Loans to Salaried Employees having salary account with SBI

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Loans to Salaried Employees having salary account with SBI

Quick personal loans for salaried SBI account holders with low processing fees, minimal paperwork, and no hidden charges.

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Details for Loans to Salaried Employees having salary account with SBI

This loan is designed exclusively for salaried individuals with an SBI salary account, offering quick access to funds with minimal documentation and low processing fees. No collateral or guarantor is required. Enjoy zero hidden charges, flexible repayment via term loan or overdraft, and the option for a second loan. Benefit from digital document execution and interest on daily reducing balance, ensuring cost-effective borrowing tailored to your needs.

Loan Amount

1,00,000/- to 35,00,000/-

Interest Rate

10.30% p.a.

Age

  • 21-60 years. Loans to Government/ Defense sector employees in service & having age more than 60 years may be considered on case-to-case basis.

CIBIL Score

  • A CIBIL score of 730 or above is generally considered good for approving a personal loan.

Required Documents

  • Application Form along with photograph of the borrower
  • Permanent Account Number (PAN)
  • At least one copy of the Officially Valid Documents (OVDs)
  • 6 months’ Salary Slips
  • Latest ITR/ Form 16. However, it is waived for all salaried employees for whom income tax is not applicable or not deducted by the employer, in line with the norms stipulated under Income Tax Act, e.g., customers having <1 year of service, customers having taxable Income in “Nil” Tax Rate %age slab, customers of any State/ UT with no income tax, etc.
  • 6 months’ Salary Account Statement (i.e. account statement(s) where last 6 months’ salary is credited)

Nature of Employment

  • Government sector (Central Government/ State Government/ Railway/ Police/ PSU)
  • Defence sector (Defence/ Indian Coast Guard/ Central Armed Police)
  • Corporate sector

Minimum Monthly Income

  • Government/ Defence Sector employees: ₹20,000/-
  • Corporate Sector employees: ₹25,000/-

Loan Processing Charges

  • Up to 1.50% of the Loan Amount + GST

Minimum Work Experience

  • Government/ Defence Sector employees: 6 months
  • Corporate Sector employees: 12 months

Features

  • Low processing charges
  • Minimal documentation
  • Zero hidden costs
  • No security, no guarantor
  • Provision for second loan
  • Digital Document Execution facilit
  • Term loan facility on daily reducing balance or Overdraft facility with reducing Drawing Power

₹10,000₹1,00,00,000

0%20%

1 Year30 Years

Loans to Salaried Employees having salary account with SBI EMI Calculator

Principal amount

₹1,00,000

Interest amount

₹542

Total amount payable

₹1,00,542

Your Monthly EMI is ₹8,379
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