SBI Personal Loan Guide July 2025: Schemes, Rates And Charges Explained
In July, SBI offers personal loan interest rates between 10.30 per cent and 15.30 per cent per year.
The State Bank of India (SBI) continues to be one of the top choices for personal loans in July this year. With various loan schemes designed for salaried individuals and pensioners, SBI offers competitive interest rates, flexible eligibility, and convenient repayment options.
Whether you are a government employee, private-sector worker, or pensioner, there is likely an SBI loan plan that fits your needs. You can check the updated interest rates and processing fees for SBI personal loans in July below:
Interest Rates on SBI Personal Loans
As of July 2025, SBI's personal loan interest rates are linked to the 2-year Marginal Cost of Funds based Lending Rate (MCLR), which is currently 9.05 per cent (effective from March 14, this year).
On top of this, the bank adds a spread ranging from 1.25 per cent to 6.25 per cent, depending on your credit score, income, employer category, and your relationship with the bank. This brings the effective interest rate to a range between 10.30 per cent and 15.30 per cent per annum.
Processing fees
As per Mint, SBI charges a processing fee of up to 1.5 per cent of the loan amount, which can vary from Rs 1,000 to Rs 15,000, plus GST. If you choose to repay your loan early (for fixed-rate loans), you will need to pay a foreclosure fee of 3 per cent of the prepaid amount.
Meanwhile, missed EMIs attract a penal charge of 2 per cent per month on the overdue amount. In addition, actual charges can vary based on your profile.
– Under the Xpress Elite scheme, government, PSU, and defence employees with SBI salary accounts get rates of about 11.45 per cent to 11.95 per cent.
– For private sector employees, the rates range between 11.60 per cent and 14.10 per cent.
– The Xpress Credit scheme targets salaried professionals in corporates, with rates from 12.60 per cent to 14.60 per cent.
– New or entry-level employees can consider Xpress Lite, with lower rates starting at 10.30 per cent and going up to 12.10 per cent.
Pension Loan Options
SBI also caters to pensioners. Government retirees can avail of loans at rates between 11.15 per cent and 11.65 per cent, while defence pensioners under the Jai Jawan Pension Loan scheme are charged a flat 11.15 per cent.
For pre-approved pension loans for existing customers, the rate also stands at 11.15 per cent. These loans often have reduced processing fees.
How to Calculate Your EMI
Your loan EMI will depend on the loan amount, interest rate, and tenure you choose. Higher loan amounts or longer tenures lead to higher EMIs. To plan better, you can use SBI's EMI calculator on their website to estimate your monthly repayment.
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First Published:
July 09, 2025, 13:02 IST
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