State Bank of India Personal Loan

State Bank of India requires a minimum monthly income of ₹15,000 for personal loan applicants. Salaried employees with a regular salary credit and self-employed professionals with documented income both qualify, subject to individual credit assessment.

State Bank of India charges a processing fee of 1% + GST (min ₹1,000). This is a one-time charge deducted from the disbursed amount. GST at 18% is also applicable on the processing fee. There are no hidden charges — all fees are disclosed upfront on Paisawaala.

The final step with State Bank of India is typically: Loan sanctioned and disbursed within 2–5 days of approval. For existing customers or pre-approved offers, the timeline is significantly shorter.

State Bank of India requires a minimum CIBIL score of 650. A higher score (750+) improves your chances of getting a lower interest rate. You can check your CIBIL score for free on Paisawaala before applying.

Yes, most personal loans from State Bank of India can be foreclosed after a lock-in period (typically 6–12 EMIs). Foreclosure charges may apply depending on when you close the loan and the outstanding principal. Check the loan agreement for exact terms.

State Bank of India is a scheduled public sector bank regulated by the Reserve Bank of India (RBI). Your deposits are insured by DICGC up to ₹5 lakhs.