One of the premier lenders in India’s credit space, State Bank of India (SBI) is on the path of customizing personal loan offers to tap into the needs of more clients. As you would know a personal loan helps one fulfill the wishes and meet the contingency needs to perfection. Keeping that in mind, SBI constantly improvises its product offerings while also making sure they remain affordable and convenient to the customers.
Talking of convenience, SBI wins points by allowing customers to apply online. Apart from the convenience, there are several other advantages associated with SBI Personal Loan Apply Online option. All that and more are explained in the article for you to check out. Let’s get started, folks.
Advantages of Personal Loan SBI Online Application
There are several benefits of an online application that you can see below.
Chance to Compare Offers – While applying online, you can look at the offers, compare them and choose the best one for you in terms of interest rates. SBI Personal Loan Interest Rates vary according to the profession and credit score of an individual. So, you can check those out.
Transparency – As the offers are shown online, you get to know the rates and other stuff while applying online. With the information being transparent, you are free from any false promises that can be made by a sales executive.
Ease of Application – The application can be made easily online by providing some personal and job-related details, far more convenient than standing in a long queue at the bank branch to do so. Also, you may not find time off from your busy schedule to apply at the bank branch, making the offline option a rather inconvenient one for you.
How to Apply for Personal Loan SBI Online?
You can apply online by visiting the official website of SBI and click on ‘Apply Now Online’. As soon as you do that, a form will appear on the screen asking you to provide a few details. You need to respond to the details sought before submitting the application. SBI would then check the details thoroughly before saying ‘Yes’ to your application.
SBI Personal Loan Application Form Download
There’s also an option to go both online and offline to apply. Yes, you can download Xpress Credit Application Form online and fill the details in the space prescribed. There would be space for photograph and signature as well. What you need to do then is to take a printout of the filled form and affix the recent photograph and signature at their respective space. Afterward, visit the nearest bank branch to submit the form. The bank will then do the customary job of investigating the details before okaying the application.
SBI Personal Loans for Govt Employees & Others
SBI offers personal loans to both central government and state government employees, along with the salaried working in private entities. The rates offered to these fall in the range of 10.65%-15.05% per annum. Your income, credit score and repayment potential would eventually lead to the rate you would be given to service the debt. These factors would also determine the loan amount you are eligible for.