Personal Loans Schemes - Interest Rates
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’21 – 10.90%
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’21 – 9.83%
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)
Last Updated On : Tuesday, 08-06-2021

Interest Rates
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
5.45%
3 years to less than 5 year
5.50%
5 years to less than 10 years
Loan Schemes Landing

Loan Against Securities And Consumer Durable Loans

Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
5.45%
3 years to less than 5 year
5.50%
5 years to less than 10 years