SBI Personal Loan

Features:

·Loans are provided for domestic or foreign travel, medical treatment of self or a family member, meeting any financial liability such as marriage of son/daughter, paying educational expenses of wards, meeting margins for purchase of assets etc.

· No security is required.

·Loan Amount: Minimum-Rs 24,000/- in metro & Rs 10,000/- in rural or semi urban cities.Maximum-12 times Net Monthly Income for salaried individual & pensioners, up to 10 lakh.

· Repayment period: Max up to 48 months

Eligibility:

·  Any salaried individual of a reputed corporate, having 2 years of experience.

· Any self-employed engineer, doctor, architect, chartered accountant or MBA, with 2 years of experience.

Charges:

· Processing Charges: 2 to 3% of loan amount.

· Prepayment Charges: 1% of the loan amount will be charged if you repay the loan before 6 months.

Interest Rates:

· Floating Interest Rate: 8.5% above base rate, currently- 17.75% (Base Rate-9.25%)

Salaried Individuals

• Application form with recent photograph
• Latest salary slip and Form 16
• Bank statement for last 3 months
• Proof of Identity (any one): Passport/Driving licence/Photo credit card/Employee licence/Voter's ID/PAN card
• Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill

Self Employed

• Application form with recent photograph
• IT returns for last 2 years
• Bank statement for last 6 months
• Proof of Identity (any one): Passport/Driving licence/Photo credit card/Employee licence/Voter's ID/PAN card
• Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
• P&L and Balance Sheet for last 2 years certified/audited by CA