INTEREST RATES AS ON 01-04-2018

State Bank of India: Interest Rates on 1st APRIL, 2018
For the purpose of computing perquisite valuation

Interest rates as on 1st APRIL, 2018 on various loans in Personal Segment advances are as under

1 year MCLR RATE: 8.15%
2 year MCLR RATE: 8.25%

Interest Rate on Home Loan (MCLR: 8.15%) w.e.f. 01.04.2018

(A)- HOME LOANS (TERM LOAN) including CRE HL:


I. TERM LOANS UPTO RS 30 LACS(1-yr MCLR: 8.15%)

Revised Interest Rate

 

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Women

LTV ≤ 80 1 Year MCLR + 20 bps, ER:8.35 1 Year MCLR + 35 bps, ER:8.50
LTV > 80
and ≤ 90
1 Year MCLR + 30 bps, ER:8.45 1 Year MCLR + 45 bps, ER:8.60

Other

LTV ≤ 80 1 Year MCLR + 25 bps, ER:8.40 1 Year MCLR + 40 bps, ER:8.55
LTV > 80
and ≤ 90
1 Year MCLR + 35 bps, ER:8.50 1 Year MCLR + 50 bps, ER:8.65

II. TERM LOANS ABOVE RS 30 LACS AND UPTO RS 75 LACS: (1-yr MCLR: 8.15%)

Revised Interest Rate

 

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Women

RG-1, 2 ,3 1 Year MCLR + 35 bps, ER:8.50 1 Year MCLR + 50 bps, ER:8.65
RG-4, 5, 6 1 Year MCLR + 45 bps, ER:8.60 1 Year MCLR + 60 bps, ER:8.75

Other

RG-1, 2, 3 1 Year MCLR + 40 bps, ER:8.55 1 Year MCLR + 55 bps, ER:8.70
RG-4, 5, 6 1 Year MCLR + 50 bps, ER:8.65 1 Year MCLR + 65 bps, ER:8.80

III. TERM LOANS ABOVE RS 75.00 LACS – FLOATING RATE: (1-yr MCLR: 8.15%)

Revised Interest Rate

 

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Women

RG-1, 2 ,3 1 Year MCLR + 45 bps, ER:8.60 1 Year MCLR + 60 bps, ER:8.75
RG-4, 5, 6 1 Year MCLR + 55 bps, ER:8.70 1 Year MCLR + 70 bps, ER:8.85

Other

RG-1, 2, 3 1 Year MCLR + 50 bps, ER:8.65 1 Year MCLR + 65 bps, ER:8.80
RG-4, 5, 6 1 Year MCLR + 60 bps, ER:8.75 1 Year MCLR + 80 bps, ER:8.90

EDUCATION LOAN SCHEMES - RATE OF INTEREST (As on 01.04.2018)

SBI STUDENT LOAN SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Upto Rs 7.5 Lacs

8.15% 2.00% 10.15% 1 year

Above Rs 7.5 Lacs

8.15% 2.75% 10.90% 1 year

Concession

0.50% concession in interest for girl student

Further Concession

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration


SBI SCHOLAR LOAN SCHEME
Category 1 year MCLR Spread Effective Interest Rate Reset Period

List AA

ROI

8.15% 0.35% 8.50% 1 year

Concession

No Further Concession

List A

All IIMs & IITs

8.15% 0.35% 8.50% 1 year

Concession

No Further Concession

Other institutes

8.15% 0.50% 8.65% 1 year

Concession

No Further Concession

List B

All NITs

8.15% 0.50% 8.65% 1 year

Concession

No Further Concession

Other institutes

8.15% 1.00% 9.15% 1 year

Concession

0.25% – if collateral security >= the loan amount
0.25% – work experience of more than 2 years

List C

All NITs

8.15% 0.50% 8.65% 1 year

Concession

No Further Concession

Other institutes

8.15% 2.00% 10.15% 1 year

Concession

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration


SBI SKILL LOAN SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Upto Rs 1.5 Lacs

8.15% 1.50% 9.65% 1 year

Concession

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration


SBI GLOBAL ED-VANTAGE SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Above Rs. 20 lacs & Upto Rs 1.5 Cr

8.15% 2.50% 10.65% 1 year

Concession

0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank

Further Concession

0.50% concession for girl students


SBI TAKEOVER OF EDUCATION LOANS SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Above Rs 10 lacs & Upto Rs 1.5 Cr

8.15% 1.50% 9.65% 1 year

Concession

0.50% concession in interest for girl students


 


PERSONAL LOAN SCHEMES – RATE OF INTEREST (As on 01.04.2018)


XPRESS CREDIT SCHEME FOR DEFENCE/PARA-MILITARY/INDIAN COAST GUARD SALARY PACKAGE (DSP/PMSP/ICGSP) APPLICANTS


i) ‘Term Loan’ facility:

TU CIBIL Score 2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
≥ 650 8.25% 3.40% 11.65%
<650 8.25% 3.90% 12.15%

ii) ‘Overdraft’ facility:

TU CIBIL Score 2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
≥ 650 8.25% 3.90% 12.15%
<650 8.25% 4.40% 12.65%
Note:

a) Following category of borrowers will get special concessions:


Criteria Concession Offered
Where ‘Check-Off’ is provided. 50 bps in Rate of Interest
Loan amount ≥ Rs 10,00,000. 50 bps in Rate of Interest

b) In case of the customers with No CIBIL TU score, Risk Scoring Model(RSM) score shall substitute the CIBIL TU Score in interest rate structure as under:


TU CIBIL Score ≥ 650 < 650
RSM ≥ 73 < 73

XPRESS CREDIT SCHEME for other than (DSP/PMSP/ICGSP) APPLICANTS


iii) ‘Term Loan’ facility


ECR
CIBIL TU Score
2 year MCLR
Spread over 2 year MCLR
Effective Interest Rate with No Reset

A- and above

≥ 750

8.25%

3.40%

11.65%

A- and above

700-749

8.25%

3.90%

12.15%

A- and above

650-699

8.25%

4.40%

12.65%

A- and above

550-649

8.25%

4.90%

13.15%

A- and above

≤550

8.25%

5.90%

14.15%

BBB+ and below

≥ 750

8.25%

4.40%

12.65%

BBB+ and below

700-749

8.25%

4.90%

13.15%

BBB+ and below

650-699

8.25%

5.40%

13.65%

BBB+ and below

550-649

8.25%

5.90%

14.15%

BBB+ and below

≤550

8.25%

6.40%

14.65%

UnRated

≥ 750

8.25%

4.40%

12.65%

UnRated

700-749

8.25%

5.40%

13.65%


iv) ‘Overdraft’ facility:/p>

Rating
CIBIL TU Score
2 year MCLR
Spread over 2 year MCLR
Effective Interest Rate with No Reset
A- and above

 

≥ 750

 

8.25%

 

3.90%

 

12.15%

 

A- and above

 

700-749

 

8.25%

 

4.40%

 

12.65%

 

A- and above

 

650-699

 

8.25%

 

4.90%

 

13.15%

 

A- and above

 

550-649

 

8.25%

 

5.40%

 

13.65%

 

A- and above

 

≤550

 

8.25%

 

6.40%

 

14.65%

 

BBB+ and below

 

≥ 750

 

8.25%

 

4.90%

 

13.15%

 

BBB+ and below

 

700-749

 

8.25%

 

5.40%

 

13.65%

 

BBB+ and below

 

650-699

 

8.25%

 

5.90%

 

14.15%

 

BBB+ and below

 

550-649

 

8.25%

 

6.40%

 

14.65%

 

BBB+ and below

 

≤550

 

8.25%

 

6.90%

 

15.15%

 

UnRated

 

≥ 750

 

8.25%

 

4.90%

 

13.15%

 

UnRated

 

700-749

 

8.25%

 

5.90%

 

14.15%

 

Note for loans under Xpress Credit scheme:

c) Following category of borrowers will get special concessions:


Criteria Concession Offered
Where ‘Check-Off’ is provided. 50 bps in Rate of Interest
Loan amount ≥ Rs 10,00,000. 50 bps in Rate of Interest

d) In case of the customers with No Score(No CIBIL TU score), Risk Scoring Model(RSM) score shall substitute the CIBIL TU Score in interest rate structure as under:


CIBIL TU Score
≥ 750
700-749
650-699
550-649
≤550

RSM

≥84

78-83

73-77

62-72

≤62

XPRESS CREDIT – IT EMPLOYEES SCHEME

Credit Info Bureau Score
2 year MCLR
Spread over 2 year MCLR
Effective Interest Rate with No Reset

 750 and above

8.25%

4.80%

13.05%

 550-749

8.25%

5.80%

14.05%

Less than 550/ No Score

8.25%

6.80%

15.05%

XPRESS ELITE SCHEME

SBI Salary Package A/c Holders
Credit Info Bureau Score
2 year MCLR
Spread over 2 year MCLR
Effective Interest Rate with No Reset

800 and above

8.25%

2.40%

10.65%

700-799

8.25%

2.90%

11.15%

600-699/ No Score

8.25%

3.90%

12.15%

Less than 600

No Loan

Other than Salary Package A/c Holders (including Applicants not maintaining Salary A/c with our Bank)
Credit Info Bureau Score
2 year MCLR
Spread over 2 year MCLR
Effective Interest Rate with No Reset

800 and above

8.25%

2.65%

10.90%

700-799

8.25%

3.15%

11.40%

600-699/ No Score

8.25%

4.15%

12.40%

Less than 600

No Loan


XPRESS CREDIT- NON-PERMANENT EMPLOYEES (NPES)


