SBI Personal loan Eligibility

SBI Personal Loan
SBI offers Personal Loans at very low interest rates to salaried customers, self-employed individuals and working professionals. SBI doesn’t require any collateral or security to grant the personal loan. The personal loan can be availed for various personal expenditures like travel, wedding, medical expenses, purchase of assets and other personal expenses. SBI has a quick loan approval system where the personal loans are granted within a few days of the document submission. SBI ensures that its customers get the maximum benefit by charging interest on a daily recurring balance basis.

Check your SBI Personal Eligibility Online:

One can check if they are eligible to avail personal loan online through the SBI website or other financial websites which provide the eligibility criteria to avail a SBI Personal Loan.
SBI grants personal loan to salaried individuals, self-employed customers and working professionals in both metro and rural areas. Let’s take a look at the eligibility criteria to avail SBI Personal Loan for salaried individuals, self-employed individuals and working professionals.

Eligibility criteria to avail SBI Personal Loan for Salaried Individuals:
Minimum Age: 21 years.
Maximum Age: 58 years.
Total number of years in the profession: 2 years
Total number of years in the current residence: 1 year
Minimum Income: The Salaried individual should earn a minimum of Rs. 5000
Every month to avail the SBI Personal Loan.

Eligibility criteria to avail SBI Personal Loan for Self Employed individuals and working professionals:
Minimum Age: 21 years.
Maximum Age: 65 years.
Total number of years in the profession: 2 years.
Minimum Income: The working professionals and self-employed individuals should earn
Minimum of Rs. 7000 every month to avail the SBI Personal Loan.

The tenure period for SBI personal loans ranges from 12 to 48 months. It offers a minimum of Rs. 48,000 and Rs. 10,000 for personal loan in metro and rural areas respectively.

Policy Bazaar: Personal Loans To Clear Financial Debts

In a situation when you require funds to clear your financial debts, one product that may come to your immediate rescue is the personal loan.

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