PERSONAL LOAN SCHEMES - Rate of Interest (w.e.f. 10.10.2019)

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

Mean ROI for the quarter APR-JUNE 19  - 13.11%

 

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
8.15% 3.40% - 3.90% 11.55% - 12.05%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.15% 3.90% - 4.40% 12.05% - 12.55%

 

B. For Other Applicants:

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.15% 3.40% - 5.40% 11.55% - 13.55%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.15% 3.90% - 6.40% 12.05% - 14.55%

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

Criteria Concession Offered
Where ‘Check-Off’ is provided. 50 bps in Rate of Interest
Loan amount >= Rs 10,00,000. 50 bps in Rate of Interest

 

II. XPRESS POWER SCHEME

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.15% 3.50% - 5.15% 11.65% - 13.30%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.15% 4.00% - 5.65% 12.15% - 13.80%

 

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

Criteria Concession Offered
Where ‘Check-Off’ is provided. 50 bps in Rate of Interest
Loan amount >= Rs 10,00,000. 50 bps in Rate of Interest

 

III. XPRESS CREDIT – IT EMPLOYEES SCHEME

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.15% 4.80% - 6.80% 12.95% - 14.95%

 

IV. XPRESS ELITE SCHEME

i. SBI Salary Package A/c Holders:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.15% 2.40% - 3.90% 10.55% - 12.05%

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
8.15% 2.65% - 4.15% 10.80% - 12.30%

 

V. 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
8.15% 4.30% - 6.40% 12.45% - 14.55%

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
8.15% 5.05% - 6.65% 13.20% - 14.80%

VI. OTHER UNSECURED PERSONAL LOANS

Mean ROI for Pension Loan the APR-JUNE’19 - 12%

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)

8.15%

3.35%-3.85%

11.50%-12.00%

Clean Overdraft

8.15%

8.45%

16.60%

Xpress Credit Insta Top-Up

8.15%

3.50%

11.65%

Other Unsecured Personal Loan

Scheme

1 year MCLR50

Spread over 2 year MCLR/

 

Effective Interest Rate with No Rest

Pre-Approved Personal Loans (PAPL)

8.05%

5.60%

13.65%

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

8.15%

3.55 - 5.65%

11.70% - 13.80%

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