Quick answer: SBI's personal loan rate starts from 10.00% a year (October 2026), and most salaried borrowers are offered about 10% to 15%. On ₹5 lakh over 5 years, the EMI is ₹10,624 at 10% and ₹11,634 at 14%; with the 1.5% processing fee plus GST, the real annual cost at 10% is about 10.77%.
SBI's personal loan interest rate starts from 10.00% a year, according to SBI's personal loans page in October 2026. Your actual rate depends on three things: the scheme, your employer category (government, defence, PSU or private company) and your credit score. Most salaried borrowers are offered somewhere between about 10% and 15%. The processing fee is up to 1.5% of the loan amount, with a minimum of ₹1,000 and a maximum of ₹15,000, plus GST. Below are SBI's personal loan schemes, the EMI on common loan amounts at 10%, 12% and 14%, the real cost once the fee is included, and how to get a lower rate.
SBI personal loan at a glance (October 2026)
| Interest rate | From 10.00% p.a. (as displayed on SBI's personal loans page) |
|---|---|
| Pension loan | From 11.60% p.a. |
| Processing fee | Up to 1.5% of the loan amount, minimum ₹1,000, maximum ₹15,000, plus GST |
| Security | None (unsecured) |
| Interest method | Charged on the reducing balance |
| Ways to apply | Branch, SBI website, or the YONO app (pre-approved and Digi Personal Loan offers) |
SBI moved its website to sbi.bank.in. Rates are revised from time to time, so check the current rate on SBI's site, or with your branch, before you apply.
SBI personal loan schemes
| Scheme | Who it is for |
|---|---|
| SBI Personal Loan (Xpress Credit) | Salaried employees with a salary account at SBI; the best rates usually go to defence, government and PSU employees and select corporates |
| Pre-Approved Personal Loan | Existing SBI customers with an offer shown in YONO or internet banking; disbursed in a few clicks |
| Digi Personal Loan (Digi PL) | End-to-end digital loan for salaried customers through YONO and the web (formerly called Real-Time Xpress Credit) |
| Pension Loan | Pensioners drawing their pension through SBI |
Within each scheme, SBI sets the rate by employer category and credit profile, so two borrowers can get different rates on the same scheme. Your loan offer or sanction letter shows your exact rate.
SBI personal loan EMI at different rates
EMIs for a 5-year (60-month) loan:
| Loan amount | EMI at 10% | EMI at 12% | EMI at 14% | Total interest at 10% | Total interest at 14% |
|---|---|---|---|---|---|
| ₹1,00,000 | ₹2,125 | ₹2,224 | ₹2,327 | ₹27,482 | ₹39,610 |
| ₹3,00,000 | ₹6,374 | ₹6,673 | ₹6,980 | ₹82,447 | ₹1,18,829 |
| ₹5,00,000 | ₹10,624 | ₹11,122 | ₹11,634 | ₹1,37,411 | ₹1,98,048 |
| ₹10,00,000 | ₹21,247 | ₹22,244 | ₹23,268 | ₹2,74,823 | ₹3,96,095 |
A 4-point higher rate adds about ₹60,600 of interest on ₹5 lakh
Total interest on a ₹5 lakh loan over 5 years, by interest rate
Source: HR Calcy calculation using the standard reducing-balance EMI formula
On ₹5 lakh, the difference between 10% and 14% is about ₹1,000 a month, or ₹60,600 over five years. That is why the rate you qualify for matters more than which bank you pick.
Try your own amount and tenure in the personal loan calculator.
The real cost: add the processing fee
The interest rate is not the full cost. Take a ₹5 lakh loan over 5 years at 10%:
- Processing fee: 1.5% of ₹5 lakh is ₹7,500, plus 18% GST, so ₹8,850 in total.
- What you actually receive: about ₹4.91 lakh after the fee, but you repay the EMI on the full ₹5 lakh.
- Effective annual cost (APR): that works out to about 10.77%, not 10%.
Ask SBI for the Key Fact Statement (KFS). RBI requires lenders to give you a KFS showing the annual percentage rate and all charges before you sign. Compare APRs, not headline rates, when you compare lenders.
Is a personal loan the cheapest option?
Usually not. Personal loans are unsecured, so they cost more than secured loans. SBI's own published starting rates show the gap:
| SBI loan | Starting rate (October 2026) |
|---|---|
| Home loan | 7.50% p.a. (from 15 October 2026) |
| Gold loan | From 9.20% p.a. |
| Loan against mutual funds | 9.95% p.a. |
| Personal loan | From 10.00% p.a. |
| Pension loan | From 11.60% p.a. |
If you have gold, mutual funds or a home loan with top-up eligibility, a secured loan can cost less. The pledge vs hypothecation vs mortgage guide explains how each type of security works.
How to get a lower SBI personal loan rate
- Keep your salary account with SBI. The best rates go to salary-account holders, especially those whose employer has a salary package tie-up with SBI.
- Improve your credit score before applying. Pay every EMI and card bill on time, and keep credit card use well below your limit.
- Keep your existing EMIs low. Banks limit total EMIs to a share of your take-home pay. Closing a small loan first can improve both your eligibility and your rate.
- Check YONO for a pre-approved offer. It may come with a lower or waived processing fee.
- Borrow only what you need, for the shortest tenure you can afford. A shorter tenure means a higher EMI but much less total interest.
To see what different amounts and tenures cost, use the personal loan calculator. To check your actual take-home pay, use the in-hand salary calculator.
Documents usually required
- PAN and Aadhaar (or another officially valid document)
- Latest salary slips
- Bank statements, if your salary account is not with SBI
- Form 16 or income tax return, if the bank asks for it
Pre-approved and Digi Personal Loan offers in YONO often need no physical documents, because SBI already holds your data.
Frequently asked questions
What is the SBI personal loan interest rate in 2026?
It starts from 10.00% a year, as shown on SBI's personal loans page in October 2026. Your actual rate depends on the scheme, your employer category and your credit score.
What is the EMI for a ₹5 lakh SBI personal loan?
Over 5 years: about ₹10,624 at 10%, ₹11,122 at 12%, and ₹11,634 at 14%.
What is SBI's personal loan processing fee?
Up to 1.5% of the loan amount, with a minimum of ₹1,000 and a maximum of ₹15,000, plus GST. Pre-approved offers sometimes have a lower fee.
Is SBI's personal loan rate fixed or floating?
That depends on the scheme. The sanction letter and Key Fact Statement state whether your rate is fixed or linked to a benchmark. Read them before you sign.
Do I need an SBI salary account to get a personal loan?
SBI's main personal loan schemes are for salaried customers with a salary account at SBI, and they get the best rates. Pensioners can use SBI's pension loan.
How can I calculate my SBI personal loan EMI?
Enter the loan amount, interest rate and tenure in the personal loan calculator. The EMI formula is P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n is the number of months.
Rates as displayed by SBI in October 2026 and subject to change. EMIs are calculated by HR Calcy and rounded. This is general information, not financial advice.