Yes, if you meet the criteria of the SBI Personal Loan, it will be easy for you. The bank qualifies the applicant who has a regular income, age-appropriate and good credit. So if you check these boxes and need a lump sum amount, apply for the loan. You can get the loan in your account immediately if you are an existing customer. But this is true only if you are pre-approved for the loan. Not all customers will get this offer, only those who have a good relationship with the bank will get it. Because it is the applicant’s record that is taken into consideration while selecting for a pre-approved loan. Continue this page below to learn more about the SBI Personal Loan.
Methods for SBI Personal Loan Apply
You can apply for the loan through various means such as mobile apps, bank portals, SMS, branch visit, etc. Let’s learn about each of these processes in detail –
The YONO app helps existing bank customers borrow personal loans from SBI easily. Download the app to your smartphone, and log in to your account. Go to the loans section and select ‘personal loan’. Now, fill in the application form and submit it along with uploading your documents. Wait for the bank’s response now. An SMS or email will be sent to your registered mobile or email if the loan is approved or rejected. As you get the result of your application, contact the SBI personal loan customer service and know when you will be getting the loan amount disbursed, and if the loan is approved. Otherwise, know about the reason for loan rejection.
Visit the bank website on your smartphone and laptop, on the loan section, select ‘personal loan’. Choose the type of personal loan you want. Check out the bank offer, and click on the ‘Apply Now’ button. Now you are redirected to the application page. Fill in the application with the below details –
- Date of birth
- Resident type
- Employment nature
- Organization type
- Number of years spent in the current job
- Gross monthly salary
- Existing EMI if any
- Retirement age
- Workplace details
- Contact details
- Click on the ‘submit’ button
Now the loan offers will be displayed on your screen. Select the one and click on the ‘Proceed’ button. The next step is documentation. Upload your KYC and income proof of yours in a pdf format. All the steps are completed now.
Go to your nearby SBI Bank branch, talk to the bank representative and tell him about your interest in the personal loan. He or she will tell you about the loan product and hand you an application form, fill this form with the required information, and attach the documents and passport-size photograph. Submit the form and the documents at the counter and wait for the bank’s response. A call, SMS or email will be made regarding your application, so provide your active mobile number and email address, so you won’t miss any important communication.
List of Documents for SBI Personal Loan Apply
You need the following documents for the application for loan –
In this section documents like –
- Aadhaar Card
- Driving License
- PAN Card
Will be valid, as these documents help the lender know whether your name, age and address are correct as mentioned in the application form.
Here documents like salary slips or bank statements will be enough. And if you are an SBI customer and your salary is disbursed there, these documents won’t be required as well. In the case of a self-employed applicant, the bank needs the last three years’ income tax return report. This helps the lender know how the applicant’s business is going. Because this data is crucial, as the bank needs its money bank in equated monthly installments.
If you are highly eligible for the loan, SBI Personal Loan Interest Rate can be negotiated. So apply for the loan now.