Apply Loans to Salaried Employees having salary accounts Online in India | SBI - Personal Banking
Loans to Salaried Employees
Whether it’s your wedding or a vacation, unplanned emergency or planned purchase, get quick approval and instant disbursal with minimal documentation through SBI’s Xpress Credit Personal Loan for all your needs.
Dial 1800-11-2211 for more information/ applying through Contact Centre
Give a Missed Call on 7208933142 or SMS “PERSONAL” on 7208933145 to get a call back from our Contact Centre
Features
- Loan up to 30 lakhs.
- Low interest rates.
- Interest on daily reducing balance.
- Low processing charges.
- Minimal documentation
- Zero hidden costs.
- Provision for second Loan
- No security, no guarantor.
Eligibility
- Individuals with Salary Account with SBI.
- Minimum monthly income Rs. 25000/-
- EMI/NMI Ratio upto 60%
- Employees working with
- Central/ state/ quasi government,
- Central and State PSUs
- Educational institutions of national repute,
- Selected corporates with or without relationship with the bank.
- Term Loans Amount
- Minimum Loan Amount – Rs. 1 lakh
- Maximum Loan Amount – Rs. 30 lakhs / 24 times NMI
Terms and Conditions
- Penal Charges: In the event of default in payment of any instalment or any irregularity in the loan account, penal charges at following rate will be applicable:
- Irregularity upto 60 Days: 2.40% per annum on the irregular portion for the period of irregularity.
- Continuous irregular for a period beyond 60 days: 5% per annum on the outstanding for the period of irregularity.
- Prepayment charges :
- Any prepayment of EMI in full or in part and closure of account before the end of term will attract the prepayment charges of 3% on the prepaid amount. However, no pre-payment charges to be levied if the Loan Account is closed after the completion of Loan tenure of 3 years;
- In case of defense customers, 100% waiver of prepayment charges to be applicable if the loan is closed after 6 months from date of sanction;
- In case of Government/ Corporate sector customers, no prepayment charges if the loan is closed after 6 months from date of sanction from the proceeds of a new loan account opened under the same scheme with the Bank.
- No prepayment charges under this scheme for Platinum and Rhodium variant of Corporate Salary Package customers if the loan is closed after 6 months from the date of sanction.
- Pre-payment penalty of 3% on prepaid amount (in case of prepayment) to be levied in case of all takeover cases by other banks, irrespective of the tenure (including defense customers).
- Minimum repayment period is of 6 months and maximum repayment period is of 6 years or remaining period of service (whichever is lower).
Last Updated On : Tuesday, 27-08-2024
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Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
Personal Loans Landing Page
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Special Loan for Salaried Customers with Monthly Income of Rs. 1 lakh & above
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Loans to Salaried Employees having salary accounts with SBI
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Pre-Approved Personal Loans in 4 clicks only
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Criteria
- Features
- Eligibility
- Terms and Conditions
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Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above