SBI online loan 50,000: apply without documents, interest rate, for salaried

SBI online loan 50,000: In today’s fast-paced world, financial needs can arise at any time. Often, people turn to friends or relatives for help, only to face refusals or excuses, leading to awkward situations. To avoid such circumstances, you can apply for a personal loan from the State Bank of India (SBI). Known for its reliability, SBI offers personal loans at competitive interest rates to meet your financial requirements with ease.

With SBI, you can avail a personal loan ranging from ₹50,000 to ₹20 lakhs, repayable over a flexible tenure of 12 months to 7 years.

SBI online loan 50,000 Interest Rates

SBI provides personal loans at attractive interest rates, starting from 11.25% to 14.85% per annum, depending on the applicant’s credit score. Additionally, the processing fee for these loans is just 1% of the loan amount, making it a cost-effective solution for your financial needs.

Features of SBI online loan 50,000

Loan Amount: Borrow from ₹50,000 to ₹30 lakhs based on your needs.
Competitive Interest Rates: Interest rates start at just 11.25%.
No Collateral Required: SBI personal loans are unsecured, eliminating the need for any guarantor or collateral.
Flexible Usage: Use the loan for any personal expenses, including medical bills, weddings, or travel.
Convenient Repayment Tenure: Repay the loan over a tenure of up to 5 years.
Minimal Processing Fee: The loan involves a nominal processing charge.

Eligibility Criteria for SBI online loan 50,000

To apply for an SBI personal loan, ensure you meet the following criteria:

Citizenship: Applicant must be an Indian citizen.
Age Limit: Between 21 and 62 years.
Minimum Income: Monthly income should exceed ₹15,000.
Credit Score: A minimum CIBIL score of 750 is required.
Employment Type: Applicant should be salaried, self-employed, or a pensioner.
No Defaults: The applicant must not be a defaulter with any financial institution.

Documents Required for SBI online loan 50,000

Keep the following documents ready when applying for a personal loan:

Aadhaar Card
PAN Card
Income Proof (Salary Slips for the last 3 months)
IT Returns for the past 2 years
Bank Statements for the last 6 months
Passport-sized Photograph
Mobile Number

How to Apply for an SBI Personal Loan Online 50,000

Follow these steps to apply for an SBI online loan 50,000 online:

Visit the official SBI website.
Navigate to the personal loan section on the homepage.
Enter the required details in the application form.
Check the loan offers based on your credit score.
Click on the “Apply Online” button.
Complete the form with accurate details such as name, date of birth, address, income, loan amount, and tenure.
Verify your identity using Aadhaar OTP for KYC completion.
Provide your bank details to receive the loan amount.
Set up e-Mandate for auto-debit repayments.

Once all steps are completed, SBI will verify your application. Upon approval, the loan amount will be credited to your bank account.