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 Personal Loan
 
Description
 

The SBM Personal loan is an all-purpose loan offered to finance any personal project that the customer wishes to pursue e.g. wedding, purchase of a computer or car or for any other personal requirement. The SBM Personal loan comes as a sigh of relief for those in urgent need of cash.

 
 Features
 
  • Interest rate
    • Secured by collateral:
      • Amounts up to Rs 100,000  :SBM PLR + 4.25% p.a
      • Amounts above Rs 100,000  :SBM PLR + 3.75% p.a

    • Secured with Two Guarantors:
      • Amounts up to Rs 100,000  :SBM PLR + 5.75%   p.a
      • Amounts above Rs 100,000 :SBM PLR + 5.25% p.a 
         
  • Up to 10 year repayment period
  • 48-hour approval subject to necessary documents being provided by the customer

 
 Benefits
 
  • Open to all personal customers - both salaried and non-salaried
  • Quick, efficient service
  • Competitive interest rates
 
 Eligibility Criteria
 
  • Open to individuals aged 18 years and above
 
 Documents Required
 
  • Birth certificate
  • National Identity Card
  • Marriage Certificate
  • Proof of address (latest utility bill - MT or CEB or CWA)
  • Salary slip
 
 FAQs
 
  • How much can I borrow?

The maximum amount is up to 25 times the salary of the applicant if personal guarantors are provided. However, for a loan exceeding 25 times salary, tangible security will be required.

  • What is the maximum repayment period?

10 years

  • Does my salary need to be credited to SBM?

Yes, your salary must be credited to SBM.

 
   
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