State Bank of Bikaner and Jaipur Personal Loan
State Bank of Bikaner and Jaipur (SBBJ) is a leading bank in India, having over 1,000 branches across the country. State Bank of Bikaner and Jaipur was established in the year 1963, when the Bank of Jaipur merged with the Bank of Bikaner, forming the entity in its current form. All matters pertaining to the functioning of the bank are governed under the provisions of the SBI (Subsidiary Banks) Act.
State Bank of Bikaner and Jaipur offers personal loans to cater to any need a customer could have, following a customer centric approach to ensure the customer faces no hurdles in any banking need.
Why choose State Bank of Bikaner and Jaipur Personal Loan?
State Bank of Bikaner and Jaipur has personal loans to meet any requirement an individual could have. Monetary emergencies can arise at any point, often sinking the quality of life. This is where a personal loan can come handy, allowing people an alternative option to go through life without a burden on their head. SBBJ offers personal loans for any and all personal needs, with the aim to cater to all the banking needs of a customer.
The bank has kept pace with changing times, blending traditional banking with the ease of modern technology, ensuring customers have a pleasant and friendly experience. Personal loans can be availed without much hassle and the solid reputation of the bank makes it an extremely viable option when it comes to personal loans. SBBJ hopes to make a difference in the lives of their customers, providing them with the best service and products.
Features of State Bank of Bikaner and Jaipur Personal Loan
The customer-centric approach followed by SBBJ ensures that customers get a host of features when they opt for their personal loan, some of which are mentioned below.
Multipurpose loans – SBBJ offers personal loans for multiple purposes, ranging from weddings to home improvement to vacations, catering to any monetary requirement an individual could have.
High Loan Amount – Individuals can obtain high loan amounts for their personal needs, with SBBJ sanctioning loans up to Rs. 15 lakh, ensuring that lack of money doesn’t become a problem. Individuals can get loan amounts up to 24 times their monthly income.
Flexible repayment period – SBBJ offers flexible repayment tenures for personal loans. Customers get up to 60 months to clear their loan amount.
Quick approval – SBBJ tries to ensure that all legitimate loan applications are approved without any hassles and delays, providing quick relief to customers.
Competitive interest rates – SBBJ offers personal loans at extremely competitive rates, ensuring the loan doesn’t become too taxing on customers.
Security Deposit – SBBJ offers personal loans without any security in most cases, relying only on post-dated cheques or check off facility.
Low processing fee – SBBJ charges a low processing fee equivalent to 1% of the loan amount.
State Bank of Bikaner and Jaipur Personal Loan Interest Rate
State Bank of Bikaner and Jaipur charges a base rate of 9.95% per annum, in effect from June 18, 2015. Personal loans attract an interest rate which is 3% above the base rate for existing borrowers. The interest rate for salaried customers who have accounts with the bank is 13.2% per annum and it is 13.7% per annum for salaried customers who have no salary account with the bank. The rate of interest for other customers is 13.95% per annum.
The bank also charges a processing fee which is equivalent to 1% of the loan amount sanctioned.
State Bank of Bikaner and Jaipur Personal Loan Eligibility Criteria
Individuals who wish to obtain a State Bank of Bikaner and Jaipur personal loan need to meet the following eligibility criteria.
- Employed – The applicant should be a permanent employee of either a reputed PSU, government organization or a decent private company.
- Salary – The individual should have a minimum net monthly income of Rs. 9,000.
- Minimum Age – The applicant should be at least 21 years old.
- Maximum age – The applicant should be less than 58 years old.
An applicant is also required to furnish the following documents to obtain a SBBJ personal loan.
- Valid ID proof – This could be any government approved photo ID card like passport or driving license.
- Passport size photographs.
- Address proof – This could be a utility bill or a ration card.
- Copy of bank statement.
State Bank of Bikaner and Jaipur Personal Loan FAQs
- Am I eligible for State Bank of Bikaner and Jaipur personal loan?
- How do I repay State Bank of Bikaner and Jaipur Personal loan?
- What is the maximum loan one can get from State Bank of Bikaner and Jaipur?
- What is the tenure for State Bank of Bikaner and Jaipur personal loan?
State Bank of Bikaner and Jaipur offers personal loans only for salaried individuals earning more than the minimum stipulated amount per month depending on the city of their residence. The minimum monthly income required for State Bank of Bikaner and Jaipur personal loan is Rs. 9,000 per month. If you fall into this group, you can definitely apply for a State Bank of Bikaner and Jaipur personal loan.
You can repay the loan in Equated Monthly Installments (EMI's) using the ECS facility or through post-dated cheques.
State Bank of Bikaner and Jaipur offers personal loans as high as Rs. 15 Lakhs for successful applicants depending on their financial record and repayment history.
State Bank of Bikaner and Jaipur offers personal loan with a tenure period ranging from 12 months to 60 months making it suitable for all loan seekers.
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