Interest Rates

Business FX-RetailInterest Rates Perquisite CalculationNew Pension System NPS
Show More
Forms Personal BankingFormsApply Online FormInterest RatesCountryFintech Innovation Incubation ProgramLiberalized Credit For SSIIT - ISEPSME AssistTransaction Banking UnitRate on Export CreditStructured Mechanism for MSE SectorMerchant Acquiring Business
Interest Rates




Interest Rates for the purpose of computing perquisite valuation

Home Loans (Term Loan)

 

ROI FOR REH PRODUCTS WEF 01.04.2024

RBI REPO : 6.5%/BANK MARKUP / SPREAD : 2.65%/EBR : 9.15%

REGULAR HOME LOAN INCLUDING FLEXIPAY, NRI, NON-SALARIED PRIVILEGE / SHAURYA, APON GHAR

CIBIL SCORE APP CRP BSD TERM LOAN MAX GAIN
CRP EFF RATE CRP + PREM EFF RATE
> = 800 0.00% 0.00% 0.00% 9.15% 0.40% 9.55%
750 - 799 0.10% -0.10% 0.10% 9.15% 0.50% 9.55%
700 -749 0.20% 0.00% 0.20% 9.35% 0.60% 9.75%
650 - 699 0.30% 0.00% 0.30% 9.45% 0.70% 9.85%
550 - 649 0.50% 0.00% 0.50% 9.65% 0.90% 10.05%
< 550 1.00% 0.00% 1.00% 10.15% 1.40% 10.55%
NTC = "101-150" 0.30% 0.00% 0.30% 9.45% 0.70% 9.85%
NTC = "151-200" 0.20% 0.00% 0.20% 9.35% 0.60% 9.75%
NTC / NO SCORE / -1 0.20% 0.00% 0.20% 9.35% 0.60% 9.75%

 

CRE HOME LOAN INCLUDING FLEXIPAY, NRI, NON-SALARIED PRIVILEGE / SHAURYA, APON GHAR

CIBIL SCORE APP CRP BSD TERM LOAN MAX GAIN
CRP EFF RATE CRP + PREM EFF RATE
> = 800 0.00% 0.00% 0.20% 9.35% 0.50% 9.65%
750 - 799 0.10% -0.10% 0.30% 9.35% 0.60% 9.65%
700 -749 0.20% 0.00% 0.40% 9.55% 0.70% 9.85%
650 - 699 0.30% 0.00% 0.50% 9.65% 0.80% 9.95%
550 - 649 0.50% 0.00% 0.70% 9.85% 1.00% 10.15%
< 550 1.00% 0.00% 1.20% 10.35% 1.50% 10.65%
NTC = "101-150" 0.30% 0.00% 0.50% 9.65% 0.80% 9.95%
NTC = "151-200" 0.20% 0.00% 0.40% 9.55% 0.70% 9.85%
NTC / NO SCORE / -1 0.20% 0.00% 0.40% 9.55% 0.70% 9.85%

 

TOPUP LOAN

CIBIL SCORE APP CRP BSD TERM LOAN OVERDRAFT
CRP EFF RATE CRP + PREM EFF RATE
> = 800 0.00% 0.00% 0.40% 9.55% 0.70% 9.85%
750 - 799 0.10% -0.10% 0.50% 9.55% 0.80% 9.85%
700 -749 0.20% 0.00% 0.60% 9.75% 0.90% 10.05%
650 - 699 0.30% 0.00% 0.70% 9.85% 1.00% 10.15%
550 - 649 0.50% 0.00% 1.00% 10.15% 1.30% 10.45%
< 550 1.00% 0.00% 1.10% 10.25% 1.40% 10.55%
NTC = "101-150" 0.30% 0.00% 0.70% 9.85% 1.00% 10.15%
NTC = "151-200" 0.20% 0.00% 0.60% 9.75% 0.90% 10.05%
NTC / NO SCORE / -1 0.20% 0.00% 0.60% 9.75% 0.90% 10.05%

 

