Personal Loans Schemes

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Personal Loans Schemes

PERSONAL LOAN SCHEMES - Rate of Interest (w.e.f. 15.05.2022)

Mean ROI for Xpress Credit : JAN -MAR’22 – 10.90%

I. XPRESS CREDIT

A. Applicants of Defence/ Central Armed Police/ Indian Coast Guard

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.40% 2.40% - 3.90% 9.80% - 11.30%

 ‘Overdraft’ facility available at an additional interest rate of 0.50% over Term Loan

B. Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.40% 2.40% - 4.40% 9.80% - 12.30%

 ‘Overdraft’ facility available at an additional interest rate of 0.50% over Term Loan

C. Applicants of Other Corporates

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.40% 3.40% - 5.40% 10.80% - 12.30%

‘Overdraft’ facility available at an additional interest rate of 0.50% over Term Loan

II. XPRESS ELITE SCHEME (Term Loan/ Overdraft)

Salary Account with SBI:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.40% 2.40% - 3.90% 9.80% - 11.30%

Salary Account with another Bank:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.40% 2.65% - 4.15% 10.05% - 11.55%

III. XPRESS LITE SCHEME

1% higher than I. Xpress Credit scheme for all brackets

IV. SBI QUICK PERSONAL LOAN SCHEME THROUGH CLP PORTAL (i.e., https://www.sbiloansin59minutes.com)

(for customer not maintaining salary account with SBI)

0.25% higher than I. Xpress Credit Scheme for all Brackets

V. XPRESS CREDIT INSTA TOP-UP LOANS

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.40% 3.50% 10.90%

VI. PENSION LOAN SCHEMES

Mean ROI for Pension Loan (Jan-March’22): 9.83%

Scheme 2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
SBI Pension Loan 7.40% 2.55% 9.95%
Jai Jawan Pension Loan 7.40% 2.55% 9.95%
Pension Loan Scheme For Treasury & PSU Pensioners 7.40% 2.55%-3.05% 9.95%-10.45%
Pension Loan to Coal Mines Provident Fund (CMPF) Pensioner 7.40% 2.55% 9.95%
Pre-Approved Pension Loans(PAPNL) 7.40% 2.55% 9.95%
Pre-approved Insta Pension Top-Up 7.40% 2.55% 9.95%

VII. PRE-APPROVED PERSONAL LOANS (PAPL) TO NON-CSP CUSTOMERS THROUGH YONO

1 year MCLR Spread over 1 year MCLR Effective Interest Rate with No Reset
7.20% 5.60% 12.80%

Last Updated On : Wednesday, 01-06-2022

Interest Rates

7.55%* p.a.

w.e.f. 15.06.2022

*T&C Apply.

 

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