State Bank of India (loans): verified facts and rating
Licensed since: 1955 Checked 2026-10-31
Score breakdown
100% backed by facts · How we rank
State Bank of India (loans) against the market
The dot is the company, the line is the median of all companies in this ranking.
Published rate, % of country reference99%110%100% · median 100%
Support hours a week168 h168 h168 h · median 168 h
Maximum amount, % of country reference30%200%100% · median 100%
Longest term60 mo84 mo84 mo · median 84 mo
State Bank of India (loans) strengths and weaknesses
Pros
- Long licence history
- Licence confirmed by the official list or a stated licence number
- Fees or full loan terms are readable without login
- Publishes how to complain
Cons
- An arrangement fee can apply
- A charge can apply to early repayment
- Online application is not open to new customers
All facts
| Fact | Value | Source | Checked |
|---|---|---|---|
| Licensed since | 1955 An act was accordingly passed in Parliament in May 1955 and the State Bank of India was constituted on 1 July 1955. (год учреждения) | sbi.bank.in | 2026-10-31 |
| Licensed by the regulator | Yes List of Scheduled Commercial Banks (SCBs) · SBI & Nationalised Banks · 1. State Bank of India | rbi.org.in | 2026-10-31 |
| Published rate, % of country reference | 100% Low interest rates starting from 10.00%* · APR 10.00% · index 100 = 9.995% (median at launch) | sbi.bank.in | 2026-10-31 |
| Free early repayment | No Any prepayment of EMIs in full or in part and closure of account before the end of term will attract the prepayment charges of 2% of the prepaid amount | sbi.bank.in | 2026-10-31 |
| No arrangement fee | No Processing fee: Up to 1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-), plus GST. | sbi.bank.in | 2026-10-31 |
| Fees or terms published | Yes Most Important Terms and Conditions (Personal Loans): 3. RATE OF INTEREST; 10. PROCESSING FEES; 13. PRE-CLOSURE CHARGES | sbi.bank.in | 2026-10-31 |
| Complaints procedure | Yes Grievance Redressal and Escalation Mechanism - Customer Care; Level 2; Level 3; Level 4; CLICK HERE TO LODGE A COMPLAINT | sbi.bank.in | 2026-10-31 |
| Online application for new customers | No Loans to Salaried Employees having salary account with SBI; Employee should have Salary Package Account with SBI. | sbi.bank.in | 2026-10-31 |
| Support hours a week | 168 h SBI Contact Centre (i.e. SBI Helpline) serves you a bouquet of services round the clock in your preferred language*; Toll Free Number 18001234 | sbi.bank.in | 2026-10-31 |
| Maximum amount, % of country reference | 100% Maximum: ₹ 50 lakh, subject to EMI/NMI Ratio upto 65% & 30-times NMI, whichever is lower · max 5000000 INR · index 100 = 5000000 INR (median at launch) | sbi.bank.in | 2026-10-31 |
| Longest term | 84 mo Repayment period: Minimum : 6 months Maximum : Maximum 84 months. | sbi.bank.in | 2026-10-31 |
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