Join WhatsAppSBI Bank Personal Loan: There are times when savings are not enough. Maybe it’s for a medical emergency, your child’s admission fees, or even a long-awaited renovation at home. In such moments, a personal loan from SBI Bank feels like a trusted helping hand. It’s quick, less complicated, and gives you the money when you really need it. But before applying, two important questions always come up How much salary do I need? and What will be my EMI if I borrow ₹5 lakh? Let’s talk about this step by step.
Minimum Salary Required for SBI Personal Loan
SBI expects applicants to have a stable monthly income of at least ₹15,000–₹20,000 to apply for a personal loan. However, for a loan amount of ₹5 lakh, your monthly salary should ideally be around ₹25,000 or more to ensure approval and easy repayment.
The bank also checks your credit score, repayment history, and whether you already have other loans running. Simply put, the more stable your income and the better your credit score, the smoother your loan process will be.
EMI Calculation for ₹5 Lakh Loan
Now let’s get into the numbers. Suppose you borrow ₹5,00,000 for a tenure of 5 years (60 months). SBI Bank’s personal loan interest rates usually range between 11% and 14% per annum. Here’s how the EMI looks in different cases:
| Loan Amount | Interest Rate | Tenure | Monthly EMI | Total Interest | Total Repayment |
|---|---|---|---|---|---|
| ₹5,00,000 | 11% | 5 Years | ₹10,870 | ₹1,52,200 | ₹6,52,200 |
| ₹5,00,000 | 12% | 5 Years | ₹11,123 | ₹1,67,380 | ₹6,67,380 |
| ₹5,00,000 | 14% | 5 Years | ₹11,635 | ₹1,98,100 | ₹6,98,100 |
So depending on your interest rate, the EMI will be around ₹10,800–₹11,600 per month.
Why Salary vs EMI Balance Is Important
Think of it like this: if your monthly salary is ₹25,000 and your EMI is over ₹11,000, almost half your income goes into repayment. That leaves very little for rent, groceries, or other expenses. That’s why banks always check whether your EMI burden is within a safe limit usually not more than 40–50% of your income.
Conclusion
Taking a ₹5 lakh personal loan from SBI Bank is absolutely possible if your monthly salary is at least ₹25,000 or more. With an EMI between ₹10,800 and ₹11,600 for 5 years, the loan can fit comfortably into your budget if planned carefully. A loan should give you financial relief, not financial stress — and with proper calculation, it can do exactly that.
Disclaimer: This article is only for educational and general awareness purposes. Loan eligibility, EMI, and interest rates may vary as per SBI’s official policies, your credit score, and personal profile. Please verify the details from the official SBI website or nearest branch before making any financial decision.