REALTY LOAN

CIBIL SCORE APP CRP BSD TERM LOAN CRE
TERM LOAN
CRP EFF RATE CRP + PREM EFF RATE
> = 800 0.00% 0.00% 0.30% 9.45% 0.50% 9.65%
750 - 799 0.10% -0.10% 0.40% 9.45% 0.60% 9.65%
700 -749 0.20% 0.00% 0.50% 9.65% 0.70% 9.85%
650 - 699 0.30% 0.00% 0.60% 9.75% 0.80% 9.95%
550 - 649 0.50% 0.00% 0.70% 9.85% 0.90% 10.05%
< 550 1.00% 0.00% 1.50% 10.65% 1.70% 10.85%
NTC = "101-150" 0.30% 0.00% 0.60% 9.75% 0.80% 9.95%
NTC = "151-200" 0.20% 0.00% 0.50% 9.65% 0.70% 9.85%
NTC / NO SCORE / -1 0.20% 0.00% 0.50% 9.65% 0.70% 9.85%

 

TRIBAL PLUS

CIBIL SCORE APP CRP BSD TERM LOAN
CRP + PREM EFF RATE
> = 800 0.00% 0.00% 0.10% 9.25%
750 - 799 0.10% -0.10% 0.20% 9.25%
700 -749 0.20% 0.00% 0.30% 9.45%
650 - 699 0.30% 0.00% 0.40% 9.55%
550 - 649 0.50% 0.00% 0.60% 9.75%
< 550 1.00% 0.00% 1.10% 10.25%
NTC = "101-150" 0.30% 0.00% 0.40% 9.55%
NTC = "151-200" 0.20% 0.00% 0.30% 9.45%
NTC / NO SCORE / -1 0.20% 0.00% 0.30% 9.45%

P-LAP(for All Borrowers inclusive of Salaried / Non-Salaried & Income from Salary / Rental Income)

CIBIL SCORE APP CRP BSD TERM LOAN
CRP EFF RATE
> = 800 0.00% 0.00% 1.75% 10.90%
750 - 799 0.10% -0.10% 1.85% 10.90%
700 -749 0.20% 0.00% 1.95% 11.10%
650 - 699 0.30% 0.00% 2.05% 11.20%
550 - 649 0.50% 0.00% 2.15% 11.30%
< 550 1.00% 0.00% 2.50% 11.65%
NTC = "101-150" 0.30% 0.00% 2.05% 11.20%
NTC = "151-200" 0.20% 0.00% 1.95% 11.10%
NTC / NO SCORE / -1 0.20% 0.00% 1.95% 11.10%
SMART HOME TOPUP REVERSE MORTGAGE LOAN EMD INSTA TOPUP
YONO & INB		 HL FOR
EMP OF GOVT OF KERALA
TERM LOAN OVERDRAFT PUBLIC STAFF TERM LOAN OVERDRAFT TERM LOAN MAX GAIN
CRP EFF RATE CRP EFF RATE CRP EFF RATE CRP EFF RATE CRP EFF RATE CRP CONV FEE EFF RATE CRP EFF RATE CRP EFF RATE
0.60% 0.60% 1.00% 1.00% 2.40% 2.40% 1.40% 1.40% 3.80% 3.80% 0.50% 0.10% 0.60% 0.15% 0.15% 0.55% 0.55%

IMPORTANT INSTRUCTIONS

NO HOME LOANS TO BE SANCTIONED FOR CIBIL SCORE BELOW "550"

  • 1) 0.05% CONCESSION AVAILABLE TO WOMEN BORROWERS SUBJECT TO MINIMUM EBR i.e 9.15%
  • 2) PREMIUM OF 0.10% TO CARD RATE FOR LOANS UPTO RS. 30 LACS FOR LTV > 80% & <= 90%
  • 3) TOPUP LOAN ABOVE RS. 2.00 CRORES NOT PERMITTED UNDER OVERDRAFT
  • 4) 0.05% CONCESSION UNDER PRIVILEGE & SHAURYA HL & Apon Ghar HL
  • 5) INTEREST RATE ON TOPUP LOAN SHOULD NEVER BE BELOW THE RATE OF INTEREST CHARGED ON THE UNDERLYING HOME LOAN (IF UNDERLYING HL IS AT HIGHER ROI FOR AN INFERIOR CIBIL AND LOWER ROI IS APPLICABLE ON TOPUP LOAN BECAUSE OF IMPROVEMENT IN CIBIL SCORE - THE ROI ON TOPUP LOAN WILL BE MINIMUM THE ROI CHARGED ON HOME LOAN
  • 6) INTEREST RATE ON SURAKSHA LOAN ACCOUNTS WILL BE AS PER THE UNDERLYING HOME LOAN ACCOUNT INTEREST RATE"

