also Read: Get Instant 1,000 Loan on Aadhaar Card
3. Apply Offline at an SBI Branch
- Visit your nearest SBI branch and ask for the personal loan application form.
- Fill out the form with your details and select your loan type.
- Submit document copies; the originals must be available for inspection.
- Submit everything to the loan desk or relationship manager.
- After verification and approval, the funds are credited to your account — usually within a few working days.
