Do you want funds readily available to you whenever you desire or need, be it a sudden vacation that you plan with your family or urgent funds required for medical treatment? SBI Xpress Credit Personal Loan is the answer to your questions.
Enjoy the SBI Advantage:We provide personal loans to theemployees of undernoted entitiesmaintaining salary account with us at zero margin, and very competitive interest rates with fast and easy processing:
The OD will be subject to monthly reduction in DP so that DP becomes NIL in 60 months
Note: Maximum loan amount for School Teachers is capped at 12 months Gross Salary both under Term Loan and Overdraft facility
Repayment PeriodSecond Loan can be taken after 1 year of disbursement of the 1st loan provided the 1st loan has been satisfactorily conducted and is regular at the time of sanction of 2nd Loan. There cannot be more than 2 Xpress Credit Loans standing in the name of a borrower. However this is subject to the overall EMI/NMI ratio of 50%
Margin : Nil
Security : Nil
Third Party Guarantee : Nil
1% of the Loan Amount + applicable Service Tax
Penal InterestPenal Interest @2% p.a. would be charged over and above the applicable interest rate on the overdue amount for the period of default. If part instalment or part EMI remains overdue then penal interest should not be levied.
Prepayment Charges
PERSONAL LOAN INTEREST SCHEMES
Personal Loans (Unsecured) | ||||
Scheme | Revised (w.e.f. 01.01.2017) | |||
---|---|---|---|---|
2 year MCLR | Spread over 2 year MCLR | Effective Interest Rate | Reset Period | |
SBI Pension Loan | 8.10% | 4.35% | 12.45% | No Reset |
Jai Jawan Pension Loan | 8.10% | 4.35% | 12.45% | No Reset |
PENSION LOAN TO COAL MINES PROVIDENT FUND (CMPF) PENSIONERS* | 8.10% | 4.35% | 12.45% | No Reset |
Xpress Credit IT Employees | 8.10% | 4.80-6.80 | 12.90%-14.90% | No Reset |
Clean Overdraft | 8.10% | 8.45% | 16.55% | No Reset |
OD for e-Commerce purchases | 8.10% | 5.50% | 13.60% | No Reset |
Xpress Credit to employees of Rated Corporates:
Facility Type | Check Off Category | Rating | 2 year MCLR | Spread over 2 year MCLR | Effective Interest Rate | Reset Period |
---|---|---|---|---|---|---|
Term Loan | Check Off | A- and above | 8.10% | 3.80% | 11.90% | No Reset |
Term Loan | Check Off | BBB+ and below | 8.10% | 4.30% | 12.40% | No Reset |
Term Loan | No Check off | A- and above | 8.10% | 5.90% | 14.00% | No Reset |
Term Loan | No Check off | BBB+ and below | 8.10% | 6.40% | 14.50% | No Reset |
Overdraft | Check Off | A- and above | 8.10% | 4.05% | 12.15% | No Reset |
Overdraft | Check Off | BBB+ and below | 8.10% | 4.55% | 12.65% | No Reset |
Overdraft | No Check off | A- and above | 8.10% | 6.15% | 14.25% | No Reset |
Overdraft | No Check off | BBB+ and below | 8.10% | 6.65% | 14.75% | No Reset |
Xpress Credit to employees of Unrated Corporates:
Facility Type | Check Off Category | Credit Bureau Score | 2 year MCLR | Spread over 2 year MCLR | Effective Interest Rate | Reset Period |
---|---|---|---|---|---|---|
Term Loan | Check Off | ? 800 | 8.10% | 4.55% | 12.65% | No Reset |
Term Loan | Check Off | 700 - 799 | 8.10% | 5.05% | 13.15% | No Reset |
Term Loan | No Check off | ? 800 | 8.10% | 5.40% | 13.50% | No Reset |
Term Loan | No Check off | 700 - 799 | 8.10% | 6.65% | 14.75% | No Reset |
Overdraft | Check Off | ? 800 | 8.10% | 4.80% | 12.90% | No Reset |
Overdraft | Check Off | 700 - 799 | 8.10% | 5.30% | 13.40% | No Reset |
Overdraft | No Check off | ? 800 | 8.10% | 5.65% | 13.75% | No Reset |
Overdraft | No Check off | 700 - 799 | 8.10% | 6.90% | 15.00% | No Reset |
Personal Loans (Secured) | ||||
Scheme | Revised (w.e.f. 01.01.2017) | |||
---|---|---|---|---|
1 year MCLR | Spread over 1 year MCLR | Effective Interest Rate | Reset Period | |
Gold Loan (all variants) | 8.00% | 2.55% | 10.55% | 1 year |
Loan against Shares& Mutual Funds | 8.00% | 3.15% | 11.15% | 1 year |
Loan against NSC/ KVP/ RBI Relief Bond/ Surrender Value of SBI Life/ LIC/ SBI Magnum | 8.00% | 4.65% | 12.65% | 1 year |
Loan against Debentures | 8.00% | 7.30% | 15.30% | 1 year |
Loan for subscription to IPOs | 8.00% | 7.15% - 7.65% | 15.15%-15.65% | 1 year |
Loans to Employees to subscribe for ESOPs | 8.00% | 7.15% | 15.15% | 1 year |
Equity Plus | 8.00% | 7.15% | 15.15% | 1 year |
Loan against SBI Debt Fund Series | 8.00% | 5.15% | 13.15% | 1 year |
Loan against FCNR (B) Deposit | 8.00% | 2.90% | 10.90% | 1 year |
Xpress Elite (w.e.f.20.10.2016) | 8.00% | 3.40%-7.15% | 11.40%-15.15% | 1 Year |
Personal Loans (Secured) | Interest Rate w.e.f. 01.04.2016 | Interest Rate w.e.f. 01.01.2017 |
---|---|---|
Loan against Bank’s Time Deposits (Domestic) | 1% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount. | No Change |
Loan Against Floating Rate Term Deposit (Domestic) | 1.50% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount. | No Change |
Loan against Bank’s Time Deposits and NRO Fixed Deposits | 1% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount. | No Change |
Loan against NRE Fixed Deposits | 1% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount. | No Change |
Scheme Name | Processing Fees |
---|---|
Clean Overdraft | NIL |
SBI Pension Loan | 0.51% (Including Service Tax) of loan amount , Min : Rs.250/- per application |
Jai Jawan Pension Loan | NIL |
Xpress Credit | 1.01% of the Loan Amount |
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