SBI Vs PNB Personal Loan ₹10 Lakh Plan: Personal loans have become one of the easiest ways to arrange funds for emergencies, education, travel, or family needs. In 2026, major public sector banks like SBI and PNB are offering ₹10 lakh personal loans with simple eligibility rules and quick processing. Many applicants prefer these banks due to trusted service and competitive interest rates.
Both banks provide flexible repayment options and digital application facilities that make borrowing more convenient. Interest rates depend on salary, credit score, and employment type. Understanding the eligibility criteria, documents required, and the application process can help borrowers increase their chances of quick approval and get funds without delay.
Easy ₹10 Lakh Personal Loan Options from SBI and PNB in 2026
State Bank of India and Punjab National Bank are among the top choices for personal loans in 2026. They offer loans up to ₹10 lakh for salaried and self-employed individuals with flexible repayment tenures. These banks are trusted for their transparent policies and stable interest rates.
Both lenders provide simple digital application systems and fast approvals for eligible customers. Government employees, salary account holders, and applicants with strong credit scores often receive quicker approvals and better interest rates. The loan can be used for multiple personal needs without restrictions.
Latest Interest Rates and Charges for SBI and PNB Personal Loans
SBI personal loan interest rates generally range between 10.05% and 15.05% per year, depending on income, employment type, and credit history. Processing fees can go up to 1.5% of the loan amount, and repayment tenure can extend up to six years.
PNB personal loan interest rates usually start from around 10.25% and can go higher based on credit score and eligibility. Processing charges are usually lower, often up to 1% of the loan amount. The repayment tenure can also go up to 72 months.
SBI Vs PNB Personal Loan ₹10 Lakh Plan Overview
| Feature | SBI Personal Loan | PNB Personal Loan |
|---|---|---|
| Interest Rate | 10.05% – 15.05% | 10.25% – 13%+ |
| Loan Amount | Up to ₹20–35 lakh | Up to ₹20 lakh |
| Tenure | Up to 6 years | Up to 6 years |
| Processing Fee | Up to 1.5% | Up to 1% |
| Ideal Credit Score | 650+ preferred | 650+ preferred |
| Minimum Salary | Around ₹15,000 | Based on repayment capacity |
| Approval Speed | Fast digital processing | Quick approval for eligible users |
| Best For | Salary account holders | Government and salaried staff |
| EMI for ₹10 Lakh | Around ₹21k–₹22k (5 years approx.) | Similar range based on rate |
| Documents Needed | Basic KYC and income proof | Basic KYC and income proof |
Eligibility Criteria for Getting a ₹10 Lakh Loan in 2026
Applicants must generally be between 21 and 60 years of age and should have a stable income source. Both salaried and self-employed individuals can apply, but income stability plays a major role in approval decisions.
A credit score of 650 or above is usually preferred by both banks. A higher score can help secure lower interest rates and quicker approval. Existing bank customers may receive more flexible terms and faster loan processing.
Income Requirements and Salary Conditions for Loan Approval
Banks assess loan eligibility based on monthly income and repayment capacity. SBI usually requires a minimum monthly income of around ₹15,000, although this may vary depending on the loan scheme and city.
PNB may allow loan amounts up to multiple times the monthly salary for eligible applicants. Stable employment and regular income increase the chances of approval. Government employees often receive higher loan eligibility due to job security.
Documents Required to Apply for SBI and PNB Personal Loans
Applicants need to submit basic identification documents such as Aadhaar card, PAN card, and recent passport-size photographs. These documents help verify identity and address details.
Income proof is also required, including recent salary slips and bank statements from the last six months. Self-employed individuals may need to submit additional financial documents to support their income claims.
Simple Online Application Process for Quick Loan Approval
The application process is simple and can often be completed online. Applicants need to fill out the loan application form, upload documents, and select the desired loan amount and tenure.
After submission, the bank checks the applicant’s credit history, income, and repayment capacity. Once approved, the loan amount is usually transferred directly to the bank account within a short time.
Factors That Improve Chances of Getting a Loan Easily
Maintaining a high credit score and stable employment history can greatly improve approval chances. Applicants with fewer existing loans and EMIs are seen as lower risk by banks.
Having a salary account in SBI or PNB can also increase approval speed. Government employees and long-term bank customers often receive priority due to their financial reliability.
Estimated EMI for ₹10 Lakh Personal Loan in 2026
For a five-year tenure, the EMI for a ₹10 lakh loan is generally around ₹21,000 to ₹22,000, depending on the interest rate offered. This amount can change slightly based on credit score and tenure selected.
Choosing a longer tenure can reduce monthly EMI but increase total interest paid. A shorter tenure may increase EMI but helps in clearing the loan faster with lower overall interest.
Choosing Between SBI and PNB for Personal Loan Benefits
SBI is often preferred for its slightly lower starting interest rates and strong digital banking services. Many applicants find the online process quick and convenient.
PNB is known for simple eligibility criteria and helpful loan options for government and salaried employees. The final choice depends on interest rates offered, repayment ability, and personal banking relationship.