 

 

ROI FOR REH PRODUCTS WEF 01.04.2022

EBR @ 6.65 A (Repo Rate- 4.00 % +2.65%)

HOME LOANS(Term Loans)

Step Up CRP Based On Credit Score (CIBIL):

Loan Amt CRP linked to Credit score

All Loan Limits Irrespective of Salaried and Non- Salaried
/ProfessionaI & self- employed etc

Credit score
(CIBIL)

Step up CRP starting Rate:
6.65 + 0.00 = 6.65 %

Effective Rate

>=800

EBR + 00 bps

ER 6.65 %

750—799

EBR + 10 bps

ER 6.75 %

700—749

EBR + 20 bps

ER 6.85%

650 — 699

EBR + 30 bps

ER 6.95%

0 — 649

 EBR + 50 bps

ER 7.15 %

NTC / No CIBIL
score /-1

EBR + 20 bps

ER 6.85 %

<550

 Not eligible

 

HOME LOANS (MAXGAIN)

40 bps over applicable Home- Term loan interest rate for all loan limit (>=Rs 20 lacs & upto Rs 3 crs).

Other Conditions Applicable:

1

05 bps concession will be available to women subject to minimum EBR i.e 6.65%

2

A premium of 10 bps will be added to the Card Rate for Loan up to Rs 30 Lacs if LTV ratio is >80% & <=90%.

3

Minimum threshold for CIBIL score is 550, below which NO LOAN will be sanctioned

Discontinued I NOT applicable any longer - Remaining conditions (05 bps concession for digitally sourced loan in YONO, premium of 10 bps for customer who falls under RG (4 to 6), premium of 15 bps for non-salaried customers etc )}

OTHER HOME LOAN VARIANTS

Other HL Product ROI Structure wef 01.04.2022

CRE Home Loan

Term  Loan  -  An  additional  20  bps  premium  will  be added to the applicable home loan (TL) ROI.
Maxgain - An additional 50 bps premium will be added to the applicable home loan (TL) ROI.

Privilege Scheme & Shaurya Scheme

5 bps concession over applicable home loan rates if Maintaining salary a/c with SBI under salary packages. (Subject to Effective rate NOT below EBR, presently 6.65%).

Realty Loans

CIBIL Score

CRP

ER

>=800

EBR + 0.30%

6.95%

750 - 799

EBR + 0.40%

7.05%

700 - 749

EBR + 0.50%

7.15%

650 - 699

EBR + 0.60%

7.25%

550 - 649

EBR + 0.70%

7.35%

NTC

EBR + 0.50%

7.15%

<550

Not eligible

Step up CRP based on Credit score-

Tribal Plus

(No change) An additional 10 bps will be added to the final rate.

Home loan to Kerala Govt

(No change)EBR+15 bps ER : 6.80%

Apon Ghar

(No change)
The rate applicable will be as applicable to the beneficiaries of SBI Privilege Scheme.

Suraksha Loans

(No change) Same rate as applicable to underlying home loan account

RML

(No change)
For Public: EBR + 240 bps ER: 9.05% For SBI staff Pensioners : EBR + 140 bps ER : 8.05%

EMD

(No change) EBR + 380 bps ER : 10.45%

Flexipay, NRI, PMAY,Differential Offerings

As per Home Loans rates

HOME TOP UP LOANS ROI Structure wef 01.04.2022

Loan Amt TERM LOAN OVER DRAFT

All Loan
Limits

Increment /zasez/ on current CIBIL score as under :

Upto Rs 20 lacs) - NA

Not below the underlying home loan rate

Loan amt >= 20 lacs & upto Rs 2 crs -
30 bps over applicable TL top Up Rate
{ER 7.35%  to 7.95 %}

Current CIBIL score

Increment 

ER

(loan a6ove Rs 2 cr) — NA

>=800

EBR + 40 bps

7.50%

750 to 799

EBR + 50 bps

7.15%

700 to 749

EBR + 60 bps

7.25%

650 to 699

EBR + 70 bps

7.35%

550 to 649

EBR + 100 bps

7.65%

<550

Not eligible

Other Top Up Loans (Loan Quantum Upto Rs 8 lacs)

