State Bank of India (SBI) personal loan schemes remain an attractive option for salaried and pensioners in July 2025. Interest rates start from 10.30% and go up to 15.30%. Know the loan terms and how to calculate loan EMI.
State Bank of India (SBI) is the largest public sector bank in the country and its personal loan schemes are very popular among the people in July 2025. SBI personal loan is an excellent option for salaried people and pensioners. Its biggest advantage is that its interest rates are more affordable than other banks. If you do a government job or have a good credit score, then you can get even cheaper rates.
What are the SBI personal loan interest rates in July 2025?
SBI’s personal loan interest rates currently start from 10.30% and go up to 15.30%. It depends on which scheme you are taking a loan in, what is your salary, which sector is the job (government/private) and what is your credit score.
SBI’s interest rates are based on the 2-year Marginal Cost Based Lending Rate (MCLR), which is 9.05% from March 2025. On this, SBI adds an extra 1.25% to 6.25% as per its scheme. This forms your final interest rate.
What is the processing fee and other charges?
Processing fee: 1% to 1.5% of the loan amount, minimum ₹ 1,000 and maximum ₹ 15,000 (GST extra)
Pre-payment charge: If you have taken a loan at a fixed rate and want to repay it before time, the bank can charge up to 3%.
Penalty on late EMI: If EMI is not paid on time, a late charge of 2% per month will be levied.
SBI’s different personal loan schemes and their rates
SBI divides its personal loan service into 4-5 different schemes so that different people can get loans according to their needs.
1. Xpress Elite (For Government/PSU/Defense employees)
If your salary comes in SBI and you are from government or defense sector, then you can get a loan at 11.45% to 11.95% interest.
2. Xpress Elite (For private employees)
If you work in a private company and salary comes in SBI account, then the interest rate can be between 11.60% to 14.10%.
3. Xpress Credit (For General Corporates)
For salaried people of corporate companies – the rates in this scheme can be from 12.60% to 14.60%.
4. Xpress Lite (For low salary/freshers)
The interest rates in this scheme range from 10.30% to 12.10%. This is for those who are in a new job or are working on a low salary.
SBI Pension Loan – Facility for pensioners too
1. Pension Loan (Government / PSU Pensioners) – Interest Rate: 11.15%–11.65%
2. Jai Jawan Pension Loan (Defense Pensioners) – Interest Rate: 11.15%
3. Pre-Approved Pension Loan (SBI Customers) – Interest Rate: 11.15%
The processing fee in these schemes is low and the documentation is also easy.
How to calculate EMI?
Your loan EMI depends on the amount you have taken, what is the interest rate and what is the repayment period. The EMI calculator is available on the SBI website, from where you can estimate how much installment will have to be paid every month.
Which factors affect the interest rate?
- Credit score: If your score is 750 or above, you may get a lower interest rate.
- Job type: Government employees often get better rates.
- Salary: Your salary and income also affect the interest rate.
- Loan amount and tenure: Higher loan or longer tenure may increase the interest rate.
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