SBI Bank: At any time in life, there may be a sudden need for money due to reasons like medical emergencies or marriage. A personal loan is a good option for those who have not saved money for difficult times. Banks provide these loans to meet personal needs so that you can meet your immediate financial requirements.

If you are also planning to take a personal loan from the bank to meet your personal needs, then you can take a personal loan from the country's largest bank State Bank of India. Let us tell you that it offers personal loans to its customers at a very good interest rate. But keep in mind that the interest rates of personal loans are higher than other loans. In such a situation, take a personal loan from the bank only for important work.

These people will get cheap personal loans from SBI-

Talking about the interest rates of SBI's loans, SBI offers personal loans to its customers at an initial interest rate of 12.60 percent but to some people, SBI offers personal loans at a lower interest rate. Central and state government employees, including police and railway workers, get the benefit of a particularly low interest rate. The starting interest rate of SBI personal loans for these employees is 11.60%.

EMI on a personal loan of Rs 5 lakh - If a government employee takes a personal loan of Rs 5 lakh from SBI for 5 years, then he will have to pay Rs 11,021 every month as EMI. In such a situation, Rs 1,61,285 will have to be paid only as interest.

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