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Sbi ( State Bank Of India ) Personal Loan Details With Interest Rate

Kindly Check Complete Details For Sbi ( State Bank Of India ) Personal Loan.


Sbi ( State Bank Of India )
Personal Loan
12.45% onwards
1% of the Loan Amount + applicable Service Tax
Min. Rs. 24,000, Max. Rs. 15 lakhs
Up to 5 years
Full Details for Sbi ( State Bank Of India ) Personal Loan
About SBI Personal Loan

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:
  • Low interest rates. Further, we charge interest on a daily reducing balance!!
  • Low processing charges;
  • No hidden costs /administrative charges.
  • No security required, minimal documentation something that you had always wanted.

Features Purpose

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:

  • Central and state Government
  • Quasi-Government
  • Central PSUs
  • Profit making State PSUs
  • Educational Institutions of National Repute
  • Selected Corporates who have business relationship with the Bank
  • Corporates who do not have business relationship with the Bank as well as do not have ECR, subject to certain terms and conditions
Income
  • Minimum NMI: Rs.5000/-
  • EMI/NMI Ratio should not exceed 50%
Loan Amount (i) Term Loan:
  • Min: Rs.25,000/-
  • Maximum: 24 times NMI subject to maximum of Rs 15.00 lacs.
(ii) Overdraft:
  • Minimum: Rs.5.00 lacs,
  • Maximum: 24 times NMI subject to maximum of Rs 15.00 lacs.

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 Period
  • Maximum 60 months or residual service period whichever is less
Provision for 2nd Loan

Second 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


Charges/Fees Processing Fees

1% of the Loan Amount + applicable Service Tax

Penal Interest

Penal 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
  • Any prepayment of EMIs in full or in part and closure of account before the end of term will attract the prepayment charges of 3% on prepaid amount
  • No prepayment/ foreclosure charges will be applicable if the account is closed from the proceeds of a new loan account opened under the same scheme

 

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

PROCESSING FEES
Personal Loans

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

Click here to apply for SBI Loan

 

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