State Bank of India Personal Loan Foreclosure Charges (2026)
SBI's linked MITC lists a 3% pre-closure charge for Xpress Credit group products, Xpress Power, and Pension Loans, and states the charge is nil when repayment comes from a fresh SBI loan. The public MITC does not set out a general part-payment rule. Scheme and sanction terms can differ, so request a dated quote and confirm the calculation before paying.
SBI personal loan foreclosure charges at a glance
| Foreclosure charge | 3% pre-closure charge for listed SBI personal-loan schemes |
|---|---|
| Part-prepayment | The linked public MITC does not specify a general part-payment charge or facility. Confirm whether part-payment is allowed and what charge applies to your scheme. |
| Lock-in / when allowed | Request a current closure quote; the linked MITC does not state a universal EMI lock-in. |
| Official fee schedule | SBI Personal Loans — Most Important Terms & Conditions (PDF) · verified 2026-10-06 |
Charge breakdown
- The linked SBI MITC lists 3% pre-closure charges for Xpress Credit group products, Xpress Power, and Pension Loans.
- The linked MITC states the charge is nil when repayment is made from the proceeds of a fresh SBI loan.
Check the current RBI rule for your lender[RBI Master Directions index]
RBI prepayment-charge instructions are set out in lender-category-specific Master Directions. For covered floating-rate loans to individuals for non-business purposes, charge eligibility depends on the applicable direction, loan dates, and rate type on the prepayment date. Check the direction for your lender and your loan documents.
The standalone RBI prepayment notification issued in 2025 has been withdrawn. Prepayment-charge instructions are set out in lender-category-specific Master Directions. Find the direction for your lender and check its scope against the sanction or renewal date, borrower type, loan purpose, rate type, and loan documents.
Waivers & exceptions
- The linked MITC states the pre-closure charge is nil when repayment is made from the proceeds of a fresh SBI loan.
How to foreclose a SBI personal loan
Use SBI’s current instructions for your scheme to request a dated pre-closure quote, then obtain written closure confirmation after payment.
How to compare a foreclosure quote
Request the lender's dated closure quote and compare it with the future payments under your current schedule. A simple estimate is (scheduled EMI × remaining payments) − current principal, but it assumes the EMI and rate stay unchanged and excludes other fees or insurance. Include all quoted charges and taxes, and consider the value of keeping the cash available. This arithmetic is a screening estimate, not a substitute for the lender's settlement figure.
Worked example
Suppose 12 scheduled EMIs of ₹45,000 remain. Those payments total ₹5,40,000. If the lender's dated closure quote, including applicable charges and taxes, is ₹5,10,000, the nominal cash outflow difference is ₹30,000.
This is only a screening comparison: it does not account for the time value of cash, insurance refunds, or other costs that are not included in the quote.
Related tools & guides
Sources & References
Legal basis: RBI (Pre-payment Charges on Loans) Directions, 2025 (issued 2 July 2025, applicable to loans sanctioned or renewed on or after 1 January 2026); individual bank fee schedules as published.
Official sources
Last verified against official sources: July 2026. Figures are researched from the government sources above and checked before publishing. See our Editorial & Verification Policy.
This page is for informational and educational purposes only. Charges are researched from the lender's published fee schedule and can change at the lender's discretion — always confirm against your sanction letter and the bank's current schedule before acting. This is not financial advice.
Frequently Asked Questions
What is the SBI Xpress Credit foreclosure charge?
The linked SBI MITC lists 3% pre-closure charges for Xpress Credit group products, Xpress Power, and Pension Loans. It does not specify a general part-payment facility or charge; confirm your scheme and the calculation base in your loan documents.
When is SBI personal loan foreclosure free?
The linked MITC states the pre-closure charge is nil when repayment is made from the proceeds of a fresh SBI loan. Other waivers may be scheme-specific. Check the current RBI Master Direction for commercial banks for any regulatory exemption that applies to your loan.
Is there a lock-in before I can foreclose an SBI personal loan?
The linked public MITC does not state a universal EMI lock-in. Request a dated quote and check your sanction terms for when foreclosure is allowed and how the charge is calculated.
How do I close an SBI personal loan?
Request the closure amount at your branch or through YONO, pay the dues including the foreclosure charge, and collect the loan closure certificate.