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SBI Personal Loan For Government Employees

Any individual may face a situation in his or her life when they are in need of urgent funds to fulfill their various needs. Among those individuals, Government Employees also hold a special place in our society. There are several banks and financial institutions that provide exclusive loans to such employees by giving the special treatment they deserve. State Bank of India (SBI) is undoubtedly one of the largest lenders of India. Among all the options, one of the most popular is the SBI Personal Loan for Government Employees. Any individual who is a government employee and having his or her Salary Account with SBI can easily go for this exclusive loan option. 

Due to its amazing products, SBI has this special place among customers and this personal loan for Government Employees is no less. The best thing about this personal loan is customers don’t need to pledge any kind of collateral or security against the loan amount. So, what are those features that make SBI personal loan for Government Employees as one of the best options? What is the maximum loan amount a customer can get? In this article, we will cover all such questions so that you can understand it better. So, without any further delay, let’s get to it.


Highlights of SBI Personal Loan for Government Employees


So, you must be thinking what are those features because of which so many customers opt for this facility? Well, we are showing some of them below. Please have a look.


  • This SBI Personal Loan for Government Employees can be given to only those individuals who have a Salary Account with the SBI. 

  • The best thing about it is you can opt for a loan amount for any of your needs whether it’s for education, marriage, vacation, or anything else. 

  • So, what is the maximum loan amount you can get? Well, SBI provides a maximum loan amount upto INR 20 lakh. But, the final loan amount will depend on several factors such as the monthly income, past credit behavior, etc. So, it may vary from one customer to another. 

  • You don’t need to provide either any kind of security or guarantor to get the loan amount. 

  • An individual should have a minimum monthly income of INR 15,000 to get this SBI Personal Loan for Government Employees. 

  • Now, the most important thing, to get this personal loan, the individual must have an EMI/NMI ratio of less than 50%. So what is this EMI/NMI ratio? Well, EMI stands for Equated Monthly Installments and NMI stands for Net Monthly Income. So, suppose your monthly income is 50,000, you cannot have an EMI more than INR 25,000. According to this, the lender will decide the final loan amount.

  • With the SBI Personal Loan for Government Employees, there are two types of Loan that can be availed by the customers. These are Term Loans Account and Overdraft Loans Account. 

  • With the Term Loan Amount, customers can get as low as INR 25,000 while the maximum can go upto INR 20 lakh or 24 times of NMI. 

  • With the Overdraft Loans Amount, the minimum loan amount is fixed at INR 5 lakh while the maximum will be the same as the Term Loan Amount. 

  • With the SBI Personal Loan for Government Employees, a customer can also get a second loan if he or she has been doing regular EMI repayments of the first loan.

  • You can also choose the repayment period according to your convenience. SBI provides tenure as short as 6 months and as long as 6 years to repay the loan via EMIs. 

  • The processing fee would be 1.50% of the overall loan amount that can go upto a maximum of INR 15,000 plus GST.
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