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Do you want funds readily available to you whenever you desire or need, be it a sudden vacation that you plan with your family or urgent funds required for medical treatment? SBI Xpress Credit Personal Loan is the answer to your questions.

Enjoy the SBI Advantage:
  • Low interest rates. Further, we charge interest on a daily reducing balance!!

  • Low processing charges;

  • No hidden costs /administrative charges.

  • No security required, minimal documentation…something that you had always wanted.


We provide personal loans to theemployees of undernoted entitiesmaintaining salary account with us at zero margin, and very competitive interest rates with fast and easy processing:

  • Central and state Government

  • Quasi-Government

  • Central PSUs

  • Profit making State PSUs

  • 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

  • Minimum NMI: Rs.5000/-

  • EMI/NMI Ratio should not exceed 50%

Loan Amount
(i) Term Loan:
  • Min: Rs.25,000/-

  • Maximum: 24 times NMI subject to maximum of Rs 15.00 lacs.

(ii) Overdraft:
  • Minimum: Rs.5.00 lacs,

  • Maximum: 24 times NMI subject to maximum of Rs 15.00 lacs.

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

Note: Maximum loan amount for School Teachers is capped at 12 months Gross Salary both under Term Loan and Overdraft facility

Repayment Period
  • Maximum 72 months or residual service period whichever is less

Provision for 2nd Loan

Second Loan can be taken after 1 year of disbursement of the 1st loan provided the 1st loan has been satisfactorily conducted and is regular at the time of sanction of 2nd Loan. There cannot be more than 2 Xpress Credit Loans standing in the name of a borrower. However this is subject to the overall EMI/NMI ratio of 50%

Margin : Nil

Security : Nil

Third Party Guarantee : Nil

Processing Fees

1% of the Loan Amount + GST

Festival Offer: Nil Processing Fee till 30th November 2018

Penal Interest

Penal Interest @2% p.a. would be charged over and above the applicable interest rate on the overdue amount for the period of default. If part instalment or part EMI remains overdue then penal interest should not be levied.

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

Interest Rate

Refer to the Interest Rate page