SBI personal loan interest rate and EMI calculator
State Bank of India gives personal loans at 10.00% to 15.00% a year. The average rate that it charged in Apr–Jun 2026 was 11.54%. The calculator starts at that average rate. It also shows the processing fee, the annual percentage rate (APR) and the foreclosure charge. Verification date: 27 Oct 2026.
SBI personal loan interest rate and charges
| Interest rate | 10.00% to 15.00% a year (2-year MCLR 8.75% + 1.25% to 6.25%, SBI Personal Loan scheme, w.e.f. 15 Dec 2025) |
| Average rate charged | 11.54% (Apr–Jun 2026) |
| Processing fee | 1.50% of the loan, minimum ₹1,000 and maximum ₹15,000 (Xpress Credit) + GST |
| Close early / part-payment | SBI's interest-rate and charges pages do not give a foreclosure charge for personal loans. Ask your branch before you prepay. |
SBI changed its 2-year MCLR from 8.75% to 8.90% on 15 October 2026. The SBI personal loan rate page continues to show 8.75% (last changed on 28 September 2026). Thus, a new loan can be 0.15% more than this table. Speak to your branch about the rate on the day of your loan.
SBI personal loan EMI table
EMI at 11.54% (the average rate that it charged in Apr–Jun 2026). Your EMI is lower if the lender gives you a lower rate.
| Loan | 1 yr | 2 yrs | 3 yrs | 4 yrs | 5 yrs |
|---|---|---|---|---|---|
| ₹1,00,000 | ₹8,863 | ₹4,686 | ₹3,300 | ₹2,611 | ₹2,201 |
| ₹2,00,000 | ₹17,727 | ₹9,372 | ₹6,599 | ₹5,222 | ₹4,403 |
| ₹3,00,000 | ₹26,590 | ₹14,058 | ₹9,899 | ₹7,833 | ₹6,604 |
| ₹5,00,000 | ₹44,317 | ₹23,429 | ₹16,498 | ₹13,054 | ₹11,006 |
| ₹10,00,000 | ₹88,634 | ₹46,859 | ₹32,995 | ₹26,109 | ₹22,013 |
| ₹15,00,000 | ₹1,32,951 | ₹70,288 | ₹49,493 | ₹39,163 | ₹33,019 |
| ₹20,00,000 | ₹1,77,267 | ₹93,718 | ₹65,990 | ₹52,217 | ₹44,025 |
Cost of the rate on ₹5 lakh for 5 years
APR includes the highest processing fee with GST. It shows the full cost of the loan for each year.
| Rate | EMI | Total interest | APR |
|---|---|---|---|
| Lowest rate (10.00%) | ₹10,624 | ₹1,37,411 | 10.77% |
| Average rate, Apr–Jun 2026 (11.54%) | ₹11,006 | ₹1,60,381 | 12.33% |
| Highest rate (15.00%) | ₹11,895 | ₹2,13,698 | 15.81% |
Foreclosure: cost to close the loan
5-year loan at 11.54%. The charge is on the balance that you repay, and you also pay GST.
| Loan | EMIs paid | Balance | Charge |
|---|---|---|---|
| ₹5,00,000 | 12 | ₹4,21,561 | Ask the lender |
| ₹5,00,000 | 24 | ₹3,33,576 | Ask the lender |
| ₹5,00,000 | 36 | ₹2,34,883 | Ask the lender |
| ₹10,00,000 | 12 | ₹8,43,122 | Ask the lender |
| ₹10,00,000 | 24 | ₹6,67,152 | Ask the lender |
| ₹10,00,000 | 36 | ₹4,69,765 | Ask the lender |
SBI and other lenders
The data comes from the site of each lender. If a lender shows the average rate that it charged, that rate is the most accurate guide to the rate that a usual borrower gets.
| Lender | Rate range | Average charged | Processing fee | Close early |
|---|---|---|---|---|
| State Bank of India | 10.00%–15.00% | 11.54% Apr–Jun 2026 | 1.50% (₹1,000–₹15,000) | Not on SBI's rate pages |
| HDFC Bank | 9.99%–24.00% | 10.89% Apr–Jun 2026 | Up to ₹6,500 | 4% / 3% / 2% (by EMIs paid) |
| ICICI Bank | 9.99%–16.50% | 11.60% Jul–Sep 2026 | Up to 2% | 3%; nil after 24 EMIs |
| Axis Bank | 9.99%–22.00% | 12.79% Jul–Sep 2026 | Up to 2% | 3% / 2%; nil for ₹10 lakh+ after 12 EMIs (own funds) |
| Bank of Baroda | 10.40%–18.05% | Not published | Up to 2% (₹1,000–₹10,000) | Nil (floating); fixed: ask |
| Punjab National Bank | 10.50%–16.05% | Not published | 1% + ₹270/₹450 documentation | Nil |
| Canara Bank | 9.95%–15.25% | Not published | 0.50% (₹1,000–₹5,000) | Nil |
| Bajaj Finance | 10.00%–30.50% | Not published | Up to 4.13% (incl. tax) | Up to 4.72% (incl. tax) |
Frequently asked questions
What is the SBI personal loan interest rate?
State Bank of India gives 10.00% to 15.00% a year (2-year MCLR 8.75% + 1.25% to 6.25%, SBI Personal Loan scheme, w.e.f. 15 Dec 2025). The average rate that it charged in Apr–Jun 2026 was 11.54%. The lender sets your rate from your income, employer, credit score and relationship with the lender.
What is the EMI for a ₹5 lakh SBI personal loan?
At 11.54%, the EMI is ₹11,006 for 5 years and ₹16,498 for 3 years. At the lowest rate of 10.00%, it is ₹10,624 for 5 years.
What is the processing fee for a SBI personal loan?
1.50% of the loan, minimum ₹1,000 and maximum ₹15,000 (Xpress Credit). You also pay GST at 18%. On a ₹5 lakh loan, the highest fee with GST is ₹8,850.
Can I prepay a SBI personal loan?
Yes. The SBI interest-rate and charges pages do not give a foreclosure or part-payment charge for personal loans. Thus, speak to your branch about the charge before you prepay. Your Key Facts Statement must show it.
Sources
- SBI: Personal Loans Schemes – interest rates (w.e.f. 15.12.2025, last changed on 28.09.2026). Read on 27 Oct 2026.
- SBI: Processing fees. Read on 27 Oct 2026.
- SBI: MCLR (changed on 15.10.2026). Read on 27 Oct 2026.
Lenders frequently change these rates. We examine them each month. Your sanction letter and Key Facts Statement show the rate and charges that you pay. Use the KFS / APR checker to examine them.