SBI 5 Lakh Rupees Loan Scheme 2023: If you are in an emergency and want to get an instant loan to overcome your emergency then you can check the personal loan scheme. State Bank of India is providing the facility of SBI personal loans for emergencies for their customers. It can be asked for multiple purposes including medical expenditure, educational purposes, home decoration, and repair, attending a marriage function, etc. Today we will discuss the complete information of the SBI personal loan scheme in this article where you can get a maximum of 5 lakh rupees in SBI Bank. So check the eligibility criteria, important documents for the SBI 5 lakh rupees scheme, and application procedure to apply online
State Bank of India is one of the oldest bank in India and have branches in every corner in the village of India. If you are also an existing customer of SBI then you can take the benefit of the SBI personal loan scheme. There are multiple schemes of personal loan SBI for salaried persons, pensioners, government servants, account holders in SBI, personal loans for defense persons, etc. So anyone according to their category can apply for a personal loan in SBI. General customers can get a maximum of 5 lakh rupees instant loans in SBI where the interest rates for SBI personal loans are starting from 10.55%. So if you are comfortable with this scheme of SBI then you can apply for a personal loan according to your needs.
Important eligibility for SBI 5 Lakh Rupees Loan Scheme 2023
- Only Indian citizens can apply for this SBI 5 Lakh Rupees Loan Scheme 2023.
- Existing customers of SBI including those having a salary account or savings account in SBI for a pension account can apply. However, if you are a salaried person then you can also apply in case you have your bank account in another bank.
- The minimum age of the applicants should be 18 years. however, if the age is more than 21 then it is easier to get a personal loan in SBI
- Applicant should have a good CIBIL score of more than 750 to apply for a personal loan
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Important documents for SBI emergency loan
The following documents are important for applicants who want to apply offline in physical mode for an SBI personal loan. If you are going to apply physically then you should carry the original as well as photocopies of the document. But if you want to apply online mode then you have to carry the scanned copy of the following documents:
- Aadhar card
- The PAN card of the applicant
- Bank account details
- Salary slip ( if applicable)
- Address proof
- Bank statement ( if required)
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Online application procedure in SBI for personal loan
As mentioned SBI is providing personal loans to multiple customers according to their category, so you have to follow the following procedure in your particular category to apply for SBI personal loan. But if you are not lying in any category but have a savings account in SBI then you can follow the same procedure:
- Visit the official website of the State Bank of India or you can click on this link to visit directly https://sbi.co.in/
- You can see the link of the loan on this website where you have to select the personal loan section.
- You will be redirected to a new page where you have to select any loan option according to your category. If you do not belong to any category mentioned in SBI then you can click on the pre-approved personal loan link
- Now select the login link and Enter the user ID and password that you have created at the time of generating the online Internet banking facility. If you do not enable your internet banking facility in SBI then you cannot apply for a personal loan through online mode.
- Now the SBI 5 Lakh Rupees Loan Scheme 2023 application form for personal loan will automatically appear on your screen where you have to enter your personal details and the loan amount that you want to get.
- Select the repayment option and click on the submit link after uploading your all documents and information.
Once you have submitted your all the details you will receive the loan amount in your bank instantly after getting verified by the employees of SBI.