State Bank of Hyderabad Personal Loan

SBH Personal Loan:

SBH stands for State Bank of Hyderabad. The bank was established in 1941 as Hyderabad State Bank. In 1956, SBH had been taken over by the Reserve Bank of India as its first subsidiary bank, and its name was changed from Hyderabad State Bank to State Bank of Hyderabad. Headquartered at Gunfoundry, Hyderabad, SBH has a huge network with 500 branches and almost 12,800 employees. The bank has been awarded with many honors for its excellent customer service. The bank constantly strives to be the most preferred and trusted bank in India and by now, State Bank of Hyderabad is the largest Associate Bank of State Bank of India. SBH provide personal banking, MSME (Micro, Small and Medium Enterprises) banking, corporate banking, Agriculture banking, NRI banking etc. Apart from providing car loan, home loan, gold loan, educational loan, SBH also provides personal loan to fulfill your various requirements. SBH provides two types of personal loans— Personal Loan Unsecured and SBH Prashanti Scheme. Under SBH Prashanti Scheme, personal loans are provided to pensioners, family pensioners, pensioners who are aged 70 years and above, and affluent pensioners.

SBH Personal Loan Features:

SBH personal loan features include:

• 1% processing fee for SBH Personal Unsecured loan which is subject to a minimum of Rs. 1000.
• For SBH Prashanti Scheme, processing fee is Rs. 500.
• Can be availed by both salaried and self-employed individuals.
• No pre-payment charge is required.
• You can repay this loan in 36 EMIs.
• You can get personal loan up to Rs. 5 lakhs and above 5 lakhs depending on your eligibility and repayment capacity.
• Security is required.
• It is a personal loan on demand.
• Repayment through EMI is available.

Why Choose SBH Personal Loan:

SBH offers general purpose unsecured personal loan for Indian resident individuals. The loan amount received under personal loan from SBH can be used for any genuine needs that you might be having like funding vacations, children’s education, home renovation or repairs etc. The bank offers a considerable amount of personal loan at low processing fees. Also, SBH takes care of the various needs of the pensioners, and offers personal loans to pay for their medical expenses, children’s marriage etc.

SBH Personal Loan Eligibility:

Personal loan eligibility criteria differs from person to person at SBH.

Your minimum age should 21 years to apply for this loan. Your maximum age should not be more than 55 years. The eligibility criteria for SBH Personal Unsecured Loan is divided into two categories: Category 1 and Category 2.

Category 1: The employees of State, Central, Semi-Government and profit making PSUs belong to this category. They need to serve a minimum of three years in their present organization.

Category 2: The employees of Private Sector Companies belong to this category. They should have a rating of at least 1 to 3 with SBH, and minimum three years of service experience with their present organization.

The eligibility criteria for SBH Prashanti Scheme include:

• This loan can be availed by all pensioners including family pensioners, pensioners who are aged 70 years and above, and affluent pensioners.
• They need to be State and Central Government employees including Defense, Railways and Telecom Department or Bank employees.
• Their Pension Accounts need to be maintained with SBH.

SBH Personal Loan Interest Rate:

For SBH Prashanti Scheme, SBH charges an interest rate of 4.50% above base rate.

For SBH Personal Loan Unsecured, the revised rate of interest will be calculated based on your credit score.

• If your credit score is more than 80, then your interest rate will be B.R + 5.50% that is 15.70% yearly.
• If your credit score is between 71 - 80, then your interest rate will be B.R + 5.75% that is 15.95% yearly.
• If your credit score is between 61-70, then your interest rate will be B.R + 6.00% that is 16.20% yearly.

With SBH, the amount of personal loan sanctioned will be subject to the EMI to NMI ratio as follows:

• If your net annual income is Rs.3 lakhs or up to Rs.3 lakh, then your EMI/NMI ratio should not exceed 35%.
• If your annual income above Rs.3 lakhs and up to Rs.5 lakhs, then your EMI/NMI ratio should not exceed 50%.
• If your annual income is above Rs.5 lakh, then your EMI/NMI ratio should not exceed 60%.

SBH Personal Loan FAQs

1. Why do I need a personal loan?
   A personal loan can be useful when you are running short of money or you don’t any savings in your account to fulfill your needs. You can accomplish a lot of works such as home repairing, children’s education, and vacation planning etc. with help of a personal loan.
2. What is the maximum amount of personal loan offered by SBH?
   SBH offers personal loan up to Rs. 5 lakhs and in some cases, above Rs.5 lakhs subject to your eligibility and repayment capacity.
3. Does SBH charge any pre-payment charge for personal loan?
   No, SBH doesn’t charge pre-payment fees for its personal loans.
4. Does SBH personal loan require any security?
   Yes, you need to provide security to obtain an SBH personal loan.
5. Is it possible to check my SBH personal loan status online?
   If you do not get the desired information online, the status of the loan can be learnt by contacting the bank.
6. Where do I get SBH application form for personal loan?
   You download it from the SBH website or collect it from the bank-branch.
7. Can I get my SBH personal loan statement online?
   Yes, you can get your SBH personal loan statement online from SBH website.
8. Does SBH charge any processing fee for personal loan?
   Yes, SBH charges an amount of 1% for SBH Personal Unsecured loan and Rs. 500 for SBH Prashanti Scheme.

• Twitter
• Facebook
• Google
• Tumblr
• Pinterest