SBI Personal Loan of 10000

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Written By
Hepson Franklin
Hepson Franklin
Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.
Reviewed By
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

SBI Personal Loan of ₹10,000 is an instant and collateral-free financing option. I.e., you can secure the necessary funds without pledging any of your assets as collateral. The bank also ensures that once you have submitted the loan application, the funds will hit your bank account within a day as well. Moreover, to apply for this borrower-friendly personal loan, you can typically opt for either online or offline methods, according to your preference.

Thus, Urban Money briefly overviews an instant ₹10,000 loan with SBI. We will primarily cover details including the ₹10,000 loan interest rate, eligibility criteria, required documents, and applicable fees. Furthermore, we will also provide a comparison of the SBI personal loan of ₹10,000 with offerings from other leading lenders in India. This ultimately empowers you can identify the best financing option that suits you well.

₹10000  Personal Loan SBI – Highlights

The following are the key parameters of an SBI personal loan of ₹10,000:

                                                                      Highlights
Interest Rates 10.55% p.a. onwards 
Processing Fees 1% of the loan amount plus applicable taxes
Loan Tenure Up to 5 years
Eligibility Both salaried and self-employed individuals are eligible 

₹10000 Personal Loan EMI for 1- 5 Years

Flowing is the estimated ₹10,000 personal loan EMI with SBI for varying tenures:

Loan Amount Interest Rate Loan Tenure EMI Amount Interest Payable Total Amount Payable
Rs 10,000 10.55% p.a. 1 year Rs 882 Rs 584 Rs 10,584
Rs 10,000 10.55% p.a. 2 years Rs 464 Rs 1,136 Rs 11,136
Rs 10,000 10.55% p.a. 3 years Rs 325 Rs 1,700 Rs 11,700
Rs 10,000 10.55% p.a. 4 years Rs 256 Rs 2,288 Rs 12,288
Rs 10,000 10.55% p.a. 5 years Rs 215 Rs 2,900 Rs 12,900

Compare ₹10000 Personal Loan From Other Banks & NBFCs

Following is the comparison of an SBI personal loan of ₹10,000 with other leading banks and NBFCs in India:

Lender Interest Rate (p.a.) Processing Fee Tenure
State Bank of India 10.55% onwards 1% of the loan amount 1 to 5 years
Axis Bank 10.49% onwards Up to 2% of the loan amount 1 to 5 years
IDFC First Bank 10.49% onwards Up to 3.49% of the loan amount 1 to 5 years
IndusInd Bank 10.49% onwards Up to 2.5% of the loan amount 1 to 5 years
HDFC Bank 10.50% onwards  Up to Rs 4999 1 to 5 years
ICICI Bank 10.50% onwards  Up to 2.50% of the loan amount 1 to 6 years
Kotak Mahindra Bank 10.99% onwards Up to 3% of the loan amount 1 to 5 years
Bajaj Finserv 11.00% onwards Up to 3.93% of the loan amount 1 to 8 years
Federal Bank 10.49% onwards Up to 3% of the loan amount 1 to 5 years
Punjab National Bank 11.75% onwards 1% of the loan amount 1 to 6 years

₹10000 SBI Home Loan – Fees and Charges

Let’s take a look at the applicable fees and charges for an SBI personal loan of ₹10,000:

Fee/Charge Amount
Processing Fee 1% of the loan amount plus applicable taxes
Prepayment Charges 3% on your prepaid amount
Late Payment Charges 2% per annum, above the applicable interest rate.
Cheque/ECS/NACH dishonour Charges Rs 250
Professional charges (Advocate Charges/Retainer ship Charges) At Actuals

₹10000 SBI Home Loan – Documents Required

The following are the ₹10,000 personal loan documents in SBI:

Proof of Identity: PAN Card, Passport, Voter ID or Driving License.

Proof of Address: Aadhaar Card, Passport, Driving License, or Utility Bills.

Proof of Income: Bank statement showing the credit of your salary/income.

Proof of Employee: Latest salary slips.

₹10000 SBI Home Loan – Eligibility Criteria

The following are the ₹10,000 personal loan eligibility in SBI:

  • You must be aged between 21 and 58 years
  • You must have a regular source of income that covers the EMIs 
  • You must have a good credit score and repayment history.
  • You must be an Indian citizen

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