Employer Type
Rate of Interest
i)  Central and State Government, Quasi-Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National Repute

 

Check-off Category-I  :

 

430 bps above 2 yr MCLR i.e. 12.55%

Check-off Category-II:

640 bps above 2 yr MCLR i.e. 14.65%

 

ii) Co-operatives/ Institutions not covered under regular Xpress Credit loan scheme and Unrated Corporates

 

Check-off Category-I:

 

505 bps above 2 yr MCLR i.e. 13.30%

Check-off Category-II:

665 bps above 2 yr MCLR i.e. 14.90%

Other Unsecured Personal Loans Revised
Scheme 2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset

SBI Pension Loan

8.25%

3.35 %

11.60%

Jai Jawan Pension Loan

8.25%

3.35 %

11.60%

Pension Loan To Coal Mines Provident Fund (CMPF) Pensioners

8.25%

3.35 %

11.60%

Clean Overdraft

8.25%

8.45%

16.70%

OD for e-Commerce purchases

8.25%

5.50%

13.75%

Loans Against Securities Revised
Scheme 1 year MCLR Spread over 1 year MCLR Effective Interest Rate Reset Period

Gold Loan (all variants)

8.15% 2.00% 10.15% 1 year

Loan against Shares

8.15% 3.15% 11.30% 1 year

Loan against Mutual Funds & Dual Advantage Fund

8.15% 2.50% 10.65% 1 year

Loan against SGB

8.15% 2.00% 10.15% 1 year

Loan against NSC/KVP/RBI Relief Bond/Surrender Value of SBI Life/LIC/SBI Magnum

8.10% 4.65% 12.80% 1 year

Loan against FCNR (B) Deposit

8.15% 2.90% 11.05% 1 year

Loan Against Bank Time Deposite Interest Rate

Loan against Bank’s Time Deposits (Domestic)

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

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.

Loan against Bank’s Time Deposits and NRO Fixed Deposits

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Loan against NRE Fixed Deposits

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

 

Auto Loans Interest Rates w.e.f. 01.04.2018 (1 year MCLR 8.15% p.a.)

Scheme Interest Rate w.e.f. 01.04.2018 (1 year MCLR: 8.15%)

i) SBI Car Loan, ii) NRI Car Loan, iii) Assured Car Loan Scheme, iv) SME Retail Car Loan Scheme   (excluding Taxi, Transport Operators and fleet segments in SME)

 

 

From 8.90% to 9.40%

 

 

Loyalty Car Loan Scheme

SBI Car Loan, NRI Car Loan and Combo Loan Scheme

For Men: 1.15% above 1 year MCLR i.e. 9.30% p.a.

For Women: 1.10% above 1 year MCLR i.e. 9.25% p.a.

 

Certified Pre-owned Car Loan Scheme

Men: 2.45% above 1 year MCLR i.e. 10.60% p.a.

For Women: 2.40% above 1 year MCLR i.e. 10.55% p.a.

Certified Pre-owned Car Loan Scheme

4.65% above 1 year MCLR i.e. 12.80% p.a.

Super Bike Loan Scheme

3.65% above 1 year MCLR i.e. 11.80% p.a.

SBI Two-Wheeler Loan

9.25% above 1 year MCLR i.e. 17.40% p.a

SBI Car Loan Lite

CIBIL Score Rate of Interest

>=750

3% above 2 Yr MCLR i.e. 11.25%p.a.

From 650 to 749

4% above 2 Yr MCLR i.e. 12.25%p.a.

 

Finer pricing for New Car Loans based on CIC scores w.e.f. 01.04.2018

Type of customers CIC scores Interest Rate w.e.f. 01.03.2018 (1 year MCLR: 8.15%)

Corporate Salary Package customers *

Not applicable

0.75% above 1 year MCLR i.e., 8.90% p.a.

Other than Corporate Salary Package customers **

CICs score of 750 and above #

0.75% above 1 year MCLR i.e., 8.90% p.a.

CICs score of 700 and upto 749 #

0.95% above 1 year MCLR i.e., 9.10% p.a.

CICs score of less than 700#

1.25% above 1 year MCLR i.e., 9.40% p.a.

 

# For loan amount of Rs. 5.00 lacs and above, the lower CIC score will be considered from either of the two CICs to get the interest rate benefit as stated above.

* Corporate Salary Package customers would include all types of customers maintaining salary account with us with product specification as “Salary Package Accounts” in CBS. This would include employees of State/Central Government, PSUs, Corporations and Listed Pvt. Sector companies maintaining Corporate Salary Package account with us. This would also include Railway Salary Package, Police Salary Package, all Defense Salary Packages and PMSP Pensioners.

** Other than Corporate Salary Package customers would include Businessmen, Professionals/Self Employed, Agriculturist, Pensioners and other salary accounts.