Which government banks offer personal loan in Delhi?

Posted by Ajit Samal on March 25th, 2020

Delhi is one of the biggest metro cities and the national capital of India. The city is home to numerous national and multinational companies. All banks and NBFCs offer personal loans in Delhi with attractive rates and other nominal charges. 

Interest rates, loan tenure and prepayment policy vary from one lender to another based on an applicant’s eligibility. Salaried and self-employed individuals who have regular income can easily get personal loans in Delhi. Eligible customers can get personal loans at attractive rates from the best banks in India.  

Public Sector Bank (PSB) loans in Delhi

While all public sector banks offer personal loans in Delhi, here are the top banks that offer personal loans in Delhi. 

State Bank of India 

When it comes to availing a personal loan, SBI is one of the best banks in India. With pan India network, it offers a personal loan under three categories for different types of customers – SBI Express Credit personal loans, SBI personal loan for pensioners, SBI Xpress power loan. 

SBI Xpress credit personal loan

Employees working with the state government, central government, PSUs and reputed private organisations can get SBI Xpress credit personal loan for a variety of financial requirements. Borrowers should have their salary account with any of the SBI branches. A personal loan up to 20 lakhs is available under this scheme without security. 

Some notable features of SBI Xpress credit personal loan:

Loan amount

Up to Rs. 20 lakh


Less than 50%

Interest rate

From 11.55% p.a. 

Processing fee

1% of the loan amount + GST

Minimum income per month 

Rs. 15k p. m. 

Repayment tenure

Maximum 72 months or rest of service tenure (whichever is lower)

SBI personal loan for pensioners

Pensioners of the central government, state government, PUS and military forces who maintain their salary account with State Bank of India can get personal loans for a host of financial requirements, such as home renovation, child’s education and other miscellaneous expenses. No processing fee for defence pensioners and a nominal processing fee other 

Interest rate

Starting from 12% 

Maximum age

Below 76 years

Loan limit

Rs. 25k to Rs. 14 lakh

Repayment tenure

Up to 7 years

Processing charges

  • No processing fees for defence pensioners

  • For other applicants: 0.50% of the loan amount + GST 

SBI Xpress Power loan

Salaried individuals who don’t have their salary account with the State Bank of India can also get personal loans from the bank. Under SBI Xpress Power Loan, you can get up to Rs. 15 lakh for your several financial needs. 

Interest rate

11.65% p.a.

Age limit

21 - 60 years

Loan amount limit

Rs. 25,000 - 24 times NMI / Rs. 15 lakhs

Loan tenure

A maximum of 60 months/ left service period (whichever is lower)

Processing charges

1% of the total loan + GST

Prepayment charges

3% on prepaid amount

Documents required for SBI personal loan 

Documentation may vary from loan scheme to scheme. Here are the common documents you need to submit to get the loan. 

  • Loan application form with 2 duly signed passport size photos

  • Income Tax PAN Copy

  • Proof of pension for pensioner’s loan

  • Identity proof: Driving License/ PAN/ Passport/ Voter’s ID/ Aadhaar Card

  • Residential proof: Registered Rent Agreement/Utility Bill for the latest 3 months/ Passport – provided it has the same address as on the application form

  • Income proof: Form 16 for 2 years, salary slips for the past 3 months, and bank statement for the past 3 months showing salary credit and any EMI debit

Central Bank of India personal loan 

Central Bank of India personal loan is one of the best personal loans in Delhi. Central Bank offers personal loans under 6 categories with affordable interest rates starting from 11% p.a. 

Central Bank of India personal loan schemes are as under:

Cent personal loan scheme: Permanent employees of central and state governments, hospitals, schools, railways and municipal bodies, who have completed one year of service can get personal loans under this scheme. Permanent employees of reputed private companies with 3 years of experience can also get personal loans under cent personal loan scheme. 

Cent Ratna: Permanent employees of any Navratna/ Maharatna/ major PSUs can get personal loans under this scheme. 

Corporate employees: Individuals employed with large corporate clients can get personal loans under this scheme. 

Cent teacher: Teachers employed with schools/ colleges/ universities and other educational and research institutions can get personal loan under this scheme. 

Cent doctor: Medical practitioners like MBBS, BDS, MD, BAMS etc. can get personal loans under this scheme. 

Cent Suvidha: Salaried employees working for schools, colleges, corporate clients and other institutions can get personal loans under this scheme. 

Key features of Central Bank of India personal loan are as follows:

Interest rate

Starting from 11% p.a.

Loan amount

20 times of gross salary subject to a maximum Rs. 10 lakh

Processing fees

Rs. 500 + GST

Eligibility criteria for Central Bank of India personal loans


Here is the checklist of documents you will need to submit to get Central Bank of India personal loan:

  • Filled and duly signed application form 

  • Proof of identity: Voter’s ID Card/ Aadhaar Card/ Driving License/ PAN Card

  • Address proof: Utility bills (not more than 3 months old)/ Driving License/ Voter’s ID Card/ Aadhaar Card/ Passport with the same address as on application form

  • Bank statement: For the past 3 months 

  • Salary slips: Salary slips for past 3 months with Form 16

  •  Passport size photographs

Bank of Baroda personal loan

Bank of Baroda is one of the top public sector multinational Indian banks. It is one of the best banks in India for personal loans.

Key features of Bank of Baroda personal loan:


Rate of interest

11.35% - 16.35% p.a.

Age limit

21 - 60 years

Loan amount

Up to Rs 10 lakh in Delhi

Processing fee

Rs.1,000 - Rs.10,000

Prepayment charge

After 6 months the charges are Nil.

Loan tenure

Up to 4 years

Documents required for BOB personal loan

  • Identity proof: Passport /Voter’s ID /PAN card /Aadhaar card /Letter issued by the Unique Identification Authority of India

  • Address proof: Leave & License Agreement/ Ration card /Utility bill (not more than 3 months old) / Driving License/ Passport

  • Age proof: Birth certificate/ School leaving certificate/ PAN card/ Passport

  • Income proof: Salary slips for the last 3 months and latest Form 16

  • Bank statement: Bank statement showing salary credit for the last 3 months 

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Ajit Samal

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Ajit Samal
Joined: March 25th, 2020
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