SBI SARAL PERSONAL LOAN

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Do you want funds readily available to you whenever you desire or need, be it a
sudden vacation that you plan with your family or urgent funds required for
medical treatment? SBI Saral - Personal Loan is the answer to your questions.
Access this facility from over 3000 branches across the country and confidently
face the challenge of meeting any kind of personal expenses!!

Enjoy the SBI Advantage :

Low interest rates. Further, we charge interest on a daily reducing balance!!

Low processing charges; only 2%-3% of loan amount
No hidden costs or administrative charges.
No security required ……which means minimal documentation…something
that you had always wanted.
No prepayment penalties. Reduce your interest burden and optimally utilize
your surplus funds by prepaying the loan (1% of the loan amount will be
charged if you repay the loan before 6 months)
Long repayment period of up to 48 months.

The Scheme

Purpose
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.)

Eligibility
You are eligible if you are a Salaried individual of good quality corporate, self
employed engineer, doctor, architect, chartered accountant, MBA with minimum 2
years standing.

Salient Features
Loan Amount
Your personal loan limit would be determined by your income and repayment
capacity.
Minimum : Rs.24,000/- in metro and urban centres
Rs.10,000/- in rural/semi-urban centres

Maximum : 12 times Net Monthly Income for salaried individuals and pensioners
subject to a ceiling of Rs.10 lacs in all centres

Documents Required
Important documents to be furnished while opening a Personal Loan Account:
 For existing bank customers
Passport size photograph

From salaried individuals

Latest salary slip and Form 16

Margin
We do not insist on any margin amount.

Interest Rates:
Click here for Interest Rates

Repayment
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.

w.e.f. 29.06.2009 (SBAR 11.75%)

Other Loans
Type of Facility Rate of Interest
Clean Overdraft 4.00% above SBAR i.e. 15.75% p.a.
Personal Loans Scheme (SBI Saral) 4.25% above SBAR i.e. 16.00% p.a.
SBI Loan to Pensioners 0.50% above SBAR i.e. 12.25% p.a.
Festival Loan Scheme 2.50% above SBAR i.e. 14.25% p.a.
Loans to Employee to Subscribe to
2.25% above SBAR i.e. 14.00% p.a.
ESOPs
Loan against 1.00% over the rate paid on
Bank Time Deposit Relative time deposit
Rent Plus Scheme
Centre Loan Amount Rate of Interest
Metro Loan upto Rs. 7.50 Crores 1.00% above SBAR i.e. 12.75% p.a.
Above Rs. 7.50 Crores 1.25% above SBAR i.e. 13.00% p.a.
Non Metro Loan upto Rs. 5.00 Crores 1.00% above SBAR i.e. 12.75% p.a.
Above Rs. 5.00 Crores 1.25% above SBAR i.e. 13.00% p.a.

XPress Credit
Type Facility Rate of Interest
Demand Loan Check-off from Employer 0.75% above SBAR i.e. 12.50% p.a.
Overdraft Where salary A/C is with us 1.25% above SBAR i.e. 13.00% p.a.

NOTE: ALL INTEREST RATES ARE SUBJECT TO CHANGE, WITHOUT NOTICE.

Introduction

SBI provides SBI Saral personal loan to help you in meeting any kind of personal expenses whenever you need it to
meet your requirements. Loan is provided at low interest rates, no hidden costs or administrative charges, no
prepayment penalties and comfortable repayment tenure.

Highlights

Salaried Self Employed

Loan Scheme Saral Personal Loan Saral Personal Loan
Loan Type Term Loan Term Loan
Loan Amount Max Loan: 12 times the monthly Max Loan: 12 times the monthly
income income
Tenure Min. - 12 Yrs. Min. - 12 Yrs.
Interest Rate Min. - 16 % Min. - 16 %
Max. - 16 % Max. - 16 %
Time to Process Loan 2 days 2 days

Fees & charges

Salaried Self Employed

Processing Fee 2% 2%
 Eligibility Criteria

Salaried:

Monthly Income Rs 5000

Age Min.: 21 Yrs. Max.: 58 Yrs.

Documents Required:

ID Proof Yes

Residence Proof Yes

Income Proof Yes

Telephone No

Photograph Yes

Bank Statement Yes

Signature Proof Yes

Self Employed:

Monthly Income Rs 7000

Age Min.: 21 Yrs. Max.: 65 Yrs.

Documents Required:

ID Proof Yes

Residence Proof Yes

Income Proof Yes

Telephone No

Photograph Yes

Bank Statement Yes

Signature Proof Yes