Features: The bank offers a personal loan called 'SBI SARAL PERSONAL LOAN' with interest calculated at a daily reducing balance. The loan can be used for any legitimate purpose such as expenses for domestic or foreign travel, medical treatment of self or a family member, meeting any financial liability such as marriage, defraying educational expenses, meeting margins for purchase of assets etc. The maximum loan amount is 12 times the net monthly income (subject to a maximum limit of Rs. 10 lakh), with a repayment period of up to 48 months.
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Details of Bank |
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SBI Bank (for Salaried) |
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Processing Fee: |
0.5%-2% of loan amount |
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Prepayment Charges: |
Nil |
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Guarantor: |
No |
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Collateral: |
No |
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SBI Bank (for Self Employed) |
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Processing Fee: |
0.5%-2% of loan amount |
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Prepayment Charges: |
Nil |
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Guarantor: |
No |
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Collateral: |
No |
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Personal Loan Comparator