State Bank of India Personal Loan interest rates · November 2026
Your personal loan at SBI.
Choose a scheme. Understand the rate. Explore your repayment.
What would I pay each month?
See scheme conditions Scheme selected for illustration. Check eligibility with the bank.
About you
SBI's published personal loan rates are the same whatever your credit score, income, gender or employer, so there's nothing to ask. Where you land inside a scheme's range is up to the bank.
At 10.00%, you repay ₹6.37 lakh: ₹5 lakh borrowed and ₹1.37 lakh interest.
From the first year, most of each EMI repays the loan.
Every 0.25% off the rate saves about ₹61 a month. Worth asking for.
Range estimate, not your approved offer. Excludes fees. Assumes the rate stays unchanged.
Scheme conditions & source
Understand this scheme
- Published rate
- 10.00%–15.00% p.a.
- Rate type
- Floating
- Pricing published as
- 2-year MCLR + 1.25% to 6.25%
- Benchmark
- 2-year MCLR today: 8.90%
- Who it's for
- As the bank's conditions say
What still needs confirming
- Your eligible rate and the scheme's conditions
- Processing fees and other charges
- How often the rate resets, and to what
Effective 15 Dec 2025 · checked 15 Nov 2026
Compare SBI's personal loan schemes
SBI publishes one personal loan scheme we can read.
| Scheme | Published rate | EMI range* | Choose |
|---|---|---|---|
| SBI Personal Loan | 10.00%–15.00% | ₹10,624–₹11,895 | Selected |
*₹5 lakh over 5 years, before fees. Scheme names follow the bank's published wording.
How SBI compares
Each bank's lowest published rate, and what the same loan would cost a month there. Before charges.
The rates SBI's loans are linked to
A floating loan's rate is one of these plus a spread fixed when you borrow. When it moves, your EMI or your term moves at the next reset.
MCLR by reset period · from 15 Nov 2026
| Reset period | Compared | MCLR |
|---|---|---|
| Overnight | 7.85% | |
| 1 month | 7.85% | |
| 3 months | 8.40% | |
| 6 months | 8.75% | |
| 1 year | 8.85% | |
| 2 years | 8.90% | |
| 3 years | 8.95% |
A loan on MCLR resets at the end of its period, most often one year, to the MCLR then plus its spread. If yours is still on MCLR, you can ask to move it to the repo-linked rate.
Official Checked 15 Nov 2026 · Bank's page 1 · Bank's page 2
SBI personal loan: questions borrowers ask
What is the SBI personal loan interest rate?
As of 15 Nov 2026, State Bank of India publishes personal loan rates of 10.00% to 15.00% a year (floating). The lowest, 10.00%, is for: . The rate you are offered depends on your credit score, income and the loan amount.
What is the EMI on a ₹5 lakh personal loan from SBI?
At SBI's lowest published rate of 10.00%, a ₹5 lakh personal loan over 5 years costs about ₹10,624 a month, or ₹1,37,411 in interest over the loan. Charges and insurance are extra.
Are SBI loans linked to the repo rate?
State Bank of India's repo-linked lending rate (EBLR) is 8.15% from 15 Oct 2026. Floating retail loans are priced from it, plus a spread fixed when you borrow.
What is SBI's MCLR?
State Bank of India's 1-year MCLR is 8.85%, effective 15 Nov 2026. Loans taken between 2016 and 2019 and many business loans are linked to it.
Is SBI cheaper than other banks for a personal loan?
Of the 7 banks we read for personal loans, SBI's lowest published rate (10.00%) ranks first, the lowest. Compare the charges as well as the rate.
Does RateScan get paid by SBI?
No. We take no referral fees, show no ads and don't take loan applications. Every figure is read from the bank's own page, which is linked from every scheme.
How we collect loan rates
From the bank's own pages. Every figure is read from the lending-rate page the bank publishes, and links back to it. Benchmarks are re-read every day.
A published rate is not an offer. Banks set your rate from your credit score, income, the loan amount and the property or vehicle. We show the range the bank publishes; "7.60% onwards" means the bank gave no top figure.
Benchmark plus spread. A floating loan's rate is the bank's benchmark (its repo-linked rate, or MCLR for older loans) plus a spread fixed when you borrow. When the benchmark moves, your rate moves with it at the next reset.
The EMI is worked out on a reducing balance with monthly instalments: EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where r is the yearly rate ÷ 12 and n the number of months. It leaves out processing charges and insurance.
No referral fees. We don't take loan applications or get paid by lenders, so the order is the order.
Independent. No referral fees. Official sources.
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