Personal Loans Schemes

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Personal Loans Schemes

PERSONAL LOAN SCHEMES - Rate of Interest (w.e.f. 10.06.2020)

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
7.20% 3.40% - 3.90% 10.60% - 11.10%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 3.90% - 4.40% 11.10% - 11.60%

B. For Other Applicants:

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 3.40% - 5.40% 10.60% - 12.60%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 3.90% - 5.90% 11.10% - 13.10%

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
7.20% 2.40% - 3.90% 9.60% - 11.10%

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
7.20% 2.65% - 4.15% 9.85% - 11.35%

 

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
7.20% 4.30% - 6.40% 11.50% - 13.60%

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
7.20% 5.05% - 6.65% 12.25% - 13.85%

IV. OTHER UNSECURED PERSONAL LOANS

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

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) 7.20% 2.55%-3.05% 9.75%-10.25%
Clean Overdraft 7.20% 8.45% 15.65%
Xpress Credit Insta Top-Up 7.20% 3.50% 10.70%
Other Unsecured Personal Loan
Scheme 1 year MCLR Spread over 2 year MCLR Effective Interest Rate Reset
Pre-Approved Personal Loans (PAPL) 7.00% 5.60% 12.60%
Scheme 2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
SPL. PAPL 7.20% 2.40% 9.60%
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		 7.20% 3.65 - 5.65% 10.85% - 12.85%

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


Interest Rates

6.95% p.a.

w.e.f. 01.07.2020

*T&C Apply.

 

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