SBI Personal Loan of 5000

The SBI personal loan of ₹5,000 is considered one of the most rapid and economical financing options available. Eligible applicants typically expect to have the funds in their bank account within a day. Moreover, as the SBI loan application process is now fully digitised/online, you are no longer required to visit the bank branches. Instead, you can simply apply and submit the necessary documents via smartphone. The application process only takes 10 minutes, making it a more borrower-friendly financing option. To know more, continue scrolling down. We will provide details such as the ₹5,000 loan interest rate, expected EMIs, eligibility criteria, required documents, applicable fees, and more.

Get in Touch for Personal Loan Expert Advice
Connect with our Personal Loan Advisor Now!
  • Personalized Personal Loan solutions
  • Expert guidance
  • Application assistance
  • Credit score discussion
  • Personal Loan Interest rate comparison
+91
Choose City

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.

₹5000 Personal Loan SBI – Highlights

Here are the key parameters of an SBI personal loan of ₹5,000:

                                                                      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 

₹5000 Personal Loan EMI for 1- 5 Years

Here is the estimated ₹5,000 personal loan EMI with SBI for varying tenures:

Loan Amount Interest Rate Loan Tenure EMI Amount Interest Payable Total Amount Payable
Rs 5,000 10.55% p.a. 1 year Rs 441 Rs 292 Rs 5,292
Rs 5,000 10.55% p.a. 2 years Rs 232 Rs 568 Rs 5,568
Rs 5,000 10.55% p.a. 3 years Rs 163 Rs 868 Rs 5,868
Rs 5,000 10.55% p.a. 4 years Rs 128 Rs 1,144 Rs 6,144
Rs 5,000 10.55% p.a. 5 years Rs 108 Rs 1,480 Rs 6,480

Compare ₹5000 Personal Loan From Other Banks & NBFCs

Following is the comparison of an SBI personal loan of ₹5,000 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
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
IndusInd Bank 10.49% onwards Up to 2.5% 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
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

₹5000 SBI Personal Loan – Fees and Charges

Following are the fees and charges in an SBI personal loan of ₹5,000:

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

₹5000 SBI Personal Loan – Documents Required

The following are the ₹5000 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.

₹5000 SBI Personal Loan – Eligibility Criteria

The following are the ₹5000 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.

Personal Loan By Banks

Urban Money