State Bank of India offers personal loans through his 3000 branches.

Advantages Of SBI Personal loans
· Low interest rates. They charge interest on a daily reducing balance!!

· Low processing charges; only 1%-2% of loan amount

· No hidden costs or administrative charges.

· No security required ……which means minimal documentation…something that you had always wanted.

· No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan (1% of the loan amount will be charged if you repay the loan before 6 months)

· Long repayment period of up to 48 months.

Who all can take this Loan?
Salaried individual of good quality corporate, self employed engineer, doctor, architect, chartered accountant, MBA with minimum 2 years standing. These are the broad categories of people who can take Sbi persoal loan.

Minimum Income required for this SBI Personal loans?
Rs.24,000/- in metro and urban centres
Rs.10,000/- in rural/semi-urban centres

How much Personal loan amount you can get ?
12 times Net Monthly Income for salaried individual.
The Max loan amount is Rs 10 lakh

Documents required for taking SBI Personal loan?
For salaried individuals
Latest salary slip and Form 16.

What is the rate of interest for SBI Personal loans?
4.00% above SBAR FLoating i.e. 16.75% p.a.(As on 12.07.08- Infor mation from SBI Website)

Processing Fee
1-2% of loan amount.

Prepayement charges
Nil