No, SBI does not provide personal loans for amounts below ₹1 lakh. As per the official SBI website, the minimum loan amount for an SBI personal loan is ₹1,00,000. Therefore, if you need a ₹50,000 loan, you must explore alternative SBI products or consider other financial institutions. 

Overview of SBI Personal Loan  

SBI is one of India’s most trusted banks offering a range of personal loans for salaried individuals, pensioners, and self-employed professionals. However, these loans come with a set minimum amount, and ₹50,000 does not meet the eligibility threshold for a standard personal loan. 

Key Features of SBI Personal Loans: 

  • Minimum Loan Amount: ₹1 lakh 

  • Maximum Loan Amount: Up to ₹35 lakhs, subject to eligibility and income criteria 

  • Interest Rate: Starting from 10.30% p.a. (as of latest update) 

  • Repayment Tenure: Up to 7 years 

  • Processing Fee: 1.50% of loan amount + GST 

  • Eligibility Criteria: 

  • Salaried individuals with a regular income 

  • Minimum net monthly income of ₹20,000 for government/defense sector employees and ₹25,000 for corporate sector employees 

  • Indian nationals with a satisfactory credit score 

  • Age: 21–60 years (above 60 considered case-by-case for Govt/Defense employees). 

  • Interest Rates: Starting from 10.30% per annum, varying based on the applicant's profile and loan amount 

Why You Can't Get ₹50,000 as a Personal Loan from SBI 

  1. Minimum Loan Limit Set to ₹1 Lakh 
    SBI mandates ₹1 lakh as the base personal loan amount due to operational efficiency and risk coverage. 

  1. Loan Processing Costs 
    Small loans like ₹50,000 may not justify the costs of underwriting, credit verification, and administration. 

  1. Standardized Loan Products 
    To streamline loan approvals and maintain policy consistency, SBI does not allow customized small loan requests under ₹1 lakh. 

Alternative Loan Options for ₹50,000 

If you require a loan amount of ₹50,000, consider the following alternatives: 

1. SBI Personal Gold Loan 

  • Loan Amount: ₹20,000 to ₹50 lakh 

  • Eligibility: 

  • Individuals pledging gold ornaments 

  • Interest Rate: Starting from 8.55% p.a.  

  • Repayment Tenure: Up to 36 months 

  • Processing Fee: 0.50% of the loan amount + GST 

2. Other Financial Institutions

Several Non-Banking Financial Companies (NBFCs) and digital lending platforms offer personal loans starting from ₹10,000. These institutions may have different eligibility criteria and interest rates compared to traditional banks.

Conclusion 

While SBI does not offer personal loans for amounts less than ₹1 lakh, applicants seeking smaller loan amounts can consider alternative products like gold loans or explore offerings from other financial institutions. It's essential to assess your financial needs, compare various loan products, and choose the one that best suits your requirements. 

Disclaimer: This information is for general guidance only and may change over time. Please verify with official sources before making any decisions.