INTEREST RATES AS ON 01-04-2017

State Bank of India: Interest Rates on 1st APRIL, 2017
For the purpose of computing perquisite valuation

Interest rates as on 1st APRIL, 2017 on various loans in Personal Segment advances are as under

1 year MCLR RATE: 8.00 %
2 year MCLR RATE: 8.10%
Notice to the borrowers as to the switch over option to BASE RATE/MCLR etc

There are many cases of Banking ombudsman complaints with the contention that bank has not intimated them the switch over option available to them for changing over to base rate & MCLR respectively and ultimately we were not able to produce the proof of having publicized the same in our web site. BO even ask for the trail in the website of having published the same in the website.

Interest Rate on Home Loan (MCLR: 8%) w.e.f. 01.04.2017

Category

Rate of Interest

Women (Up to Rs.75 Lacs) (HER Ghar)

1 year MCLR + 0.60%, effective rate 8.60% p.a.

Women (Above Rs.75 Lacs) (HER Ghar)

1 year MCLR + 0.65%, effective rate 8.65% p.a.

Others (Up to Rs.75 Lacs)

1 year MCLR + 0.65%, effective rate 8.65% p.a.

Others (Above Rs.75 Lacs)

1 year MCLR + 0.70%, effective rate 8.70% p.a.


EDUCATION LOAN SCHEME

SBI STUDENT LOAN SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Upto Rs 7.5 Lacs

8.00%
2.00%
10.00%
1 year

Above Rs 7.5 Lacs

8.00%
2.75%
10.75%
1 year

Concession

0.50% concession in interest for girl students

Further Concession

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration


SBI SCHOLAR LOAN SCHEME
Category 1 year MCLR Spread Effective Interest Rate Reset Period

List AA

ROI

8.00%
0.50%
8.50%
1 year

Concession

No Further Concession

List A

All IIMs

8.00%
1.35%
9.35%
1 year

Other institutes

8.00%
1.55%
9.55%
1 year

Concession

No Further Concession

List B

ROI

8.00%
1.85%
9.85%
1 year

Concession

0.25% – if collateral security >= the loan amount
0.25% – work experience of more than 2 years

Further Concession

(Effective rate of interest with both concession not to be lower than 1.30% above 1 year MCLR presently , 9.30% p.a.)

List C

Upto Rs 7.5 lacs

8.00%
2.00%
10.00%
1 year

Above Rs 7.5 lacs

8.00%
2.60%
10.60%
1 year

Concession

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration


SBI SKILL LOAN SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Upto Rs 1.5 Lacs

8.00%
1.50%
9.50%
1 year

Concession

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration


SBI GLOBAL ED-VANTAGE SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Above Rs. 20 lacs & Upto Rs 1.5 Cr

8.00%
2.50%
10.50%
1 year

Concession

0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank

Further Concession

0.50% concession for girl students


SBI EL TIE-UP WITH JAIN SANGH SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Upto Rs. 4 Lacs

8.00%
2.00%
10.00%
1 year

Concession

0.50% concession in interest for girl students

Further Concession

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration


SBI BIHAR STUDENT CREDIT CARD SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Upto Rs. 4 Lacs

8.00%
2.00%
10.00%
1 year

Concession

0.50% concession in interest for girl students

Further Concession

1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration


SBI TAKEOVER OF EDUCATION LOANS SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Above Rs 10 lacs & Upto Rs 1.5 Cr

8.00%
1.50%
9.50%
1 year

Concession

0.50% concession for girl students

 


PERSONAL LOAN SCHEMES


Xpress Credit to employees of Rated Corporates (W.E.F. 01.04.2017) with No Reset:


Facility Type Check Off Category Rating 2 year MCLR Spread over 2 year MCLR Effective Interest Rate

Term Loan

Check Off
A- and above
8.10%
3.80%
11.90%

Term Loan

Check Off
BBB+ and below
8.10%
4.30%
12.40%

Term Loan

No Check off
A- and above
8.10%
5.90%
14.00%

Term Loan

No Check off
BBB+ and below
8.10%
6.40%
14.50%

Overdraft

Check Off
A- and above
8.10%
4.05%
12.15%

Overdraft

Check Off
BBB+ and below
8.10%
4.55%
12.65%

Overdraft

No Check off
A- and above
8.10%
6.15%
14.25%

Overdraft

No Check off
BBB+ and below
8.10%
6.65%
14.75%


Xpress Credit to employees of Unrated Corporates (W.E.F. 01.04.2017) with No Reset :


Facility Type Check Off Category Credit Bureau Score 2 year MCLR Spread over 2 year MCLR Effective Interest Rate

Term Loan

Check Off
=800
8.10%
4.55%
12.65%

Term Loan

Check Off
700 - 799
8.10%
5.05%
13.15%

Term Loan

No Check off
=800
8.10%
5.40%
13.50%

Term Loan

No Check off
700 - 799
8.10%
6.65%
14.75%

Overdraft

Check Off
=800
8.10%
4.80%
12.90%

Overdraft

Check Off
700 - 799
8.10%
5.30%
13.40%

Overdraft

No Check off
=800
8.10%
5.65%
13.75%

Overdraft

No Check off
700 - 799
8.10%
6.90%
15.00%


Xpress Credit - IT Employees Scheme : Rate of Interest (W.E.F. 01.04.2017) with No Reset :


Credit Info Bureau Score 2 year MCLR Spread over 2 year MCLR Effective Interest Rate

750 and above

8.10%
4.80%
12.90%

550 - 749

8.10%
5.80%
13.90%

Less than 550 / No Score

8.10%
6.80%
14.90%


Xpress ELITE SCHEME : Rate of Interest (W.E.F. 01.04.2017) with 1 year Reset Period
SBI Salary Package A/C Holders


Credit Info Bureau Score 1 year MCLR Spread over 1 year MCLR Effective Interest Rate

800 and above

8.00%
3.40%
11.40%

700 - 779

8.00%
3.90%
11.90%

600-699 / No Score

8.00%
6.90%
14.90%

Less than 600

No Loan (This will override even if the applicant has clear sanction/ refer to higher authority as per the Personal Loan Risk Scoring Model).

