State Bank of India has hiked its base rate and Benchmark Prime Lending Rate (BPLR) on loans effective from March 15, 2023.
Get to know about SBI base rate
SBI base rate has been hiked to 10.10% from 9.40%, an increase of 70 basis points.
SBI MCLR
SBI marginal cost of lending rates remain unchanged. The overnight MCLR rate is 7.90%, while that of one month tenure is 8.10%. The three-month MCLR is 8.10% Among others, the six-month MCLR stands at 8.40% and 8.50% on one-year tenure. For tenure of two years and three years MCLR is 8.60% and 8.70%, respectively.
What documents required for loan approval in SBI?
Proof of identity (Photocopies of PAN/Passport/Driver’s License, Voter ID card) 3. Proof of Residence (photo copies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card) 4. Statement of Bank account for last 12 months held by the applicant/s.
How can I qualify for SBI home loan?
State Bank of India’s home loan eligibility depends on a number of factors such as the age of the applicant, credit score, and income or salary.
SBI Home Loan Eligibility Based on Salary.
| Monthly Income | Loan Amount |
| Rs. 25,000 | Rs.15,10,693 |
| Rs. 30,000 | Rs.20,39,435 |
| Rs. 35,000 | Rs.23,79,341 |
| Rs. 45,000 | Rs.30,59,153 |
How long does it take for SBI to approve loan?
| Rent Plus | 6 days |
| Mortgage Loan | 6 days |
| Car Loan | 2 days (For HNIs-1 day) |
| Education Loan | 15 Working Days |
| Personal Loan | 3 days |
How do I know my SBI loan is approved?
You can check the status of your SBI personal loan by calling on their toll-free numbers 1800-112-211 and 1800-425-3800 which are accessible from all the landline and mobile phones. You can also call on the number 080 26599990.
