Personal Loans Schemes

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Personal Loans Schemes

PERSONAL LOAN SCHEMES - Rate of Interest (w.e.f. 10.02.2020)

I. XPRESS CREDIT(including PAXC-Pre-Approved 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
8.05% 3.40% - 3.90% 11.45% - 11.95%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.05% 3.90% - 4.40% 11.95% - 12.45%

B. For Other Applicants:

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.05% 3.40% - 5.40% 11.45% - 13.45%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.05% 3.90% - 6.40% 11.95% - 14.45%

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 CREDIT – IT EMPLOYEES SCHEME

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.05% 4.80% - 6.80% 12.85% - 14.85%

 

III. XPRESS ELITE SCHEME

i. SBI Salary Package A/c Holders:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.05% 2.40% - 3.90% 10.45% - 11.95%

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
8.05% 2.65% - 4.15% 10.70% - 12.20%

 

IV. 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
8.05% 4.30% - 6.40% 12.35% - 14.45%

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
8.05% 5.05% - 6.65% 13.10% - 14.70%

V. OTHER UNSECURED PERSONAL LOANS

Mean ROI for Pension Loan the SEP-DEC’19 - 11.90%

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) 8.05% 3.35%-3.85% 11.40%-11.90%
Clean Overdraft 8.05% 8.45% 16.50%
Xpress Credit Insta Top-Up 8.05% 3.50% 11.55%
Other Unsecured Personal Loan
Scheme 1 year MCLR Spread over 2 year MCLR Effective Interest Rate Reset
Pre-Approved Personal Loans (PAPL) 7.85% 5.60% 13.45%
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		 8.05% 3.55 - 5.65% 11.60% - 13.70%

(Existing customers who are maintaining salary account with SBI will get 25 bps concession in rate of interest over the card rate)


Interest Rates

7.90% p.a.

 

*T&C Apply.

 

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