Check SBI Festival Loan Interest Rates – ✓ Offers ✓ EMI Calculator ✓ Eligibility ✓ Documents ✓ Features ✓ Benefits ✓ Eligible Loan Amount. SBI Bank offers unique facility of Festival Loans to help you meet festival related expenses.
SBI Festival Loan Purpose Loan is offered to meet any kind of festival related expenses. Eligibility of loan amount depends on your loan repayment capacity and income.
SBI Festival Loan Details
|Interest Rates||Low interest rates|
|Processing Fee||1% of Loan Amount + Service Tax|
|Loan Amount||Rs.5000/- to 4 times your net monthly income|
|Required Income||Min. Rs.3000/- (spouse’s income can be included)|
Features of SBI Festival Loan
- Low interest rates.
- Less processing charges.
- Hidden charges – Nil.
- No security required if check off is available.
- Prepayment penalties – Nil
SBI Festival Loan Eligibility
- An Employee of Government, PSUs, profit making public or private limited companies/ institutions etc with a min. of 2 yrs service.
- Self employed person with minimum 3 years standing/experience
- Applicant should have regular source of income from justified channels like pension, Govt. Securities etc
- Net monthly income should be Rs.3000/- and above.
- Spouse’s income can also be included in calculating the loan amount provided he/she guarantees the loan or the loan is taken jointly.
SBI Festival Loan Documentation
- Photograph of passport size
- Proof of official address for self employed individuals and professionals such as – Telephone Bill, etc
- ITR for the previous 2 financial years, for self employed individuals and professionals
- Form 16 & Latest Salary, for salaried persons