SBI XPRESS POWER

Enjoy the freedom of instant funds with SBI Xpress Power even without having a salary account with SBI.

Features
• Lowest Rate of Interest • Minimum Documentation
• Zero hidden costs. • Term Loans & Overdraft facility.
• No SBI salary account. • Repayments through NACH / SI
Eligibility:
  • • Salaried Individuals with no salary account with SBI.
  • • Employees working with
    • Central/ State Governments/ Defence Establishments
    • Quasi Government Bodies
    • PSUs
    • Educational Institutions of National repute
    • Select Rated Corporates
  • • Minimum Gross Monthly Income of Rs.50,000
  • • Needs an EMI/NMI ratio: Up to 50%
  • • Eligible Term Loan Amount:
    • Minimum Loan Amount - Rs. 25,000
    • Maximum Loan Amount - 24 times NMI / Rs. 15 lakhs.
  • • Overdraft Loans Amount
    • Minimum Loan Amount – 5 lakhs
    • Maximum Loan Amount - 24 times NMI / Rs. 15 lakhs.

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Terms and Conditions:
  • Processing fee of 1% of the Loan Amount + applicable Tax.

  • Maximum repayment Period - 5 years or remaining period of service (whichever is lower).

  • Prepayment charges of 3% on prepaid amount.

  • Penal Interest @2% p. m would be charged over and above the applicable interest rate on overdue amount for the period of default.