SBI Festival Loans | Interest Rates | Documents | EMI Calculator

State Bank of India Festival Loan Offers. Get details in Interest Rates, Eligibility, Documents, Loan Amount & Important Terms & Conditions Online.

Loan Amount – Your festival loan limit would be determined by your income and repayment capacity.

• Minimum : Rs.5000/-
• Maximum : 4 times your Net Monthly Income, subject to a ceiling of Rs.50,000/-.

Advantages of State Bank of India on Festive Loans:

• Low interest rates starts from 11.90% to 15.15%
• Low processing charges; 1% of loan amount(inclusive of service tax) per application.
• No hidden costs, No Pre payment Charges, No administrative charges.
• No security required if check off is available. Minimal documentation.
• Repayment period of upto 12 months.

Processing Fee: 1% of the loan amount + Applicable GST

Repayment: Maximum upto 12 months or 1 year.

Eligibility – You are eligible to avail a Festival Loan if you are:

• An Employee of Govt., PSUs, profit making public/private limited companies/ institutions etc with a minimum of 2 years service OR
• Self employed person with minimum 3 years standing/experience OR
• A person having regular source of income from verifiable channels like Pension and interest from TDRs/NSCs/Govt. Securities etc
• You have a net monthly income of Rs.3000/- and above.
• Your spouse’s income can also be considered in calculating the loan amount provided he/she guarantees the loan or the loan is taken jointly.
  

Documents Required for SBI Festive Loans

• Passport Size Photograph
• Proof of official address for self employed individuals and professionals. This can include shopand establishment certificate/Lease deed/Telephone Bill.

• Latest Salary Slip and Form 16, in the case of salaried persons IT returns for the last twofinancial years, in the case of self employed individuals and professionals