Other than Salary Package A/c Holders (including Applicants not maintaining Salary A/c with our Bank)


Credit Info Bureau Score 1 year MCLR Spread over 1 year MCLR Effective Interest Rate

800 and above

8.00%
3.65%
11.65%

700 - 779

8.00%
4.15%
12.15%

600-699 / No Score

8.00%
7.15%
15.15%

Less than 600

No Loan (This will override even if the applicant has clear sanction/ refer to higher authority as per the Personal Loan Risk Scoring Model).


Xpress Credit - Non-Permanent Employees (NPEs)


Employer Type Rate of Interest

i) Central and State Government, Quasi-Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National Repute

Check-off Category-I * :
  • 430 bps above 2 yr MCLR i.e. 12.40%

Check-off Category-II * :
  • 640 bps above 2 yr MCLR i.e. 14.50%

ii) Co-operatives/ Institutions not covered under regular Xpress Credit loan scheme and Unrated Corporates

Check-off Category-I * :
  • 505 bps above 2 yr MCLR i.e. 13.15%

Check-off Category-II * :
  • 665 bps above 2 yr MCLR i.e. 14.75%


Revised (w.e.f. 01.04.2017)
Scheme 2 year MCLR Spread over 2 year MCLR Effective Interest Rate Reset Period

SBI Pension Loan

8.10%
4.35%
12.45%
No Reset

Jai Jawan Pension Loan

8.10%
4.35%
12.45%
No Reset

PENSION LOAN TO COAL MINES PROVIDENT FUND (CMPF) PENSIONERS

8.10%
4.35%
12.45%
No Reset

Clean Overdraft

8.10%
8.45%
16.55%
No Reset

OD for e-Commerce purchases

8.10%
5.50%
13.60%
No Reset
Loans Against Securities Revised ( W.E.F. 01.04.2017 )
Scheme 1 year MCLR Spread over 1 year MCLR Effective Interest Rate Reset Period

Loan against Shares & Mutual Funds

8.00%
3.15%
11.15%
1 year

Loan against NSC/KVP/RBI Relief Bond/Surrender Value of SBI Life/LIC/SBI Magnum

8.00%
4.65%
12.65%
1 year

Loan against FCNR (B) Deposit

8.00%
2.90%
10.90%
1 year

Gold Loan (all variants)

8.25%
2.00%
10.25%
1 year

Loan Against Bank Time Deposite Interest Rate

Loan against Bank’s Time Deposits (Domestic)

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Loan Against Floating Rate Term Deposit (Domestic)

1.50% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Loan against Bank’s Time Deposits and NRO Fixed Deposits

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Loan against NRE Fixed Deposits

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Auto Loans Interest Rates w.e.f. 01.04.2017 (1 year MCLR 8.00% p.a.)

Scheme Name Tenure Interest rate
For Men For Women

SBI Car Loan Scheme

For All Tenure

1.25% above 1 year MCLR i.e. 9.25% p.a.

1.20% above 1 year MCLR i.e. 9.20% p.a.

SBI Combo Loan Scheme

For All Tenure

1.25% above 1 year MCLR i.e. 9.25% p.a.

1.20% above 1 year MCLR i.e. 9.20% p.a.

NRI Car Loan

For All Tenure

1.25% above 1 year MCLR i.e. 9.25% p.a.

1.20% above 1 year MCLR i.e. 9.20% p.a.

SBI Loyalty Car Loan Scheme

Car Loan, Combo Loan, NRI Car Loan

1.15% above 1 year MCLR i.e. 9.15% p.a.

1.10% above 1 year MCLR i.e. 9.10% p.a.

 

Certified Pre-owned Car Loan Scheme,Used Car Loan Scheme

2.45% above 1 year MCLR i.e. 10.45% p.a.

2.40% above 1 year MCLR i.e. 10.40% p.a.

SBI ASSURED CAR LOAN SCHEME

Car Loan, Combo Loan, NRI Car Loan

1.25% above 1 year MCLR i.e. 9.25% p.a.

1.20% above 1 year MCLR i.e. 9.20% p.a.

Certified Pre-owned car loan

For All Tenure

4.65% above 1 year MCLR i.e. 12.65% p.a.

Super Bike Loan Scheme

For All Tenure

3.65% above 1 year MCLR i.e. 11.65% p.a.

Two Wheeler Loan Scheme

For All Tenure

9.25 % above 1 Yr. MCLR, effective rate 17.25 % p.a

Finer pricing applicable for Car Loans of Rs. 4 Lacs and above w.e.f. 01.04.2017

Type of customers CIC scores Interest rate

Corporate Salary Package customers

Not applicable

0.75% above 1 year MCLR i.e., 8.75% p.a.

Other than Corporate Salary Package customers

CICs score of 750 and above

0.75% above 1 year MCLR i.e., 8.75% p.a.

CICs score of 700 and upto 749

0.95% above 1 year MCLR i.e., 8.95% p.a.

CICs score of less than 700

1.25% above 1 year MCLR i.e., 9.25% p.a.