PERSONAL LOAN SCHEMES - Rate of Interest (w.e.f. 10.08.2019)

I. XPRESS CREDIT(including PAXC-Pre-Approved Xpress Credit)


Mean ROI for the quarter APR-JUNE 19  - 13.11%


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
8.35% 3.40% - 3.90% 11.75% - 12.25%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.35% 3.90% - 4.40% 12.25% - 12.75%

B. For Other Applicants:


i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.35% 3.40% - 5.40% 11.75% - 13.75%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.35% 3.90% - 6.90% 12.25% - 14.75%

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

 


i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.35% 3.50% - 5.15% 11.85% - 13.50%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.35% 4.00% - 5.65% 12.35% - 14.00%

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


III. XPRESS CREDIT – IT EMPLOYEES SCHEME

 

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.35% 4.80% - 6.80% 13.15% - 15.15%

IV. XPRESS ELITE SCHEME

 

i. SBI Salary Package A/c Holders:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.35% 2.40% - 3.90% 10.75% - 12.25%

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
8.35% 2.65% - 4.15% 11.00% - 12.50%


V. 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
8.35% 4.30% - 6.40% 12.65% - 14.75%

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
8.35% 5.05% - 6.65% 13.40% - 15.00%


VI. OTHER UNSECURED PERSONAL LOANS

 


Mean ROI for Pension Loan the APR-JUNE’19 - 12%

Other Unsecured Personal Loans

Scheme

Revised

2 year MCLR

Spread over 2 year MCLR

Effective Interest Rate with No Reset

Pension Loan(including PAPNL-Pre Approved pension Loans)

8.35%

3.35%-3.85%

11.70%-12.20%

Clean Overdraft

8.35%

8.45%

16.80%

Xpress Credit Insta Top-Up

8.35%

3.50%

11.85%

Other Unsecured Personal Loan

Scheme

1 year MCLR50

Spread over 2 year MCLR/

 

Effective Interest Rate with No Rest

Pre-Approved Personal Loans (PAPL)

8.25%

5.60%

13.85%