SBI Personal Loan: Interest Rates, Eligibility, and Application Process Explained

• SBI offers various personal loan categories like Xpress Credit for salaried individuals, with different terms for government employees, defense personnel, and pensioners.
• The application process is largely unsecured, meaning no collateral or guarantor is required, making it accessible for many.
• Existing SBI customers with updated KYC can apply online, often with pre-filled data, leading to quick digital verification and approval within days.
• Offline application is also available at branches, where loan officers can guide applicants through eligibility and documentation, though the process might be slower.
• Interest rates are not uniform; they depend on credit score, income stability, employment, and loan category, with the final rate determining the EMI.

Why It Matters: SBI Personal Loans offer flexible options with varying interest rates based on applicant profiles and easy application processes.