What it costs a month at both ends of the published range. State Bank of India is a PSU bank, and the two rates below are the floor and the ceiling it publishes for its personal loan.
What it costs per month
On ₹5,00,000 over 5 years.
| Rate | EMI | Total interest |
|---|---|---|
| 10.00% | ₹10,624 | ₹1,37,411 |
| 15.00% | ₹11,895 | ₹2,13,698 |
Principal and interest only. The processing fee, GST, documentation and any insurance sold alongside the loan are additional. For a different amount or tenure, run it through the EMI calculator.
The gap between those two rows is ₹76,287 of interest on the same ₹5,00,000. The advertised 10.00% is a floor, not an offer, and where you land is decided at underwriting — which is why improving your credit score before you apply is worth more here than shopping the headline rate.
How it compares
Joint 5th cheapest of the 8 providers we track, 0.01% above Axis Bank, HDFC Bank, ICICI Bank and IDFC First Bank at 9.99%. The full State Bank of India personal loan detail carries the fees, and every lender we track is ranked on the personal loan interest rates table.
Terms change without notice. Confirm the current figures with State Bank of India before you act.
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