Urgent or Emergency Personal Loan - SBI Saral Personal Loan





What happened when you are in need of urgent fund due to a hospital case or sudden travel plan? Do you want funds readily available to you whenever you desire or need? SBI provides a personal loan scheme, Saral Personal Loan, an urgent financing solution.Urgent or Emergency Personal Loan - SBI Saral Personal Loan

 

Feature of SBI Saral Personal Loan

The loan will be granted for any legitimate purpose whatsoever (eg. expenses for domestic orforeign 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 for SBI Saral Personal Loan

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.

SBI Saral Personal Loan Amount

Your personal loan limit would be determined by your income and repayment capacity.

  • Minimum Amount:
    • Rs.24,000/- in metro and urban centres
    • Rs.10,000/- in rural / semi-urban centres
  • Maximum Amount:
    • 12 times Net Monthly Income for salaried individuals
    • Pensioners subject to a ceiling of Rs.10 lacs in all centres

Documents Required for SBI Saral Personal Loan

  • For existing bank customers: Passport size photograph
  • From salaried individuals: Latest salary slip and Form 16

Repayment of SBI Saral Personal Loan

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

Charges / Fees

Processing charges are 2% - 3% of the loan amount + applicable Service Tax

Prepayment Charges

  • Any prepayment of EMI in full or in part and closure of account before the end of term will attract the prepayment charges of 3% on prepaid amount.
  • No prepayment/ foreclosure charges will be applicable if the account is closed from the proceeds of a new loan account opened under the same scheme.
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