PERSONAL LOAN SCHEMES - Rate of Interest (w.e.f. 10.05.2019)

I. XPRESS CREDIT(including PAXC-Pre-Approved Xpress Credit)


Mean ROI for the quarter Oct-Dec’18 - 13.05%


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
8.55% 3.40% - 3.90% 11.95% - 12.45%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 3.90% - 4.40% 12.45% - 12.95%

B. For Other Applicants


i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 3.40% - 5.40% 11.95% - 13.45%

C. For Other Corporate Salary Package (CSP) Applicants:


i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 4.40% - 5.40% 12.95% - 13.95%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 4.90% - 5.90% 13.45% - 14.45%

Note for loans under Xpress Credit scheme: Following category of borrowers will get special concessions:


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
Platinum Salary Package customers 50 bps in Rate of Interest
Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status 50 bps in Rate of Interest

*Subject to condition that total concession shall not exceed 100 bps and Salary account is linked to respective Employer Code wherever applicable.


II. XPRESS POWER SCHEME

 


i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 3.50% - 5.15% 12.05% - 13.70%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 4.00% - 5.65% 12.55% - 14.20%

Note for loans under Xpress Power scheme: Following category of borrowers will get special concessions:


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


III. XPRESS CREDIT – IT EMPLOYEES SCHEME

 

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 4.80% - 6.80% 13.35% - 15.35%

IV. XPRESS ELITE SCHEME

 

i. SBI Salary Package A/c Holders:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.55% 2.40% - 3.90% 10.95% - 12.45%

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
8.55% 2.65% - 4.15% 11.20% - 12.70%


V. 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
8.55% 4.30% - 6.40% 12.85% - 14.95%

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
8.55% 5.05% - 6.65% 13.60% - 15.20%


VII. OTHER UNSECURED PERSONAL LOANS

 


Mean ROI for Pension Loan the Oct-Dec’18 - 11.96%

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)

8.55%

3.35%-3.85%

11.90%-12.40%

Clean Overdraft

8.55%

8.45%

17.00%

Xpress Credit Insta Top-Up

8.55%

3.50%

12.05%

Pre-Approved Personal Loans (PAPL)

8.50%

5.60%

14.05%