Personal Loans Schemes

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Personal Loans Schemes

PERSONAL LOAN SCHEMES - Rate of Interest (w.e.f. 10.05.2020)

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
7.45% 3.40% - 3.90% 10.85% - 11.35%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.45% 3.90% - 4.40% 11.35% - 11.85%

B. For Other Applicants:

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.45% 3.40% - 5.40% 10.85% - 12.85%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.45% 3.90% - 5.90% 11.35% - 13.35 %

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
7.45% 2.40% - 3.90% 9.85% - 11.35%

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
7.45% 2.65% - 4.15% 10.10% - 11.60%

 

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
7.45% 4.30% - 6.40% 11.75% - 13.85%

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
7.45% 5.05% - 6.65% 12.50% - 14.10%

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) 7.45% 3.35%-3.85% 10.80%-11.30%
Clean Overdraft 7.45% 8.45% 15.90%
Xpress Credit Insta Top-Up 7.45% 3.50% 10.95%
Other Unsecured Personal Loan
Scheme 1 year MCLR Spread over 2 year MCLR Effective Interest Rate Reset
Pre-Approved Personal Loans (PAPL) 7.25% 5.60% 12.85%
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		 7.45% 3.65 - 5.65% 11.10% - 13.10%

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


Interest Rates

7.35% p.a.

w.e.f. 01.05.2020

*T&C Apply.

 

 

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