Type of Top Up Term Loan   Overdraft  

 

CRP

ER

CRP

 ER

Yono Insta Top Up

NA

NA

EBR + 50 bps + Convenience fee 10 bps

7.25%

Insta Home top up

Smart Top Up

EBR+ 60 bps

7.25%

EBR + 100 bps

7.65%

P-LAP ROI Structure wef 01.04.2022

Loan Amt/borrower type Step Up CRP Based On Credit score (CIBIL) score

All Loan Limits irrespective of Salaried / Non- Salaried and residential /  commercial property etc

Credit  score

Step up CRP

Effective Rate

>=800

EBR + 175 bps

ER 8.40 %

750 —799

EBR + 185 bps

ER 8.50 %

700-749

EBR + 185 bps

ER 8.60 %

650-699

EBR + 205 bps

ER 8.70 %

 

550 — 649

EBR + 215 bps

ER 8.80 %

 

NTC / No CIBIL score /-1

EBR + 195 bps

ER 8.60 %

 

<550

Not eligible

Personal Loan Schemes

PERSONAL LOAN SCHEMES - Rate of Interest

2-year MCLR @ 8.75%

Mean ROI for Xpress Credit (Q3 FY24): 12.32%

 

I. XPRESS CREDIT SCHEME [including Pre-Approved Xpress Credit  (PAXC)/ RTXC/ RMP Xpress Credit]

 

A. Applicants of Defence/ Central Armed Police/ Indian Coast Guard

Spread over 2-year MCLR Effective Interest Rate with No Reset
2.40% - 3.90% 11.15% - 12.65%

 

B. Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status

Spread over 2-year MCLR Effective Interest Rate with No Reset
2.55% - 5.05% 11.30% - 13.80%

 

C. Applicants of Other Corporates

Spread over 2-year MCLR Effective Interest Rate with No Reset
4.55% - 5.55% 12.30% - 14.30%

 

II. XPRESS ELITE SCHEME (including RTXC Elite)

Salary Account with SBI:

Spread over 2-year MCLR Effective Interest Rate with No Reset
2.40% - 2.90% 11.15% - 11.65%

 

Salary Account with another Bank:

Spread over 2-year MCLR Effective Interest Rate with No Reset
2.65% - 3.15% 11.40% - 11.90%

 

III. XPRESS FLEXI SCHEME (Overdraft Facility)

0.25% higher than I. Xpress Credit scheme for Diamond Salary Package customers and II. Xpress Elite scheme for Platinum Salary Package customers

 

IV. XPRESS LITE SCHEME

1% higher than I. Xpress Credit scheme for all brackets

 

V. SBI QUICK PERSONAL LOAN SCHEME THROUGH CLP PORTAL (i.e., https://www.sbiloansin59minutes.com)

(for customer not maintaining salary account with SBI)

0.25% higher than I. Xpress Credit Scheme for all Brackets

 

VI. XPRESS CREDIT INSTA TOP-UP LOANS

Spread over 2 year MCLR Effective Interest Rate with No Reset
3.65% 12.40%

 

VII. PRE-APPROVED PERSONAL LOANS (PAPL) TO NON-CSP CUSTOMERS

Spread over 2 year MCLR Effective Interest Rate with No Reset
5.05% - 5.55% 13.80% - 14.30%

 

VIII. PENSION LOAN SCHEMES

Mean ROI for Pension Loan (Q3 FY24): 11.33%

Scheme Spread over 2-year MCLR Effective Interest Rate with No Reset
SBI Pension Loan 2.55% 11.30%
Jai Jawan Pension Loan 2.55% 11.30%
Pension Loan Scheme For Treasury & PSU Pensioners 2.55%-3.05% 11.30% - 11.80%
Pre-Approved Pension Loans(PAPNL) 2.55% 11.30%
Pre-approved Insta Pension Top-Up 2.55% 11.30%

 

State Bank of India: Interest Rates on 1st APRIL, 2023
For the purpose of computing perquisite valuation

Interest rates as on 1st April, 2023 on various loans in Personal Segment advances are as under:

