SBI personal loan interest rate July 2025: Check updated rates and processing fees
Parameter Value 2-Year MCLR (effective 14 Mar 2025) 9.05% Interest rate spread over MCLR 1.25% - 6.25% Effective interest rate range 10.30% - 15.30% per annum
Note: Actual interest rate depends on the borrower's credit profile, income level, employer category, and SBI relationship.
Charge type Details Processing fee Up to 1.5% of loan amount ( ₹ 1,000– ₹ 15,000) + GST Prepayment/ Foreclosure 3% of prepaid principal (for fixed-rate loans) Penal charges 2% per month on overdue EMI
Note: Actual interest rate depends on the borrower's credit profile, income level, employer category, and SBI relationship.
Scheme Eligible borrowers Interest spread over MCLR Effective rate (approximately) Xpress Elite (Govt/PSU/Defence) Salary A/c with SBI 2.40% – 2.90% 11.45% – 11.95% Xpress Elite (Private) Salary A/c (Non-govt.) 2.55% – 5.05% 11.60% – 14.10% Xpress Credit (General Corporates) Salaried 3.55% – 5.55% 12.60% – 14.60% Xpress Lite Entry-level salaried ~1.25% – 3.05% 10.30% – 12.10%
Note: Interest rates depend on loan amount, employer category, and credit score.
Scheme Eligible pensioners Interest rate (per annum) Pension Loan (Treasury/PSU) Government pensioners 11.15%-11.65% Jai Jawan Pension Loan Defence pensioners 11.15% Pre-approved Pension Loans Existing customers 11.15%
Note: Processing fees are generally lower for pension loans; check scheme terms.
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.
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. 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.
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