SBI Business Loan
SBI Business Loans✓ Get Details on Documents ✓ Interest Rates ✓ EMI ✓ Processing Charges on SBI Business loans Online.
The loan will be granted for any legitimate purpose whatsoever (e.g. expenses for domestic or foreign travel, medical treatment of self or a family member, meeting any financial liability, such as marriage of son/daughter, defraying educational expenses of wards, meeting margins for purchase of assets etc.)
Interest Rate | 11.20% – 16.30% |
Lowest EMI | Rs. 2,594 per lakh |
Tenure | 1 Year to 4 Years |
Loan Amount | Min Rs. 500,000 and Max Rs. 1,000,000,000 |
Part Prepayment Charges | Nil Prepayment Charges after 6 EMI’s |
Early Foreclosure Charges | Nil Prepayment Charges after 6 EMI’s |
You are eligible if you are a Salaried individual, self employed engineer, doctor, architect, chartered accountant, or a MBA with minimum 2 years experience.
Loan Amount
Your personal loan limit would be determined by your income and repayment capacity. Minimum :
Maximum : 12 times Net Monthly Income for salaried individuals and pensioners subject to a ceiling of Rs.10 lacs in all centres
Important documents to be furnished while opening a Personal Loan Account:
Repayment Options:
The loan is repayable in 48 EMI. You are allowed to pay more than the EMI if you wish to, without attracting any prepayment penalty.
Security – NIL
Processing Fee
Processing charges are 2-3% of the loan amount. This is amongst the lowest fees in the industry. Processing fees have to be paid upfront. There are no hidden costs or other administrative charges.
Source: State Bank of India Official Website