State Bank of India vs Punjab National Bank Personal Loan Comparison 2026
A side-by-side comparison of interest rates, EMI, eligibility, and features to help you choose the better Personal Loan for your financial profile.
Data as of March 2026
Detailed Comparison
| Parameter | SBI | PNB |
|---|---|---|
| Min Interest Rate | 11.15% p.a. | 10.4% p.a. |
| Max Interest Rate | 14.3% p.a. | 16.95% p.a. |
| Rate Type | fixed | fixed |
| Processing Fee | 1.50% (min ₹1,000) | 1% (min ₹1,000, max ₹15,000) |
| Max Loan Amount | ₹20 Lakh | ₹20 Lakh |
| Max Tenure | 6 years | 6 years |
| Min CIBIL Score | 650+ | 650+ |
| Min Income (Salaried) | ₹15,000/month | ₹15,000/month |
| Min Income (Self-Employed) | ₹3 lakh/year | ₹3 lakh/year |
| Prepayment Charges | Nil for floating rate. Fixed rate: 2% of outstanding + GST | Nil for floating rate. Fixed rate: 2% of outstanding + GST |
| Benchmark Rate | Repo Rate Linked | Repo Rate Linked |
| Women Borrower Discount | 0.05% concession | 0.05% concession |
* Green values indicate a better metric for that bank.
EMI Comparison — 5 Year Tenure
Monthly EMI and total cost at each bank's minimum interest rate.
| Loan Amount | SBI EMI | SBI Total Cost | PNB EMI | PNB Total Cost | Savings |
|---|---|---|---|---|---|
| ₹5 Lakh | ₹10,909/mo | ₹6.55 Lakh | ₹10,722/mo | ₹6.43 Lakh | ₹11.2K |
| ₹10 Lakh | ₹21,817/mo | ₹13.09 Lakh | ₹21,444/mo | ₹12.87 Lakh | ₹22.4K |
| ₹20 Lakh | ₹43,635/mo | ₹26.18 Lakh | ₹42,889/mo | ₹25.73 Lakh | ₹44.8K |
* Savings column shows the difference in total interest paid over the full tenure.
Which Bank is Better for You?
Best for Lowest EMI
Punjab National Bank — starts at 10.4%, lower than SBI's 11.15%.
Best for Longer Tenure
State Bank of India — offers up to 6 years, giving you more flexibility to reduce EMI.
Best for Large Loan
State Bank of India — maximum loan of ₹20 Lakh, ideal for high-value properties.
Best for Lower CIBIL Score
State Bank of India — accepts CIBIL scores from 650, more inclusive for borderline profiles.
Best for Self-Employed
Both banks offer Personal Loan to self-employed professionals and business owners. SBI's minimum: ₹3 lakh/year vs PNB: ₹3 lakh/year.
Frequently Asked Questions
Which bank offers a lower Personal Loan interest rate — SBI or PNB?
SBI starts at 11.15% p.a. while PNB starts at 10.4% p.a. PNB offers the lower starting rate as of March 2026. However, the actual rate depends on your credit profile, income, and loan amount.
What is the processing fee difference between SBI and PNB?
SBI charges 1.50% (min ₹1,000) while PNB charges 1% (min ₹1,000, max ₹15,000). For large loan amounts, even a 0.1% difference in processing fee can translate to thousands of rupees.
Which bank has higher maximum loan amount — SBI or PNB?
SBI offers up to ₹20 Lakh while PNB offers up to ₹20 Lakh. SBI has the higher maximum limit.
What CIBIL score do I need for SBI and PNB Personal Loan?
SBI requires a minimum CIBIL score of 650 while PNB requires 650. For the best interest rates from both banks, a CIBIL score of 750+ is recommended.
Can I transfer my Personal Loan from SBI to PNB?
Yes, balance transfer is possible if PNB offers a lower rate than your current SBI Personal Loan. You will need to pay a small processing fee and the remaining tenure should be at least 12 months. Contact Money Matrix Hub to assess if a balance transfer is beneficial for your specific case.
Which bank processes Personal Loan applications faster?
Private banks like SBI typically process loans faster (3–7 working days) compared to public sector banks which may take 7–14 working days. For urgent requirements, consider a bank with a strong digital loan processing platform.
Which bank is better for first-time home buyers — SBI or PNB?
Both SBI and PNB offer special schemes for first-time buyers. SBI offers Instant pre-approved offers via YONO for existing customers while PNB features PNB Personal Loan — lowest rate of 10.40% for PSU/government employees. For PMAY subsidy benefits, check eligibility with both banks.
What is the total interest paid over 5 years for a ₹50 Lakh Personal Loan?
At SBI's rate of 11.15%: EMI = ₹1,09,087/mo, total interest = ₹15.45 Lakh. At PNB's rate of 10.4%: EMI = ₹1,07,222/mo, total interest = ₹14.33 Lakh.
Do both banks offer prepayment without penalty?
RBI regulations mandate that floating rate loans should not attract prepayment charges. Both SBI and PNB do not charge prepayment penalties on floating rate Personal Loan. For fixed rate loans, a 2-3% prepayment charge may apply — check your loan agreement carefully.
Which bank should I choose for a Personal Loan — SBI or PNB?
The right choice depends on your profile: If you prioritize the lowest rate, PNB has the edge. If you want a longer tenure, SBI offers 6 years. For digital convenience and faster processing, private sector banks typically score higher. Money Matrix Hub can help you get the best offer from both banks simultaneously.
Get the Best Offer from Both Banks
Apply through Money Matrix Hub to receive competing offers from SBI and PNB simultaneously. Our advisors will negotiate the best rate for you. Free service, no hidden charges.