PERSONAL LOAN SCHEMES - Rate of Interest

I. XPRESS CREDIT SCHEME

A. Applicants of Defence/ Central Armed Police/ Indian Coast Guard

2-year MCLR Spread over 2-year MCLR Effective Interest Rate with No Reset
8.60% 2.40% - 3.90% 11.00% - 12.50%

B. Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status

2-year MCLR Spread over 2-year MCLR Effective Interest Rate with No Reset
8.60% 2.40% - 4.90% 11.00% - 13.50%

C. Applicants of Other Corporates

2-year MCLR Spread over 2-year MCLR Effective Interest Rate with No Reset
8.60% 2.40% - 4.90% 11.00% - 13.50%

II. XPRESS ELITE SCHEME

Salary account with SBI:

2-year MCLR Spread over 2-year MCLR Effective Interest Rate with No Reset
8.60% 2.40% - 2.90% 11.00% - 11.50%

Salary Account with another Bank:

2-year MCLR Spread over 2-year MCLR Effective Interest Rate with No Reset
8.60% 2.65% - 3.15% 11.25% - 11.75%

III. XPRESS FLEXI SCHEME (Overdraft Facility) 0.25% higher than I. Xpress Credit scheme for Diamond Salary Package customers and II. Xpress Elite scheme for Platinum Salary Package customers

IV. XPRESS LITE SCHEME

1% higher than I. Xpress Credit scheme for all brackets

V. SBI QUICK PERSONAL LOAN SCHEME THROUGH CLP PORTAL (i.e., https://www.sbiloansin59minutes.com) (for customer not maintaining salary account with SBI) 0.25% higher than I. Xpress Credit Scheme for all Brackets

 

VI. XPRESS FLEXI SCHEME (Overdraft Facility)

2-year MCLR Spread over 2-year MCLR Effective Interest Rate with No Reset
8.60% 3.50% 12.10%

VII. PENSION LOAN SCHEMES

Scheme 2-year MCLR Spread over 2-year MCLR Effective Interest Rate with No Reset
SBI Pension Loan 8.60% 2.55% 11.15%
Jai Jawan Pension Loan 8.60% 2.55% 11.15%
Pension Loan to Treasury/ PSU Pensioners 8.60% 2.55%- 3.05% 11.15%- 11.65%
Pre-Approved Pension Loans (PAPNL) 8.60% 2.55% 11.15%
Pre-approved Insta Pension Top-Up 8.60% 2.55% 11.15%

State Bank of India: Interest Rates on 1st APRIL, 2022
For the purpose of computing perquisite valuation

Interest rates as on 1st APRIL, 2022 on various loans in Personal Segment advances are as under

External Bench Mark lending Rate (EBR):6.65%

PERSONAL LOAN SCHEMES – RATE OF INTEREST

A. For Defence/ Para-Military/ Indian Coast Guard Salary Package Applicants
CIC Score (CIBIL CV Score 2-year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset

≥ 670

7.20%

3.40%

10.60%

650-669

7.20%

3.90%

11.10%

B. For Central Govt. Salary Package/ State Govt. Salary Package/ Police Salary Package/ Railway Salary Package/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status Applicants and for applicants of identified reputed Corporates.

CIC Score (CIBIL CV Score 2-year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset

≥ 761

7.20%

3.40%

10.60%

735-760

7.20%

3.90%

11.10%

670-734

7.20%

4.40%

11.60%

650-669

7.20%

4.90%

12.10%

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

CIC Score (CIBIL CV Score 2-year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset

≥ 761

7.20%

4.40%

11.60%

735-760

7.20%

4.90%

12.10%

670-734

7.20%

5.40%

12.60%

<670

No Loan

Note:a) In case of the NIL CIC Score, Risk Scoring Model (RSM) score shall substitute the CIC Score in interest rate structure as under:

  RSM ≥75 66-74 57-65 41-56

Govt. SP (DSP, ICGSP, PMSP, RSP, PSP,SGSP, CGSP, etc.)

(CIBIL CV

Score)

≥ 761

735-760

670-734

650-669

Corporate salary package customers (CSP)

(CIBIL CV

Score)

≥ 761

735-760

670-734

670-734

c) Following category of borrowers will get special concessions*:

Criteria Concession Offered
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.

d) ‘Overdraft’ Facility: In case of the customer who avails Overdraft (OD) facility, 50 bps premium will be charged over and above the applicable interest rate.

