SBI PERSONAL LOAN (X-PRESS CREDIT)

SBI offers hassle free personal loan to meet your current financial needs such as a medical emergency, home renovation, wedding expenses etc. State Bank of India personal loan provides flexibility to use the funds as per your need.

SBI PERSONAL LOAN

(X-PRESS CREDIT)

SBI offers hassle free personal loan to meet your current financial needs such as a medical emergency, home renovation, wedding expenses etc. State Bank of India personal loan provides flexibility to use the funds as per your need.

SBI personal loan schemes:

SBI Pension Loan

Xpress Credit

Xpress ELITE

TARGET GROUP

SALARIED PERSONS

Age Bracket of 21-60 years

WHO CAN APPLY

Employees of the following institutions can apply:

Central, state, or quasi government bodies

Central PSUS or profit-making State PSUs

Nationally recognised educational institutions

Educational Institutions of National Repute

Selected Corporates who have business relationship with the Bank

Corporates who do not have business relationship with the Bank as well as do not have ECR, subject to certain terms and conditions

QUANTUM OF LOAN

MAX LOAN AMOUNT: Rs. 20 Lacs

TYPES OF SBI PERSONAL LOAN:

TERM LOAN.

OVERDRAFT.

Term Loan:

MINIMUM: Rs.25,000/-

MAXIMUM:

24 times NMI (Net Monthly Income) subject to maximum of Rs 20.00 lacs.

Overdraft:

Minimum: Rs.5.00 lacs

24 times NMI subject to maximum of

Maximum: Rs 20.00 lacs.

The OD will be subject to monthly reduction in DP so that DP becomes NIL in 60 months

Note:

Max loan amount for School Teachers is

capped at 12 months Gross Salary

No end useVerification.

RATE OF INTEREST

For para-military, defence, or Indian Coast Guard personnel:

Term Loan facility

Interest rate is 11.50% to 12.00% p.a.

Overdraft facility

Interest rate is 12.00% to 12.50% p.a.

RATE OF INTEREST FOR OTHERS:

Term Loan facility

Interest rate is 11.50% to 13.50% p.a.

Overdraft facility

Interest rate is 12.00% to 14.50% p.a.

The interest is calculated on daily reducing balance.

LOAN REPAYMENT PERIOD

Minimum:

06 months

Maximum:

72 months or residual service period whichever is less

LOAN SECURITY:

NIL (No Collateral Security Required)

LOAN MARGIN:

NIL (No Margin)

Third Party Guarantee:

Nil (No Guarantor Required)

ELIGIBILITY CRITERIA:

The following individuals are eligible to apply for the

SBI Xpress Credit Personal Loan:

Borrowers with an SBI salary account

Individuals with minimum monthly income of Rs.15,000

Individuals with EMI/NMI ratio less than 50%

DOCUMENTS REQUIRED

DULY FILLED APPLICATION FORM

IDENTITY AND ADDRESS PROOF

INCOME PROOF

DOCUMENTS TO BE SUBMITTED BY A SALARIED PERSON INCLUDES:

PAN CARD

ADDRESS PROOF:

Aadhar Card /passport/ Voter ID Card /electricity bill/Driving License

Last 06 months bank statement

Last 03 months salary slip.

Latest Form 16

How To Apply For SBI Personal Loan

OFF LINE MODE

Individuals can apply for the loan through all SBI bank branches

ONLINE MODE FOR SBI PERSONAL LOAN APPLICATION

By visiting official website of SBI direct link given below:

https://onlineapply.sbi.co.in/personal-banking/personal-loan

FILL THE FORM AS GIVEB BELOW AND PRESS SUBMIT

BY DOWNLOADING SBI YONO APP FROM ANDROID PLAY STORE

Processing Charges/Fees:

1% of the Loan Amount + GST

Penal Interest for SBI Personal Loan:

Penal Interest @2% p.a. over and above the applicable interest rate on the overdue amount for the period of default.

Prepayment Charges:

Any prepayment of EMIs in full or in part and closure of account before the end of term will attract the prepayment charges of 3% on prepaid amount.

No prepayment/ foreclosure charges will be applicable if the account is closed from the proceeds of a new loan account opened under the same scheme.

Provision for 2nd Loan:

Second Loan can be taken after 1 year of disbursement of the 1^st loan provided the 1^st loan has been satisfactorily conducted and is regular at the time of sanction of 2nd Loan.

TOLL FREE NUMBERS FOR STATUS OF YOUR LOAN APPLICATION SUBMITTED THROUGH ONLINE OR APPLIED OVER PHONE ROUND THE CLOCK

1800 112 211

1800 425 3800

080 26599990

COMPLAINTS AND GRIEVANCES (SBI PERSONAL LOAN)

If a customer is not satisfied with the handling of grievance by the Local Head Office,

Forward your complaint to the:

(ALSO ENCLOSE A COPY OF THE COMPLAINT EARLIER LODGED TO LOCAL HEAD OFFICE)

Deputy General Manager (Customer Service),

Customer Service Dept, State Bank of India;

State Bank Bhawan, 4th floor;

Madame Cama Road, Mumbai-400 021,