SBI Personal Loan: have become one of the most popular ways to manage big expenses, whether it’s funding a wedding, higher education, medical emergencies, or even home renovations. If you are planning to take a ₹35 lakh personal loan from SBI (State Bank of India), understanding your EMI (Equated Monthly Installment) and the salary requirement is crucial. In this blog, we’ll break down everything you need to know about SBI personal loan eligibility, EMI calculation, interest rates, and repayment options.
Why Choose SBI Personal Loan?
SBI is one of India’s largest and most trusted banks, offering competitive interest rates, flexible repayment options, and quick loan disbursals. Here are some key reasons why borrowers prefer SBI personal loans:
- Attractive Interest Rates – SBI offers lower interest rates compared to many private banks.
- Flexible Repayment Tenure – Ranges from 12 months to 84 months.
- Minimal Documentation – Quick approvals with simple paperwork.
- High Loan Amount – Loans up to ₹35 lakh (or even higher in some cases).
- No Hidden Charges – Transparent terms and conditions.
EMI for ₹35 Lakh SBI Personal Loan
Your EMI depends on three major factors:
- Loan amount (₹35,00,000)
- Rate of interest (varies between 10% – 16% p.a.)
- Loan tenure (up to 7 years)
Using an SBI Personal Loan EMI Calculator, you can instantly check how much EMI you will pay each month. For example:
- At 11% interest for 5 years, the EMI will be higher but the total interest paid will be lower.
- At 11% interest for 7 years, the EMI will be smaller but you will pay more total interest.
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Minimum Salary Requirement for ₹35 Lakh Loan
SBI generally requires your monthly income to be sufficient to cover EMIs without financial stress. As a thumb rule:
- The EMI should not exceed 40-50% of your monthly salary.
- For a ₹35 lakh loan, depending on tenure and interest, you may need a monthly salary of ₹1.2 lakh to ₹1.5 lakh or more.
Salaried professionals with stable jobs and government employees have higher approval chances.
SBI Personal Loan Eligibility
To qualify for a ₹35 lakh loan, you must meet certain conditions:
- Age: 21 – 58 years for salaried applicants
- Employment: Salaried with government, PSU, or reputed private company
- Minimum Salary: ₹15,000 per month (but for ₹35 lakh, higher income required)
- Credit Score: Preferably above 750
- Work Experience: Minimum 2 years of total experience and 1 year with current employer
Documents Required
To apply for an SBI personal loan, you will need:
- Identity Proof (Aadhar, PAN, Passport)
- Address Proof (Utility bills, Passport, Aadhar)
- Salary Slips (last 3 months)
- Bank Statements (last 6 months)
- Employment Certificate (if required)
How to Apply for SBI Personal Loan Online
- Visit the SBI official website or use the YONO SBI app.
- Select Personal Loan and enter your details.
- Use the SBI Personal Loan EMI Calculator to check affordability.
- Upload necessary documents.
- Get instant approval and loan disbursal within hours.
SBI Personal Loan EMI Calculator
Using the SBI EMI calculator, you can:
- Enter loan amount (₹35 lakh)
- Choose tenure (up to 7 years)
- Select interest rate (10% – 16%)
- Instantly get EMI details
This helps you plan your finances better and avoid loan default.
Final Thoughts
A ₹35 lakh SBI personal loan can be a great option for big financial needs. Before applying, always use the SBI EMI Calculator to understand repayment obligations. Also, ensure your salary is sufficient to manage monthly EMIs comfortably. With competitive rates, flexible tenure, and simple documentation, SBI remains one of the top choices for personal loans in India.
FAQs
Q1. Can I get a ₹35 lakh personal loan from SBI?
Yes, if your salary and credit profile meet SBI’s eligibility, you can get a personal loan of up to ₹35 lakh.
Q2. What is the minimum salary for a ₹35 lakh SBI loan?
You may need at least ₹1.2 lakh – ₹1.5 lakh per month salary, depending on tenure and EMI burden.
Q3. What is the maximum tenure for SBI personal loans?
Up to 7 years (84 months).
Q4. Can I apply for an SBI personal loan online?
Yes, through the SBI website or YONO SBI app, you can apply and track your loan status online.
Q5. Will my credit score affect my SBI loan approval?
Yes, a credit score above 750 improves your chances of approval and getting lower interest rates.
Disclaimer: This article is for general information only. The interest rates and terms mentioned in it depend on the policies of the bank . These may change from time to time. Before taking any type of loan, get complete information from your bank.