II. XPRESS ELITE SCHEME:(Term loan/ Overdraft)

A. SBI Salary Package A/c Holders:

CIC Score (CIBIL CV Score 2-year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset

≥ 791

7.20%

2.40%

9.60%

735-790

7.20%

2.90%

10.10%

650-734/ NIL Score

7.20%

3.90%

11.10%

<650

No Loan

B. Other than Salary Package A/c Holders (including Applicants not maintaining Salary A/c with our Bank):

CIC Score (CIBIL CV Score 2-year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset

≥ 791

7.20%

2.65%

9.85%

735-790

7.20%

3.15%

10.35%

650-734/ NIL Score

7.20%

4.15%

11.35%

<650

No Loan

Note: No further concession is permitted under the Scheme.

III. III.XPRESS CREDIT- NON-PERMANENT EMPLOYEES (NPES)
Employer Type Rate of Interest

i) Central and State Government, Quasi- Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National Repute

 Check-off Category-I : 430 bps above 2 yr MCLR i.e. 11.50% Check-off Category-II: 640 bps above 2 yr MCLR i.e. 13.60%
ii) Co-operatives/ Institutions not covered under regular Xpress Credit loan scheme and Unrated Corporates Check-off Category-I: 505 bps above 2 yr MCLR i.e. 12.25% Check-off Category-II: 665 bps above 2 yr MCLR i.e. 13.85%
IV. XPRESS LITE SCHEME : 1% higher than Xpress Credit scheme for all brackets

V. PRE-APPROVED XPRESS CREDIT ON YONO (PAXC)

Category (CIBIL CV Score) 2 year MCLR with no reset Spread over 2 year MCL Effective Interest Rate with No Reset

DSP/PMSP/ICGSP applicants

≥ 670

7.20%

3.40%

10.60%

<670

7.20%

3.90%

11.10%

CGSP, PSP, RSP, SGSP, CSP customer with Select Employer

Code

≥ 761

7.20%

3.40%

10.60%

735-760

7.20%

3.90%

11.10%

670-734

7.20%

4.40%

11.60%

650-669

7.20%

4.90%

12.10%

 

Others

≥ 761

7.20%

4.40%

11.60%

735-760

7.20%

4.90%

12.10%

670-734

7.20%

5.40%

12.60%

VI.OTHER UNSECURED PERSONAL LOANS

VI.OTHER UNSECURED PERSONAL LOANS

Scheme (2 year MCLR) Spread over 2 year MCLR Effective Interest Rate with No Reset

SBI Pension Loan*

7.20%

2.55%

9.75%

Jai Jawan Pension Loan

7.20%

2.55%

9.75%

Pension Loan To Coal Mines

Provident Fund (CMPF) Pensioners

7.20%

2.55%

9.75%

Pre-Approved Pension Loans on YONO (PAPNL)

7.20%

2.55%

9.75%

Insta Pension

7.20%

2.55%

9.75%

Xpress Credit Insta Top-Up

7.20%

3.50%

10.70%

SPL. PAPL

7.20%

2.40%

9.60%

Clean Overdraft

7.20%

8.45%

15.65%

*The Treasury/PSU Pensioners to be charged a premium of 0.50% in case concerned Treasury/ PSU (Pension Payment Authorities) do not give consents/undertaking in writing that it will not accept any request from the pensioner to transfer his pension payment to any other Bank/ Branch till a NOC is issued by our Bank/Branch.

