State Bank of India Personal Loan

State Bank of India Loan to Salaried Customers not Maintaining Salary Account with SBI

This loan is specifically designed for salaried employees of govt. organisations to help them get funds to meet their urgent financial needs. This personal loan can also be repurposed into a consolidation loan to pay off their high-interest credit card debts and loans.

Features of SBI Personal Loan Scheme for Salaried Customers

Why this Loan?

  • The SBI Personal Loan Scheme for Salaried Customers is meant for salaried employees of government units/institutions who need funds to meet their personal needs. This loan can also be used to pay off high-interest debts, thereby consolidating debt
  • Interest is levied on daily reducing balance. The bank also offers a provision for a second loan based on the borrower’s needs

Loan Amount

  • The maximum loan amount offered under this loan scheme is up to Rs. 20 lakh


  • The interest rate applicable to this loan is defined as the sum of two factors: one-year Marginal Cost of Funds based Lending Rate (MCLR) and a Spread factor. As of October 2020, the interest rate applicable to this loan is not mentioned on the bank’s website


  • This loan must be repaid within 6 years or the remaining period of service, whichever is lower


  • Salaried employees of Public Sector Undertakings, Central Government or State Government units, reputed corporate entities, educational institutions of national repute, etc. with a minimum net monthly income of Rs. 15,000

Security Needed

  • This is a collateral-free loan

Processing Charges

  • The bank charges 1.50% of the loan amount for processing this loan

Documents Needed

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns

Reference Facts

  • State Bank of India Website: and (net banking)
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Toll-Free Number: 1800 11 2211, 1800 425 3800