Personal Loans Schemes

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Personal Loans Schemes

Personal Loans Schemes

PERSONAL LOAN SCHEMES - Rate of Interest (w.e.f. 10.05.2020)

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

Mean ROI for Xpress Credit : JAN -MAR’20 – 12.63%

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
7.45%	3.40% - 3.90%	10.85% - 11.35%

ii) ‘Overdraft’ facility:

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.45%	3.90% - 4.40%	11.35% - 11.85%

B. For Other Applicants:

i) ‘Term Loan’ facility:

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.45%	3.40% - 5.40%	10.85% - 12.85%

ii) ‘Overdraft’ facility:

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.45%	3.90% - 5.90%	11.35% - 13.35 %

Note for loans under Xpress Credit scheme: Following category of borrowers will get special concessions:

Criteria	Concession Offered
Loan amount >= Rs 10,00,000.	50 bps in Rate of Interest
Platinum Salary Package customers	50 bps in Rate of Interest
Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status	50 bps in Rate of Interes

-Subject to total maximum concession of 100 bps over the Card rate

II. XPRESS ELITE SCHEME

i. SBI Salary Package A/c Holders:

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.45%	2.40% - 3.90%	9.85% - 11.35%

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
7.45%	2.65% - 4.15%	10.10% - 11.60%

III. 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
7.45%	4.30% - 6.40%	11.75% - 13.85%

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
7.45%	5.05% - 6.65%	12.50% - 14.10%

IV. OTHER UNSECURED PERSONAL LOANS

Mean ROI for Pension Loan : JAN -MAR’20 – 11.38%

Other Unsecured Personal Loans
Scheme	Revised
Scheme	2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
Pension Loan(including PAPNL-Pre Approved pension Loans)	7.45%	3.35%-3.85%	10.80%-11.30%
Clean Overdraft	7.45%	8.45%	15.90%
Xpress Credit Insta Top-Up	7.45%	3.50%	10.95%
Other Unsecured Personal Loan
Scheme	1 year MCLR	Spread over 2 year MCLR	Effective Interest Rate Reset
Pre-Approved Personal Loans (PAPL)	7.25%	5.60%	12.85%

SBI QUICK PERSONAL LOANS THROUGH CLP PORTAL
Scheme	2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
SBI Quick Personal loan Through CLP portal	7.45%	3.65 - 5.65%	11.10% - 13.10%

(0.25% higher than Xpress credit scheme. for all brackets)

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