SBI Xpress Power Loan Interest Rates 2022, Eligibility

About SBI Xpress Power– It is Unsecured Personal Loan check Interest Rates, Eligibility Criteria, Required Documents, Repayment Period, Processing Fees, Loan Amount.

SBI Xpress Power Personal Loan from SBI to Salaried Employees not maintaining a salary account with SBI Bank. It provides Term Loan and Overdraft facility to the customers.

SBI Xpress Loan Power Loan Features

  • Lowest Rate of Interest.
  • Zero hidden costs.
  • Without SBI salary account.
  • Minimum documentation.
  • Term Loans & Overdraft facility.
  • Repayments through NACH / SI.

SBI Xpress Power Loan Quick Apply

Professional Details
Loan Amount
Yearly Income
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SBI Xpress Power Loan Interest Rates

Interest Rates 11.60% – 13.25%
Loan Amount Min. Rs.25,000/- to Max.Rs 15.00 lacs
Processing Fee 1.5% of the loan amount plus the Applicable tax. (subject to min. ₹1000/- up to ₹15000/-)
Repayment Period Up to 5 years

SBI Xpress Power Loan Term Loan and Overdraft

Facility Type 2-year MCLR Over 2-year MCLR Effective Interest Rate
Term Loan 8.10% 3.50% – 5.15% 11.60 – 13.25%
Overdraft 8.10% 4.00% – 5.65% 12.10 – 13.75%

Following category of borrowers will get special concessions under SBI Xpress Power Loan scheme

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

SBI Xpress Power Loan Eligibility

  • Salaried Individuals, not maintaining salary account with SBI.
  • Term Loan Amount Eligibility – Rs. 25,000 to 24 times NMI / Rs. 15 lakhs.
  • Overdraft Loan Amount Eligibility – Rs. 5 lakh to 24 times NMI / Rs. 15 lakhs.
  • Needs an EMI/NMI ratio: Up to 50%
  • Employees working with Central/ State Governments/ Defence Establishments, Quasi-Government Bodies, PSUs, Educational Institutions of National Repute, Select Rated Corporate.
  • Income Requirement – Minimum Gross Monthly Income of Rs.50,000.

SBI Xpress Power Loan Required Documents

  1. Photographs.
  2. Proof of Address: Voter ID/ Utility Bills and more
  3. Proof of identity: Passport/voter ID card/driving license.
  4. Latest salary slip.
  5. Current dated salary certificate with the latest Form 16.
  6. Latest Bank statement.