State Bank of Bikaner and Jaipur Personal Loan @ 9.99% | Financial Services, Features, Benefits, Eligibility and Interest Rates

State Bank of Bikaner and Jaipur Personal Loan: If you want to take an education loan to study abroad but cannot go for some reason? Then you should approach the State Bank of Bikaner and Jaipur Personal Loan. After connecting to this bank, you will realise that this bank is with you in every step because we know your every wish and requirement very well. Whether it is your wedding expenses, study abroad expenses or any other type of loan to pay off, you can apply for a bank loan for fast response.

A personal loan is a type of loan that does not require any security, and that’s why it is effortless to take it from the State Bank of Bikaner and Jaipur. Now you do not need to run here and there to avail loan, apply online or offline and get complete financial services.

Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.

State Bank of Bikaner and Jaipur

The bank came into existence on 1 January 1963 and had its headquarter in Jaipur city.

State Bank of Bikaner and Jaipur was a subsidiary of State Bank of India, and the bank was merged in 2017 with it. It is India’s public sector bank with a total of 35793 branches. The bank had 1,360 branches, and the maximum branches were located in Rajasthan (In 2015).

Financial Services Of State Bank of Bikaner and Jaipur

The banks provide personalised banking services and other common financial services to like fixed deposit, recurring deposit, home/ personal loan, vehicle loan, gold loan, education loan, PPF account, lockers, mobile banking, RTGS, NEFT, E-Wallet, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more. Besides these, if you are looking for a loan for poultry, dairy farming, other agricultural needs and farming, then you should contact this bank because the State Bank of Bikaner and Jaipur covers home loans, business loans and personal loans, among many. Its loan services are one of the most popular products that it provides to all.

State Bank of Bikaner and Jaipur Personal Loan Features

A glance at its features

  • Age should be – 21 to 58 years a
  • CIBIL score- Minimum 700
  • Loan tenure- 72 months (maximum)
  • Processing fee of State Bank of Bikaner and Jaipur Personal Loan Processing- 1% to 2%
  • State Bank of Bikaner and Jaipur Personal Loan Interest Rate- 9.99% p.a.
  • Prepayment Charges- will be decided by the bank
  • Minimum Loan Amount- Rs. 10,000
  • Maximum Loan Amount Available – yes.

State Bank of Bikaner And Jaipur Personal Loan Benefits

  • For all applicants, a maximum loan amount is also available for their personal needs.
  • State Bank of Bikaner and Jaipur offer their customers several loan repayment options.
  • The bank has effortless and fast personal loan application’s processing.
  • After applying for the personal loan, you will not need to wait much because the bank will approve the loan within two or 3 days.
  • No need for any guarantor.
  • The bank offers loans at competitive and affordable interest rates.
  • Also has fantastic and fresh schemes and discounts for established companies’ employees.
  • To avail of State Bank of Bikaner and Jaipur Personal Loan, you have not required any security and collateral.

State Bank of Bikaner and Jaipur Personal Loan Eligibility Criteria

  • Salaried applicant: For salaried employee individuals, it is must-have work experience of three or above three years. He should be the permanent employee of central Government, State Government, reputed public sector companies, public establishments and reputed companies.
  • Age criteria to avail State Bank of Bikaner and Jaipur Personal loan: To avail personal loan from the State Bank of Bikaner and Jaipur Bank, all applicants’ age should be between 21 to 58 years.
  • Loan applicants should have a regular income: Whether you are a salaried employed applicant or self-employed businessman, you should have a monthly income in your account.

So, if you fulfil all the above eligibility, you will be able to take the State Bank of Bikaner and Jaipur Personal loan instantly. Within two or three days, you will receive the fund in your account.

State Bank of Bikaner and Jaipur Personal Loan Documents Required

Address proof

  • Recent credit card statements.
  • Bank account statement of recent six months.
  • Recent electricity bill
  • Lease agreement of borrowers’ existing house.
  • Recent mobile/telephone bill.

If an applicant lives in a rental apartment, he should have a rent agreement and water bills for residential proof.

Income proof

  • Borrowers should have a current salary slip with all deductions on it. As an alternative, you can use form 16 also.
  • If an applicant is a self-employed businessman, he should have earlier 3 years’ income tax returns (ITI)
  • Six months’ Bank statements (For both salaried employee applicants and self-employed applicants)
  • If a borrower runs a business, then he should have proof of three years of business experience.
  • A salaried employee should have a salary certificate to avail of Saraswat Cooperative Bank Personal Loan.
  • It is mandatory for a salaried applicant to have the full address of his office.

Identity proof

  • PAN card
  • Aadhar Card
  • Passport
  • Voter ID card
  • Driving license
  • Government department ID card.
  • 2 Coloured photographs and a passbook

Factors that Affect Interest Rates of Personal Loan

Based on lenders’ credit risk evaluation and cost of funds, interest rates are fixed. Below, we will tell you about some useful factors that are considered very important to keep in mind while taking a personal loan from the State Bank of Bikaner and Jaipur.

  • Credit Score of all applicants: While setting personal loan interest rates, lenders usually start factoring in the loan applicants’ credit scores. In simple words, it can be said that the lender first sees this point. If you have a good or high credit score, then it is considered that you are highly eligible to take a personal loan. Mostly a credit score above 750 is considered very good to avail this loan. For this, you have to maintain financial habits such as you should repay your EMIs and credit card bills before their due ends, avoiding multiple credit card applications and loans within less time. And also maintain a minimum utilisation ratio to gain an excellent credit score.
  • Employer: Higher-income certainty can be seen in salaried individuals, and that is why they are charged low-interest rates. If you are a government employee, you are offered lower interest rates because of the income certainty and higher job security. So it’s a must-point that affects State Bank of Bikaner and Jaipur Personal Loan Interest Rates. In simple words, when you apply for a loan, the lenders consider applicants’ employment or where you work.
  • Income of loan applicants: Your income should be regular and high to avail this personal loan from the State Bank of Bikaner and Jaipur because high and regular income indicates a higher capacity to repay the personal loan. For a lender, this can lower credit risk. This is the main reason that lenders prefer those borrowers who have higher incomes.

Conclusion on State Bank of Bikaner and Jaipur Personal Loan

Use the funds to consolidate your credit card, renovate your house, pay other debt, take amazing long trips, start a business as well as finance weddings. Usually, personal loans are used for unpredictable medical emergencies. So, if you are in great need of money and searching for a suitable lender, you must approach this bank for a personal loan. Before applying for the loan, read and understand all the points mentioned above thoroughly to avoid facing any problems while taking the loan.

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