As of my knowledge cutoff of September 2021, SBI (State Bank of India) offered personal loans for tenures of up to 6 years. The interest rates for personal loans may vary based on various factors, such as the loan amount, the borrower’s credit score, and the repayment tenure, among other factors.
As an example, at that time, for a loan amount up to Rs. 20 lakhs, the interest rates for SBI personal loans with a tenure of up to 3 years were between 9.60% to 13.60% per annum. For loans with tenures between 3 to 6 years, the interest rates were between 9.85% to 14.85% per annum.
It’s important to note that interest rates are subject to change based on market conditions and other factors. You can check the SBI website or visit the nearest SBI branch to find out the latest interest rates for personal loans and other details related to personal loan eligibility criteria, documentation, and processing fees.
