State Bank of India is an Indian multinational, Public Sector banking and financial services company. It is a government-owned corporation established on 27 January 1921.

Personal Loan

The loan will be granted for any legitimate purpose whatsoever
e.g.

Expenses for Domestic Orforeign travel
Medical treatment of self or a family member
Meeting any financial liability
Marriage of son/daughter,
Defraying educational expenses of wards
Meeting margins for purchase of assets etc

Eligibility

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.

Loan Amount

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

Minimum :

Rs.24,000/- in metro and urban centres
Rs.10,000/- in rural/semi-urban centres

Maximum :

12 times Net Monthly Income for salaried individuals and pensioners subject to a ceiling of Rs.10 lacs in all centres

Documents Required

Important documents to be furnished while opening a Personal Loan Account:

Latest salary slip and Form 16
Passport size photograph
for existing bank customers
From salaried individuals

Margin : they do not insist on any margin amount.
Repayment

The loan is repayable in 48 EMI.

Processing Fees :

Processing charges are 2.02%-3.03% of the loan amount.