Are you looking for the best SBI Personal Loan Interest Rate for securing a loan? With SBI personal loans, you can get access to funds for any purpose – be it for renovating your home, buying a new car, or for consolidating debt. Over the years, State Bank of India (SBI) has become one of the most trusted financial institutions in India, offering attractive loan deals and packages.

What Is SBI Personal Loan Interest Rate?

SBI personal loans are available at a range of attractive interest rates, starting from 9.60% per annum. The exact rate of interest depends on your credit profile and the loan amount. Generally, the rate of interest decreases as the loan amount increases. However, to make the most of a SBI personal loan, it is important to understand the different interest rate types, before applying.

Types Of SBI Personal Loan Interest Rates

SBI offers various types of interest rates to its applicants, depending on their eligibility. These interest rates are applicable on both salaried and self-employed applicants.

1. Pension Loan Scheme:

Central and state government pensioners, defence pensioners and family pensioners are eligible for SBI Pension loan scheme. Under this scheme, SBI offers personal loans at the lowest interest rate of 10.15% per annum.

2. Xpress Credit:

Applicants of defence, central armed police, Indian coast guard, central government, state government, police and railway, etc., who are considered under Ratna status, can avail the Xpress Credit scheme from SBI. The mean ROI for Xpress Credit (Oct-Dec 22) is 11.56% per annum.

3. Regular Loan:

This is the regular interest rate that SBI charges for personal loans. The current rate of interest is between 11
nd 15% per annum, depending on the loan amount and credit profile.

What Is The Features And Benefits Of SBI Personal Loan?

SBI personal loan comes with several attractive features and benefits, such as:

1. Flexible tenures: SBI provides the flexibility of choosing loan tenures ranging from 12 months to 84 months or 7 years. This helps in customizing the loan suitably as per the borrower’s repayment capabilities.

2. No, Collateral: SBI personal loans are unsecured loans, which means there is no need to provide a collateral or security to avail it.

3. Online application: SBI personal loan can be applied and approved online, without having to visit the branch. This makes the entire process convenient and fast.

4. Low processing fees: The bank levies a low processing charge of up to 1.50%, depending on the loan amount.

How To Get The Best SBI Personal Loan Offer?

To get the best SBI personal loan offer, an applicant needs to keep the following in mind:

1. Check the credit score: Before applying for a loan, it is important to check the credit score to understand the rate of interest one is eligible for.

2. Compare lenders: Comparing different lenders and their interest rates allows borrowers to make an informed decision.

3. Negotiate: It is not uncommon for customers to negotiate with lenders to get a better deal. In case of SBI personal loans, one can negotiate the rate of interest by offering high loan amounts or by responsibly building a good credit history.


SBI is offering attractive personal loan interest rates starting at 9.60% p.a. to its customers. The bank provides flexible loan tenures, no collateral requirement, low processing fees and other attractive features. However, to get the best SBI personal loan offer, it is important to compare different lenders and negotiate for better terms.