People ask this because SBI is a public sector bank and is often associated with lower costs. SBI Personal Loan interest rates can be competitive for certain borrower segments such as government or salaried employees with stable income. However, it is not automatically cheaper for everyone. Pricing still depends on credit score, income stability, and tenure. SBI may offer reasonable rates but usually follows stricter eligibility and longer processing timelines compared to private banks. Borrowers should compare total repayment amount rather than assuming lower cost based on bank type.