State Bank of India Personal loans

State Bank of India Personal Loans are totally flexible.State Bank of India Personal Loans are available for issues like purchase of consumer durables, assets, emergency medical needs, travel, home improvements, holidays, tax saving investments and higher education requirements. The novelty of the scheme is that no securities need to be pledged here.

State Bank of India Personal Loans come with minimal formalities. There are no hidden costs. The interest rates are attractive. Customers need to pay a one time processing fee for it, which is non-refundable in nature.

Customers can also avail of "Balance Transfer Program" from State Bank of India under the personal loan scheme.

Salaried individuals employed in a company's management cadre and aged between 25 years to 70 years can apply for State Bank of India Personal Loans. Self employed professionals like Doctors, Architects and CA's are also eligible for State Bank of India Personal Loans.

However, all State Bank of India Personal Loans are subject to approval by the bank. Based on the Bank's discretion the loan amount here normally varies from Rs. 25,000 to Rs. 10,00,000.

Apart from those mentioned in this article a host of other terms and conditions govern the different categories of loan from State Bank of India.