When you are looking for a personal loan, the first thought never comes about any public banks such as SBI. People always give first priority to instant loan apps on the Google play store. However, if you do a research, you will find out SBI also has fantastic personal loans.
SBI saral persona loan is
one of those top deals you could check out. So, here we will give you every
little deal you needed to about it. By the way there is also SBI personal loan for govt
employee, SBI pension loan in case you wanted to
check them out.
The loan details for SBI
saral personal loan
⮚
The loan could be availed for
any emergency purposes. Whether you need it pay medical bills, education fee,
wedding shopping or any other emergency you might stumble upon.
⮚
The loan amount will be
depended the monthly income, expenses and the repayment capacity. You could get
the loan amount up to 12 times of your net monthly income, which had to be
repaid in 48 EMS or 4 years.
⮚
The minimum loan amount you can
borrower for rural/ semi urban area is Rs 10,000 and for urban area it is Rs
24,000.
⮚
There is no need for collateral
or security.
⮚
You will only have to submit
minimal documentary to apply for the loan.
⮚
There are no large prepayment
charges in SBI saral personal loan.
⮚
The processing fee is from 2%
to 3% of the loan amount.
The eligibility criteria for
SBI saral personal loan
⮚
If you are a salaried individual
working in a government or private company.
⮚
If you are a self-employed
professional such as doctor, chartered account with minimum 2 years of work
experience
Fee and rate of interest
⮚
The rate of interest starts at
11.60% onwards.
⮚
The processing is 2% to 3% of
the loan.
⮚
The prepayment charge is 3% of
the loan amount.
Documents required for the
loan
There are two sets of documents for salaried individual and self
–employed professional .
For Salaried individual
⮚
Application form
⮚
Passport size photograph
⮚
KYC documents ( Aadhar card,
PAN Card, Voter ID card, Driving license)
⮚
Bank statement for the last 6
months
⮚
Salary slips for the last 3
months
⮚
Form 16
⮚
Residence proof ( Electricity bill, rent agreement)
For self-employed
professional
⮚
Application form
⮚
Passport size photographs
⮚
Identity proof ( Aadhar card,
PAN Card ,Passport, Voter ID card)
⮚
Residence proof ( Electricity
bill, rent agreement, post paid bill, telephone bill, water bill)
⮚
Form 16
⮚
ITR
⮚
Income tax returns for the last
3 years
⮚
Profit/loss statement
⮚
Proof of business existence
How to apply for SBI Saral
personal loan?
The best way to apply for the loan is to go it’s official website, choose the personal
loan, fill out the application. A representative will contact you for further
information.
Conclusion
So, this everything you needed to know
about SBI Saral personal loan. The details are presented in a easily manner to
describe it. One last thing, do not sign the loan paper before you read them.
There are many things which are mentioned in the documents, which you about do not know. So ,read it carefully.
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