SBI Personal Loan : Today, personal loans become a financial help for people in emergency situations. For this reason, people consider taking a personal loan to meet their financial needs. Currently, most of the banks in India provide personal loan facility to people.
SBI is also offering personal loans to its customers with attractive interest rates. SBI provides personal loan facility to its defense force customers with interest rates ranging from 11.15% to 12.65%. While government employees are getting personal loans at interest rates ranging from 11.30% to 13.80%.
While people with salary account in SBI Bank are allowed to take personal loan at 11.65% interest rate instead of 11.15% interest rate. It also depends on your credit score at which interest rate you will be given the loan. If your credit score is low, the interest rate will be higher.
When your credit score is 750 or above, you will get a personal loan at a cheap interest rate. So, we have stated here that if you currently take a personal loan of Rs 3 lakh for 3 years from SBI, what will be your monthly EMI?
Monthly EMI: For 3 years Rs. 3 lakh SBI Personal Loan
If you take a personal loan of Rs 3 lakh at an interest rate of 11.15% for the next 3 years, you will have to pay Rs 9843 as a monthly EMI. While the interest amount on a loan of 3 lakh rupees will be 54,346 rupees.
SBI Personal Loan of 10 lakh rupees for 5 years
Apart from this, if you want a personal loan of Rs 10 lakh for 5 years at 11.15% interest rate, your monthly EMI will be Rs 21,817. You have to pay a total of Rs 3,09,038 as interest for this period.