Money superbazaar offers its readers complete information about State Bank of Pataila Personal Loan, subject to various SBP Personal Loan eligibility factors and SBP Personal Loan rate of charges and fees, including SBP Personal Loan interest rate. Information provided can be validated through bank website and SBP Personal Loan review, by market researchers on various loans available in the market. State Bank of Pataila Personal Loan is a general purpose loan, offered to persons, so that they can meet their various needs.

SBP Personal Loan Interest Rate:

SBP Personal Loan rate of interest is based on base rate on State Bank of Pataila Personal Loan is determined by bank that is currently at 8.50%

Hence, SBP Personal Loan interest rate is as follows:

SBP Personal Loan rate                          Check-off facility available

6.75% + base rate = 14.75%                       No

6.25% + base rate = 14.25%                      Yes

SBP Personal Loan Eligibility:

• Employees of government (state/central), PSUs, reputed profit-making companies, MNCs etc

These persons must have a minimum of 2 years’ experience.

• Self-employed / professionals, with minimum of 2 years’ standing
• Pensioners of government (state/central), PSU banks

Here, for persons to be eligible under SBP Personal Loan eligibility, they should have opted for VRS and should be less than 60 years or less.

• Agents of KVP/ mutual funds/ insurance etc, with a minimum of 3-5years’ standing, with their gross annual income amounting to at least Rs.2lacs.

Here again, for above agents to be eligible under SBP Personal Loan eligibility, they should be below 60 years of age.

A key feature according to SBP Personal Loan review is that SBP Personal Loan interest rate does not fluctuate, no matter what loan-seeker’s professional profile happens to be.

• Minimum monthly salary for pensioners is Rs 6000 p.m.
• Minimum monthly salary for professionals / self-employed should be Rs.60, 000 p.m. according to last year’s ITR filed.

Quantum Of SBP Personal Loan:

Minimum loan amount is of Rs. 25, 000 and a maximum of Rs.7.5 lacs. Maximum loan amount to lenders from Mumbai, Delhi, Chennai, Kolkata and Hyderabad is Rs.10lacs

For individuals who have taken VRS, maximum loan amount that can be sanctioned is Rs.1.5lacs

Procedure To Be Followed While Applying For State Bank Of Pataila Personal Loan:

Persons can download loan application form from link given below, on bank website. This form needs to be filled and submitted, along with following documents:

• Salaried Borrowers:

a.    Latest salary slip and Form16

b.    Letter of authority from employer for undertaking check-off facility

c.    Letter of authority from employee authorizing his/her employer to deduct amount of EMI from monthly salary          

• Self-employed / Professionals:

a.    ITRs for last two financial years

b.    Proof of office address

c.    Proof of professional qualification

 SBP Personal Loan review states that at the time of loan-sanction, a one-time processing fee, that stands at 1% (plus service tax), needs to be paid.

Tenure Of State Bank Of Pataila Personal Loan:

Borrowers of SBP Personal Loan can repay loan amount over a period of 60 months or 5 years.

Repayment Options Through Which Borrowers Of SBP Personal Loan Can Dispense Of Amount:

Loan-seekers have the option of repaying through PDC or ECS of equated monthly installments, calculated on SBP Personal Loan rate, as per their convenience.

Pre-Closure Of SBP Personal Loan:

According to SBP Personal Loan review, no pre-closure charge is levied in case borrower of loan opts for pre-payment of loan.

Product Page Url: For more information visit

http://www.sbp.co.in/personal-banking/personal-loan.htm

Branch Office Address (In Table)