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SBI Saral Personal Loan
31 Mar 2019 | 3 min read
When it comes to availing personal loans in India, the first name that comes to our mind is SBI. The State Bank of India has been a preferred choice for ages when people want to avail a personal loan. SBI is India’s largest public sector bank, with over 24000 branches across the country. SBI personal loan products are designed to cater to the distinct needs of a diverse set of people (salaried, self-employed, pensioners etc). SBI Personal loan is known to offer facilities such as zero prepayment, minimum processing fees, low SBI Personal Loan Interest Rate and so on and no wonder why it is one of the largest lenders in the country.
In this blog, we will talk about SBI Saral Personal Loan, a usually designed keeping in mind the distinct needs of the salaried /self-employed class or people with a continuous source of income.
Features for SBI Saral Personal loan -
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| SBI Saral Corporate Net Banking
SBI Personal Loan Eligibility for Saral Personal Loan
You are eligible for this personal loan by SBI if you are one of those salaried employees in a reputed government/corporate institution. Self-employed individuals (engineers, doctors, chartered accountants etc) can also avail this loan but they need to show a minimum of 2 years of experience in their relevant fields.
Fees of SBI Saral Personal Loan
You will be required to pay certain fees for the processing of the SBI Saral loan. The processing fees are 2% - 3% of the loan amount and 18% GST on the same. There is also a prepayment charge associated with the loan. You can pay your EMIs in part or full before the loan tenure ends. You can also close the account before the term ends. However, there is a 3% prepayment charge on the amount. Incase of the closure of the account from the proceeds of a new loan account, there will be no prepayment charge.
Documents required for the loan
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For salaried person |
For self-employed |
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Application form with photograph |
Application form with photograph |
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KYC documents |
KYC documents |
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Last 6 months bank statements |
Last 6 months bank statements |
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Last 3 months salary slip |
Residence Proof |
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Form 16(ITR) |
Form 16(ITR) |
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Residence Proof |
Proof of business existence |
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Profit/loss statements of business |
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Last 3 years income tax returns |
Contact Us
Afinoz.com can help you get an SBI Personal loan online. You can apply for an SBI personal loan from us and can also check your tentative EMI or SBI Personal Loan Eligibility using our utility tools such as Personal Loan EMI calculator and Personal Loan Eligibility calculator. The dedicated experts in Afinoz will provide you with the best possible financial advice, tailored to your specific needs so that you can avail the Best Personal Loan Interest Rate. Our best services are offered to you absolutely free of cost.
Why Afinoz
Afinoz.com, one of the India's leading personalized financial marketplace has framed a personal loan platform which lets you choose the best personal loan from the options that match your specific needs and most convenient for your personal requirements.
- Instant Approval – Once you fill in and submit the application form along with the mentioned documents, you will get your e-approval within 2 to 3 days.
- Real-time application tracking – Keep track of the application status in real-time with a unique transaction id which is generated at the time of loan application submission. We ensure that all the applicants are kept informed about their application process at each step via SMS and emails.
- Online eligibility check - Do all your dealings with the bank online. Provide your basic information and our online personal loan eligibility calculator will let you know the amount of loan you are eligible to borrow from Axis bank for your personal financing.
- Secure Environment - Afinoz.com has a built-in security for your personal information which is stored in a secure environment in our system with your consent. This information then sent to the bank in an encrypted format digitally and is very secured and scripted.
- 24/7 Customer Service - At any stage of the process if you have any query or seek any financial advice, our experienced and well-trained customer service team will offer the best financing/investment solutions to your problems. So there's no need for you to waste time and make multiple trips to the bank to discuss the loan specifications with the bankers.
- No third-party agent – Afinoz.com online loan application process is free from any unneeded expenses and delays. One can approach bank online directly without having to involve any agent.
FAQs-
Query- For what purpose can I use the SBI Saral personal loan?
Reply- sbi saral personal loan offers the most flexible personal loans as per the requirements and needs of the borrowing individuals. You can sbi saral personal loan apply online pretty much for any genuine credit need of yours including but not limited to wedding expenses, educational expenses, emergency medical needs, travel expenses and so on. You can do an sbi saral personal loan online apply to get a personal loan very easily with attractive interest rates.
Query- How does the sbi saral personal loan decide on the maximum loan amount for a borrower during the sbi saral personal loan online apply ?
Reply- When an individual sbi saral personal loan apply online, the maximum loan amount for him is decided on the basis of a number of factors, such as his monthly income, credit history, credit score and so on. The number and nature of other active loans availed by him and the current amount paid by him towards the EMIs are also considered during the approval process. More details regarding the application procedure are available in the sbi saral personal loan application form pdf which can be downloaded from sbi onine website.
Query- Are there any additional charges associated with the loan?
Reply- You will be required to pay processing fee of 2% to 2.5% based on the company you are employed in. This will be your loan processing fee that will be deducted from the loan amount payable to you.
Query- Do I have to provide a security for the SBI Saral Personal loan?
Reply- There is no requirement of security or guarantors for the loan.
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