SBI Xpress Credit Personal Loan 2023, Eligibility
State Bank of India Xpress Credit Loan apply online. Compare Interest Rates ✓ SBI Xpress Credit Personal Loan Calculator ✓ Check Eligibility ✓ Best Offers ✓ Instant Approval ✓ Application Status with Us.
Xpress credit scheme for those who want a cash loan from SBI on urgent basis be it a sudden vacation that you plan with your family, whether it’s your wedding, or urgent funds required for medical treatment and more.
Interest Rate starts at 11.50% , with low processing fee at (1.50% of the Loan Amount + applicable Service Tax).
SBI Xpress Credit Loan Highlights
Key Features of SBI Xpress Credit Personal loan
- Avail Loan max. of 20 lakhs.
- Interest on daily reducing basis.
- Low interest Rates.
- Low processing charges.
- Minimal documentation.
- Provision for 2nd loan.
- No security, guarantor.
- No Hidden Cost / Administrative charges.
Apply online for SBI Xpress Credit Personal Loan
Eligibility Criteria for Xpress Personal Loan SBI
- Income Required – Minimum net monthly income of Rs.15000/-.
- Term Loan – Minimum loan amount – Rs.25,000/- and maximum 24 times NMI subject to a maximum of Rs 15.00 lacs.
- Overdraft – Minimum loan amount – Rs.5.00 lacs and maximum 24 times NMI subject to a maximum of Rs 15.00 lacs.
- Ratio – EMI (Equated monthly installment)/NMI (Net monthly income) Ratio less than 50%.
- Repayment period – 6 month minimum up to 6 years.
- Eligible Borrowers – Central/ state/ quasi government, central PSUS and profit making state PSUS, educational institutions of national repute, selected corporate with or without relationship with the bank.
SBI Xpress Credit Personal Loan Interest Rates
For Defence/ Para-Military/ Indian Coast Guard Salary Package Applicants
| Facility Type | 2 Year MCLR | Spread over 2 years MCLR | Interest Rates |
| Term Loan | 8.10% | 3.40% – 3.90% | 11.50% -12.00% |
| Overdraft | 8.10% | 3.90% – 4.40% | 12.00% -12.50% |
For Other Applicants
| Facility Type | 2 Year MCLR | strong>Spread over 2 years MCLR | Interest Rates |
| Term Loan | 8.10% | 3.40% – 5.40% | 11.50% -13.50% |
| Overdraft | 8.10% | 3.90% – 6.40% | 12.00% -14.50% |
Special concessions rates for the following category of borrowers
| 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 |
What is Personal Loan EMI?
Personal Loan EMI is the ‘Equated Monthly Installment’ that you pay until the final repayment of your personal loan. EMI is a simple monthly break-up of the total principal plus interest amount for the purpose of easy repayment. Personal loan EMI Calculator helps you to determine your exact EMI in correspondence with your desired loan amount, loan tenure and interest rate.
For calculate monthly EMI, enter your required loan amount, interest rate & repayment period. Example if you take 2.30 lakh of the loan amount at 12.50% ROI for 4 years your EMI would be Rs.6113.40 per month.
Other Available Products of State Bank of India