Personal Loans for Salaried Professionals

Sbi personal loan schemes for salaried individuals, accessible via Loanpao, offer competitive rates starting at 9.25% p.a. With instant pre-approvals and flexible tenures, these loans cater to urban and semi-urban salaried professionals for expenses like medical emergencies, travel, or debt consolidation.

Why Choose SBI Personal Loans

Key reasons salaried individuals prefer SBI personal loans include:

  • Low Interest Rates: Starting at 9.25% p.a., linked to MCLR (9.05% as of March 2025).
  • High Loan Amounts: Up to ₹35 lakh for salaried employees with stable income.
  • Quick Processing: Instant pre-approval and disbursal within 24–48 hours via Loanpao.
  • No Collateral: Unsecured loans requiring no asset pledging.
  • Flexible Repayment: Tenures up to 7 years with no prepayment penalties.

SBI Personal Loan Schemes

SBI’s personal loan offerings for salaried individuals in 2025 include:

Scheme Purpose Loan Amount Tenure Interest Rate
SBI Xpress Credit Personal expenses ₹25,000–₹35 lakh Up to 7 years 9.25% p.a. onwards
SBI Quick Personal Loan Urgent needs ₹10,000–₹10 lakh Up to 5 years 9.50% p.a. onwards
SBI Pension Loan Pensioners’ expenses ₹25,000–₹14 lakh Up to 5 years 9.75% p.a. onwards
SBI Pre-Approved Personal Loan Instant credit for SBI customers ₹10,000–₹8 lakh Up to 4 years 9.30% p.a. onwards

Note: Rates are linked to MCLR (9.05% as of March 2025) and vary based on credit profile. Zero processing fees for pre-approved loans until June 30, 2026.

Eligibility for SBI Personal Loans

Key eligibility criteria for salaried individuals include:

  • Age: 21–60 years (up to 70 for pensioners).
  • Employment: Permanent employees in government, PSUs, or reputed private firms.
  • Income: Minimum monthly income of ₹25,000; ₹15,000 for pensioners.
  • Credit Score: Minimum CIBIL score of 650 or higher.
  • Work Experience: At least 1 year with the current employer.

Documents Required

Essential documents for personal loan applications:

  • Identity Proof: PAN, Aadhaar, Voter ID.
  • Address Proof: Aadhaar, Utility Bill, Rent Agreement.
  • Income Proof: Salary slips (3 months), Form 16, bank statements (6 months).
  • Employment Proof: Employer ID or appointment letter.
  • Photograph: One passport-sized photo.

How to Apply with Loanpao

Loanpao streamlines the personal loan application process for salaried individuals:

  1. Visit Loanpao’s platform and select personal loan options.
  2. Complete digital eligibility check using Aadhaar and PAN.
  3. Upload KYC, income, and employment documents via secure portal.
  4. Receive instant pre-approval; final disbursal within 24–48 hours.

Tip: Link your salary account on Loanpao for faster credit assessment and disbursal.

Benefits of SBI Personal Loans

Key advantages for salaried individuals include:

  • Instant Approvals: Pre-approval in minutes via Loanpao’s digital platform.
  • Competitive Rates: Starting at 9.25% p.a., among the lowest for salaried borrowers.
  • No Collateral: Unsecured loans with no asset requirement.
  • Flexible Tenure: Up to 7 years for Xpress Credit loans.
  • Seamless Experience: Fully digital application and tracking via Loanpao.

Frequently Asked Questions

Salaried individuals aged 21–60 (up to 70 for pensioners) with a minimum monthly income of ₹25,000 (₹15,000 for pensioners) and a CIBIL score of 650 or higher.

SBI offers up to ₹35 lakh under the Xpress Credit scheme for salaried individuals.

No, SBI personal loans for salaried individuals have no prepayment penalties.

Instant pre-approval via Loanpao; final disbursal within 24–48 hours post-document verification.