SBI Personal Loan of 6 Lakh

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The SBI Personal Loan of ₹6 lakh is a collateral-free financing option. This means you can borrow money without pledging any property, gold, or other assets as security. Many borrowers take a 6 Lakh Personal Loan for expenses such as medical emergencies, weddings, travel, or home repairs. SBI also offers relatively quick processing, and eligible applicants may receive the funds within a couple of working days.

The SBI Personal Loan Interest Rate, repayment tenure, documentation requirements, and expected EMIs will affect your overall repayment plan. Reviewing these details in advance can help you choose the right tenure and manage your finances better.

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6 Lakh State Bank Of India Personal Loan EMI Calculator

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  • 50 K
  • 1 Cr
Years
  • 1
  • 5
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Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹6,00,000

Interest Payable

Total Amount Payable

Written By
Abigail Simmons
Abigail Simmons
Driven by a curiosity for how everyday decisions shape our financial journeys, Abigail turns complex money matters into clear, engaging stories. She helps readers understand financial trends, whether it’s credit, loans, or smart money habits. When she is not decoding RBI updates or tracking industry shifts, she’ll be comparing savings hacks or just taking a long walk.
Reviewed By
Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Last Updated: 19 March 2026

What are the Features of an SBI’s ₹6 Lakh Personal Loan?

Before applying for an SBI personal loan of 6 lakh, it helps to look at the loan terms.

Highlights Details
Interest Rates 11.15% – 15.30%
Processing Fees 1.50% of the loan amount + GST (Min ₹1,000 / Max ₹15,000)
Loan Tenure 6 months to 6 years
Eligibility Salaried individuals (NMI ₹25,000+) or Pensioners

The monthly repayment depends mainly on the loan tenure you choose. Borrowers can estimate payments using an SBI Personal Loan EMI Calculator or a Personal Loan EMI Calculator before applying.

The following section shows EMI for a personal loan of 6 lakhs at an interest rate of 11.15% p.a., across different tenures.

EMI of ₹6 Lakh SBI Personal Loan for 1 Year

The table below shows the repayment breakdown for a loan repaid within 1 year.

Loan Amount Loan Tenure Rate of Interest (p.a) Monthly Loan EMI Interest Payable Total Amount Payable
₹6,00,000 1 Year 11.15% ₹53,071 ₹36,852 ₹6,36,852

EMI of ₹6 Lakh SBI Personal Loan for 2 Years

This example shows the estimated EMI for a 2-year repayment period.

Loan Amount Loan Tenure Rate of Interest (p.a) Monthly Loan EMI Interest Payable Total Amount Payable
₹6,00,000 2 Years 11.15% ₹28,007 ₹72,168 ₹6,72,168

EMI of ₹6 Lakh SBI Personal Loan for 3 Years

Many borrowers consider a 3-year tenure because it balances manageable EMIs with moderate interest costs.

Loan Amount Loan Tenure Rate of Interest (p.a) Monthly Loan EMI Interest Payable Total Amount Payable
₹6,00,000 3 Years 11.15% ₹19,687 ₹1,08,732 ₹7,08,732

EMI of ₹6 Lakh SBI Personal Loan for 4 Years

A 4-year tenure slightly reduces the monthly EMI but increases the total interest payable.

Loan Amount Loan Tenure Rate of Interest (p.a) Monthly Loan EMI Interest Payable Total Amount Payable
₹6,00,000 4 Years 11.15% ₹15,556 ₹1,46,688 ₹7,46,688

EMI of ₹6 Lakh SBI Personal Loan for 5 Years

Borrowers who prefer lower monthly payments often choose a longer repayment period.

Loan Amount Loan Tenure Rate of Interest (p.a) Monthly Loan EMI Interest Payable Total Amount Payable
₹6,00,000 5 Years 11.15% ₹13,090 ₹1,85,400 ₹7,85,400

Some lenders may also offer longer repayment options, such as a 6 lakh personal loan with a 6-year EMI, and in certain cases, NBFCs may extend it to 10 years, depending on eligibility.

What are the Fees & Charges of a ₹6 Lakh SBI Personal Loan?

