Personal loan interest refers to the cost a borrower incurs for borrowing money from a financial institution, typically expressed as an annual percentage rate (APR). This interest is the additional amount paid on top of the principal loan amount and is the lender's profit for providing the loan. I learned all these details during my visit to the SBI bank’s branch and also learned about what is SBI personal loan interest rate. If you are not aware of it, learn its details here.
What is the Current Interest Rate of SBI Personal Loan?During my last visit to the bank, I learned that the SBI’s interest rate for personal loans starts at 11.05% per annum. Here is the list wise interest rate for different types of schemes:
Applicants of Defence/ Central Armed Police/ Indian Coast Guard2 year MCLR |
Spread over 2 years, MCLR |
Effective Interest Rate with No Reset |
8.65% |
2.40% - 3.90% |
11.05% - 12.55% |
2 year MCLR |
Spread over 2 years, MCLR |
Effective Interest Rate with No Reset |
8.65% |
2.40% - 4.90% |
11.05% - 13.55% |
2 year MCLR |
Spread over 2 years, MCLR |
Effective Interest Rate with No Reset |
8.65% |
3.40% - 5.40% |
12.05% - 14.05% |
Scheme |
2 year MCLR |
Spread over 2 year MCLR |
Effective Interest Rate with No Reset |
SBI Pension Loan |
8.65% |
2.55% |
11.20% |
Jai Jawan Pension Loan |
8.65% |
2.55% |
11.20% |
Pension Loan Scheme For Treasury & PSU Pensioners |
8.65% |
2.55%-3.05% |
11.20% - 11.70% |
Pre-Approved Pension Loans (PAPNL) |
8.65% |
2.55% |
11.20% |
Pre-approved Insta Pension Top-Up |
8.65% |
2.55% |
11.20% |
You can know more about what is current SBI personal loan interest rate from SBI’s official website:
https://sbi.co.in/web/interest-rates/interest-rates/loan-schemes-interest-rates/personal-loans-schemes
But if you are really interested in availing of a home loan, ask the bank officials about what is SBI personal loan interest rate to be more sure.
Get your home loan approved with ease through NoBrokerRead More:
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What is SBI Personal Loan Interest Rate?
Raktim
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8 months
2023-10-24T21:52:19+00:00 2023-10-24T21:52:19+00:00Comment
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