State Bank of Hyderabad personal loan interest rates depends the borrower’s on income, borrower’s credit history, the RBI rates, inflation etc. State Bank of Hyderabad personal loan interest rate for the year 2015 is provided at the discretion of the bank but the base rate is 9.95 percent. The interest rates is offered in such a way that the borrower is not burdened with the EMI payment.
SBH Personal Loan Interest Rates 2018
| Particulars | Salaried | Self-employed |
| Interest rate | 14.70% to 16.75% p.a. | 14.70% to 16.75% p.a. |
| Loan Amount | Rs.25,000 to Rs.7.5 lakhs | Rs.25,000 to Rs.7.5 lakhs |
| Loan Tenure | Up to 3 years | Up to 3 years |
| Lowest EMI | Rs.3,451 (for Rs.1 lakh loan amount with maximum loan tenure at the lowest interest rate). | Rs.3,451 (for Rs.1 lakh loan amount with maximum loan tenure at the lowest interest rate). |
| Processing Fee | 1% of the advance amount with a minimum of Rs.1000. | 1% of the advance amount with a minimum of Rs.1000. |
| Age | 21 to 55 years | 21 to 55 years |
| Prepayment Charges | Nil | Nil |
| Foreclosure Charges | – | – |
How to calculate interest or EMI on State Bank of Hyderabad Personal Loan?
EMI or Equated Monthly Instalment is the amount that the borrower has to pay to the bank each month towards the payment of interest and the principal loan amount. The principal amount and interest is divided by the tenure that the loan was taken for. The formula to calculate the EMI is:
EMI= Principal X Rate of interest on a monthly basis X (1+rate of interest on a monthly basis) to the power of the loan tenure divided by [(1+rate of interest on a monthly basis) to the power of the loan tenure – 1]
Factors affecting State Bank of Hyderabad Personal Loan Interest Rates
State Bank of Hyderabad personal loan interest rate varies for every applicant due to the following factors:
- Loan tenure:If the loan tenure is short, the interest rate is high when compared to loans with a longer tenure.
- Repayment capacity:State Bank of Hyderabad checks a person’s repayment capacity before offering him a loan and before deciding the interest rate. The bank will make sure that the EMI amount will not exceed 35 percent of the borrower’s income is up to Rs.3 lakhs and if the borrower’s income is above Rs.3 lakhs to Rs.5 lakhs, then the bank ensures that the EMI amount doesn’t exceed 50 percent of his income. If the borrower’s income is above Rs.5 lakhs, the bank will make sure that the EMI amount does not exceed more than 60 percent of his income. The bank also looks into the borrower’s assets and his creditworthiness before finalising on an interest rate.
- Borrowing class:Young applicants are not so stable at their job and banks usually stay away from people who do not have a constant flow of income. State Bank of Hyderabad offers personal to permanent employees of the state, central & semi government, PSUs and employees of private sector companies.
- Relationship with the bank:You may even get a discount on the processing charges or might get a reduced interest rate if you have been having a good long term relationship with the State Bank of Hyderabad.
