PERSONAL LOAN SCHEMES - Rate of Interest (w.e.f. 01.09.2018)

I. XPRESS CREDIT


A. For Defence/ Para-Military/ Indian Coast Guard Salary Package Applicants


i) ‘Term Loan’ facility:


2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 3.40% - 3.90% 11.95% - 12.45%

ii) ‘Overdraft’ facility:


2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 3.90% - 4.40% 12.45% - 12.95%

B. For Other Applicants


i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 3.40% - 5.40% 11.95% - 13.95%

ii) ‘Overdraft’ facility:


2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 3.90% - 5.90% 12.45% - 14.45%

Note for loans under Xpress Credit scheme: 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

II. XPRESS POWER SCHEME

 


iii) ‘Term Loan’ facility:


2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 3.50% - 5.15% 12.05% - 13.70%

iv) ‘Overdraft’ facility:


2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 4.00% - 5.65% 12.55% - 14.20%

Note for loans under Xpress Power scheme: 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


V. XPRESS CREDIT – IT EMPLOYEES SCHEME

 

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 4.80% - 6.80% 13.35% - 15.35%
VI. XPRESS ELITE SCHEME

 

i. SBI Salary Package A/c Holders:


2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 2.40% - 3.90% 10.95% - 12.45%

ii. Other than Salary Package A/c Holders (including Applicants not maintaining Salary A/c with our Bank):


2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 2.65% - 4.15% 11.20% - 12.70%


VII. XPRESS CREDIT- NON-PERMANENT EMPLOYEES (NPES)

 


i. Central and State Government, Quasi‐Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National Repute:


2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 4.30% - 6.40% 12.85% - 14.95%

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


2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 5.05% - 6.65% 13.60% - 15.20%


VIII. OTHER UNSECURED PERSONAL LOANS

 


Other Unsecured Personal Loans – (1/2)

Scheme

Revised

2 year MCLR

Spread over 2 year MCLR

Effective Interest Rate with No Reset

Pension Loan

8.55%

3.35 %

11.90%

Clean Overdraft

8.55%

8.45%

17.00%

Xpress Credit Insta Top-Up

8.55%

3.50%

12.05%


Other Unsecured Personal Loans – (2/2)

Scheme

Revised

1 year MCLR

Spread over 1 year MCLR

Effective Interest Rate with No Reset

Pre-Approved Personal Loans (PAPL)

8.45%

5.60 %

14.05%