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Whether it’s your wedding or a vacation, unplanned emergency or planned purchase, get quick approval and instant disbursal with minimal documentation through SBI’s Xpress Credit Personal Loan for all your needs.

• Loan up to 20 lakhs. • Minimal documentation
• Low interest rates. • Zero hidden costs.
• Interest on daily reducing balance. • Provision for second Loan
• Low processing charges. • No security, no guarantor.
  • • Individuals with Salary Account with SBI.
  • • Minimum monthly income Rs. 15000/.
  • • EMI/NMI Ratio less than 50%.
  • • Employees working with
    • Central/ state/ quasi government,
    • Central PSUS and profit making state PSUS,
    • Educational institutions of national repute,
    • Selected corporates with or without relationship with the bank.
  • • Term Loans Amount
    • Minimum Loan Amount – Rs. 25,000
    • Maximum Loan Amount – Rs. 20 lakhs / 24 times NMI
  • • Overdraft Loans Amount
    • Minimum Loan Amount – 5 lakhs
    • Maximum Loan Amount – Rs. 20 lakhs / 24 times NMI
  • • Second Loan is eligible any time after disbursement of first loan, subject to the overall EMI/NMI ratio of 50%.
  • • Second Loan is eligible only on regular EMI repayments of the first loan.

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Terms and Conditions:
  • Processing fee of 1% of the Loan Amount + applicable Tax.

  • Penal Interest @2% p. m would be charged over and above the applicable interest rate on overdue amount for the period of default.

  • Prepayment charges of 3% on prepaid amount. No prepayment/ foreclosure charges if account is closed from the proceeds of a new loan account under same scheme.

  • Minimum repayment period is of 6 months and maximum repayment period is of 6 years or remaining period of service (whichever is lower).

How to Apply?
  • Manual applications available at all branches of SBI or digital application through YONO App.