SBI Personal Loan of 5 Lakh

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An SBI personal loan of 5 lakh helps individuals meet personal financial needs without offering any security. The loan can be used for expenses such as medical bills, travel, or urgent household needs. A 5 lakh personal loan from SBI offers flexible repayment options, simple documentation and competitive interest rates, making it a reliable option for eligible salaried and self-employed borrowers.

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End-user (customer)hereby consents to Loantap financial technology being appointed as your authorized representative to receive your Credit Information from Equifax on an ongoing basis until the purpose of Credit Risk Assessment. is satisfied or the expiry of 6 months from the date the consent is collected; whichever is earlier.

This End User Agreement (the “Agreement” ) is made between you (the “User” or “You” ) and Urban Money Private Limited hereinafter referred to as “URBAN MONEY ”, a private limited company having its registered office at 1st Floor, Tower A, M3M Urbana Business Park, Sector 67, near M3M Urbana, Gurugram, Haryana 122001. (“Urban Money ”, “Us” or “We”, which term shall include its successors and permitted assigns). The User and URBAN MONEY shall be collectively referred to as the “Parties” and individually as a “Party”.

5 Lakh State Bank Of India Personal Loan EMI Calculator

₹
  • 50 K
  • 1 Cr
Years
  • 1
  • 5
%
  • 8
  • 25

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹5,00,000

Interest Payable

Total Amount Payable

Written By
Shubham Sandhu
Shubham Sandhu
Shubham is a finance writer specialising in home loans, investment advice, and personal money management. He explains financial matters clearly and straightforwardly, helping readers make better financial decisions. His aim is to make financial topics simple, practical, and easy to understand.
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.

Last Updated: 7 February 2026

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What is an SBI Personal Loan of 5 Lakh?

An SBI personal loan of 5 lakh is an unsecured loan provided by the State Bank of India to meet personal financial needs. It does not require any collateral and is offered to eligible applicants based on income and credit profile.

Key Points:

  • It is a collateral-free loan meant for personal expenses.
  • The loan amount can go up to ₹5 lakh.
  • Repayment is done through fixed monthly instalments.
  • Interest rates and tenure depend on eligibility and SBI guidelines.

5 Lakh SBI Personal Loan – Highlights

Here are the highlights for a 5 Lakh SBI Personal Loan:

Particulars Details
Loan amount Up to ₹5 lakh
Loan type Unsecured personal loan
Interest rate 10.05% – 15.05% per annum
Repayment tenure Up to 7 years
Processing fee Upto 1.50% (Min. ₹1000 – Max. ₹15,000) + GST
Collateral required No
Prepayment charges 2% of the loan amount (T&C apply)

Disclaimer: SBI personal loan interest rates & charges are subject to change and depend on the bank’s policy.

₹5 Lakh Personal Loan EMI for Up To 5 Years

The EMI distribution of ₹5 Lakh for 5 years is mentioned below in the table. The interest rate taken is 10.55%:

Year Principal Interest Total Payment Balance
1 ₹6,363 ₹4,396 ₹10,759 ₹4,93,637
2 ₹7,068 ₹3,691 ₹10,759 ₹4,12,772
3 ₹7,851 ₹2,908 ₹10,759 ₹3,22,950
4 ₹8,720 ₹2,039 ₹10,759 ₹2,23,181
5 ₹9,686 ₹1,073 ₹10,759 ₹1,12,362

Note: The figures mentioned above are for illustration only. The actual EMI and interest savings may vary based on the lender’s policies, the method used to calculate interest, and the way prepayments are adjusted. Use personal loan EMI calculator to get an estimate of the EMI’s.

Compare ₹5 Lakh Personal Loan From Other Banks & NBFCs

The table below shows the comparison of SBI personal loan interest rates, processing fees, and tenure with other banks and NBFCs:

Lender Interest Rate (p.a.) Processing Fee(Excluding Taxes)
State Bank of India 10.05% onwards 1% of the loan amount
IDFC First Bank 9.99% onwards 1.5% to 3% of the loan amount
Axis Bank 9.99% onwards Up to 2% of the loan amount
IndusInd Bank 10.49% onwards Up to 3.5% of the loan amount
Federal Bank 11.99% onwards Up to 2% of the loan amount
HDFC Bank 10.50% onwards Up to ₹6,500
ICICI Bank 10.45% onwards Up to 2% of the loan amount
Kotak Mahindra Bank 10.99% onwards Up to 5% of the loan amount
Bajaj Finserv 10.00% onwards Up to 3.93% of the loan amount

Disclaimer: Interest rates & charges are subject to change and depend on the bank’s policy.

What are the Fees & Charges of a 5 Lakh SBI Personal Loan?

Fees and charges for the SBI personal loan are mentioned below:

Fee/Charge Amount
Processing Fee 1% of the loan amount plus applicable taxes
Prepayment Charges 3% on your prepaid amount
Penal Interest 2% per month, above the applicable interest rate.
EMI Failure Charges ₹500/- + Taxes
Hidden Costs Zero

Disclaimer: Interest rates & charges are subject to change and depend on the bank’s policy.

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What are the Documents Required for an SBI Personal Loan?

Here are the documents required for an SBI ₹5 Lakh personal loan:

Document Type Requirement
Application form With photograph
PAN card Mandatory
Identity proof Any valid OVD
Salary slips Last 6 months
ITR or Form 16 If applicable
Salary statement Last 6 months

What are the Eligibility Criteria for an SBI Personal Loan?

Below are the eligibility criteria for an SBI personal loan of ₹5 Lakh:

  • The applicant must be an Indian citizen applying as an individual.
  • A salary package account should be maintained with SBI.
  • The eligible age range is 21 to 60 years.
  • Government and defence employees must have a minimum monthly income of ₹20,000.
  • Corporate sector employees should earn at least ₹25,000 per month.
  • A minimum of 6 months’ job experience is required for government or defence staff.
  • Corporate employees must have at least twelve months of work experience.
  • The applicant should be employed in the government, defence, or corporate sector.
  • A satisfactory credit score is necessary as per SBI lending norms.

How to Apply for an SBI Personal Loan of ₹5 Lakh Through Urban Money

Applying for an SBI personal loan of ₹5 lakh through Urban Money is simple. Here are the steps that you have to follow:

  • Open Urban Money and go to the SBI personal loan page.
  • Enter your city and select your company name if asked.
  • Choose the loan amount as ₹5,00,000.
  • Enter your basic details, such as name, mobile number, and email ID.
  • Enter your monthly salary and employment details.
  • Submit the form and give consent for the required verification.
  • After submission, you will receive a call or message from the Urban Money team with further instructions.

Get Rs. 5 Lakh Personal Loan in Minutes

Apply online with quick approval, flexible tenure, and competitive interest rates.

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