Apart from interest, borrowers should also consider the additional charges associated with an SBI personal loan of 6 lakh.

Fee/Charge Amount
Processing Fee 1.50% of the loan amount + GST
Prepayment Charges Nil (for floating rates) or 3% (for fixed rates)
Late Payment Charges 2% per month above the applicable rate
Dishonour Charges ₹250 (Cheque/ECS/NACH)
Legal/Professional At Actuals

Borrowers can estimate the impact of early repayment using a Personal Loan Prepayment Calculator before deciding to close the loan early.

Comparison of ₹6 Lakh Personal Loan With Other Banks

Comparing lenders can help you understand how different banks price a personal loan of 6 lakhs.

Lender Interest Rate (p.a.) Processing Fee Tenure
State Bank of India 11.15% onwards 1.50% (Max ₹15,000) Up to 6 years
HDFC Bank 10.50% onwards Up to ₹4,999 Up to 5 years
ICICI Bank 10.60% onwards Up to 2.50% Up to 6 years
Axis Bank 10.49% onwards Up to 2% Up to 5 years
Punjab National Bank 11.75% onwards 1% of loan amount Up to 6 years

Interest rates, processing fees, and eligibility conditions can vary between lenders, so comparing options before applying is always a good idea.

What are the Documents Required for a ₹6 Lakh SBI Personal Loan?

If you plan to apply for an SBI personal loan of 6 lakh, keeping the required documents ready can help speed up the process.

  • Proof of Identity: PAN Card (Mandatory), Aadhaar, or Voter ID.
  • Proof of Address: Aadhaar Card, Passport, or recent utility bills.
  • Proof of Income: Bank statements for the last 6 months showing salary credits.
  • Proof of Employment: Latest 3 months’ salary slips and employer ID card.

What are the Eligibility Criteria for a ₹6 Lakh SBI Personal Loan?

Before applying, it is useful to check the bank’s eligibility requirements for an SBI personal loan of ₹6 Lakh.

  • Age Requirement: Applicants should be between 21 and 58 years old. Pensioners may be eligible up to the age of 76, depending on the scheme.
  • Income: Most salaried applicants need a minimum monthly income of ₹25,000.
  • Creditworthiness: A CIBIL score of 750 or above improves approval chances and may help secure a better personal loan interest rate.
  • Nationality: Applicants should be Indian citizens.

Using a personal loan eligibility calculator can help estimate the chances of approval.

How to Apply for an SBI ₹4 Lakh Personal Loan?

Borrowers can apply for an SBI ₹4 lakh personal loan through the Urban Money website:

  • Visit the official Urban Money website
  • Select “Personal Loan” under the loan category
  • Browse SBI’s ₹6 lakh personal loan options
  • Click “Enquire Now” for the preferred option
  • Enter basic details such as name, city, and mobile number
  • Verify identity using the OTP sent to the registered number
  • An Urban Money loan specialist will shortly contact you to guide the process until disbursal

Once approved, the loan amount is credited directly to your bank account.

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Frequently Asked Questions (FAQs)

How can I get a ₹6 lakh personal loan from SBI?

Borrowers can apply for a ₹6 lakh personal loan from SBI through the Urban Money website. The application process is straightforward and fully online.

What is the EMI for a ₹6 lakh SBI personal loan?

At an interest rate of 11.15%, the 6 lakh SBI personal loan EMI is about ₹19,687 for a 3-year tenure and roughly ₹13,090 for a 5-year tenure.

What interest rate does SBI charge for a ₹6 lakh personal loan?

The SBI personal loan interest rate for 6 lakhs starts from around 11.15% per year, depending on the borrower’s credit score, employment profile, and repayment capacity.

Who can apply for a ₹6 lakh SBI personal loan?

Any salaried Indian citizen who meets the age, income, and credit score requirements can apply for an SBI personal loan of 6 lakh. Self-employed individuals may also qualify under specific SBI loan schemes.

Can I repay the loan early?

Yes, as per RBI guidelines, floating-rate personal loans often allow early repayment without penalties. This means borrowers can reduce interest costs by paying off the loan sooner.

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