Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
FacilityUnsecured term loan on daily reducing balance or overdraft with reducing drawing power; no guarantor
Source 1Employment and relationshipIndian-national government, defence or eligible corporate employees with an SBI Salary Package Account and an acceptable credit score
Source 2Published age21 to 60 years; serving government or defence employees above 60 may be considered case by case
Source 3Minimum net monthly salary₹20,000 for government or defence employees; ₹25,000 for corporate employees
Source 4Loan amount₹1 lakh to ₹50 lakh, capped at the lower of 30 times net monthly income or the amount meeting an EMI/
Source 5Published starting rateStarting from 10.00% p.a.; final rate is applicant-specific and subject to the linked current rate schedule
Source 6Repayment period6 to 84 months, closing by retirement, contract end or age 60 as applicable
Source 7Processing feeUp to 1.50% of loan amount, minimum ₹1,000 and maximum ₹15,000, plus GST; published category and credit-score waivers may apply
Source 8Published default charges2.40% p.a. on the irregular portion up to 60 days; 5% p.a. thereafter under the page's stated conditions
Source 9Benefits and features
- No collateral or guarantor
- Term-loan and overdraft choices
- Borrowing up to ₹50 lakh subject to appraisal
- Tenure up to 84 months
- Digital document execution
- Published processing-fee concessions for qualifying customers
Eligibility
- An SBI Salary Package Account is mandatory under the published eligibility.
- Government/
defence employees need at least six months' service; corporate employees need twelve months. - The loan amount, rate and tenor remain subject to income, EMI/NMI, credit and retirement or contract-end limits.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- PAN
- Six months' salary slips
- Employer identity card, service certificate, contract letter or other accepted employment proof
- Latest ITR or Form 16 where applicable
- Six months' salary-account statements
- Updated KYC documents where SBI records require them