VII. SBI Quick Personal Loan Scheme through CLP portal

(for customer not maintaining salary account with SBI) : 0.25% higher than Xpress Credit Scheme for all Brackets

VIII. Pre-Approved Personal Loans (PAPL)- Non-CSP

VI.OTHER UNSECURED PERSONAL LOANS

Scheme 1 year MCLR Spread over 1 year MCLR Effective Interest Rate with No Reset
Pre-Approved Personal Loans (PAPL) Non-CSP 7.00% 5.60% 12.60%

EDUCATION LOAN SCHEMES - RATE OF INTEREST

The interest rates will be floating for entire period of loan

Mean Rate of Interest 10.47%

SBI STUDENT LOAN SCHEME
Loan Limit EBR* CRP Effective Interest Rate Rate Type
Upto Rs 7.5 Lakhs 9.15% 2.00% 11.15% Floating
Concession 0.50% concession in interest for girl students
Above Rs 7.5 Lacs 9.15% 2.00% 11.15% Floating
Concession 0.50% concession in interest for girl students
0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of our Bank
SBI SCHOLAR LOAN SCHEME (Including  TAKEOVER and PART-TIME COURSES for select institutes)
List EBR* CRP Business Strategy Discount Effective Interest Rate Rate Type
AA All IITs 9.15% 0.00% (-) 1.00% 8.15%
(With or without co-borrower)		 Floating
Other institutes 9.15% 0.05% (-) 1.00% 8.20%
(With or without co-borrower)		 Floating
A All IITs 9.15% 0.00% (-) 1.00% 8.15% Floating
Other institutes 9.15% 0.50% (-) 1.00% 8.65% Floating
B All NITs 9.15% 0.50% (-) 1.00% 8.65% Floating
Other institutes 9.15% 1.00% (-) 1.00% 9.15% Floating
C All NITs 9.15% 0.50% (-) 1.00% 8.65% Floating
Other institutes 9.15% 1.50% (-) 1.00% 9.65% Floating
SBI SKILL LOAN SCHEME
Loan Limit EBR* CRP Effective Interest Rate Rate Type
Upto Rs 1.5 Lacs 9.15% 1.50% 10.65% Floating
Concession No Further Concession
SBI GLOBAL ED-VANTAGE SCHEME
Loan Limit EBR* CRP Effective Interest Rate Rate Type
Above Rs. 7.50 lacs & Upto Rs 1.5 Cr 9.15% 2.00% 11.15% Floating
Concession 0.50% concession for students availing of SBI Rinn Raksha or any other existing life policy assigned in favour of our Bank
Further Concession 0.50% concession for girl students
SBI TAKEOVER EDUCATION LOANS SCHEME
(Under Student Loan & Global Ed-Vantage Scheme)
Loan Limit EBR* CRP Effective Interest Rate Rate Type
Above Rs 10 lacs & Upto Rs 1.5 Cr 9.15% 2.00% 11.15% Floating
Concession 0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank
Further Concession 0.50% concession for girl students
SHAURYA EDUCATION LOAN
(For wards of Defence & Indian Coast Guard )
Loan Limit EBR* CRP Effective Interest Rate Rate Type
Upto 7.50 lakhs 9.15% 2.00% 11.15% Floating
Concession 0.50% concession for girl students
Above Rs. 7.50 Lakhs & Upto Rs. 1.50 Cr  
In case of Secured Loan 9.15% 2.00% 11.15% Floating
In case of Unsecured Loan 9.15% 2.60% 11.75% Floating
Concession 0.50% concession for girl students
0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank

*EBR = Repo Rate + Spread,
 Currently: Repo rate = 6.50%
 Spread = 2.65%
 EBR = 9.15%

EDUCATION LOAN SCHEMES - RATE OF INTEREST (w.e.f. 15.02.2023) Mean Rate of Interest 9.37%

SBI STUDENT LOAN SCHEME
Loan Limit EBR CRP Effective Interest Rate Rate Type

Upto Rs 7.5 Lakhs

9.15%

2.00%

 11.15%

Floating

Concession

 0.50% concession in interest for girl students

Above Rs 7.5 Lakhs

9.15%

2.00%

 11.15%

Floating

Concession

 0.50% concession in interest for girl students
0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of our Bank
SBI SCHOLAR LOAN SCHEME (Including TAKEOVER and PART-TIME COURSES for select institutes)
LIST EBR CRP Business Strategy Discount Effective Interest Rate Rate Type
AA

All IITs

9.15%

0.00%

(-) 0.60%

 8.55% (With or without co-borrower)

Floating

Other institutes

9.15%

0.05%

(-) 0.60%

 8.60% (With or without co-borrower)

Floating
A

All IITs

9.15%

0.00%

(-) 0.60%

 8.55%

Floating

Other institutes

9.15%

0.50%

(-) 0.60%

 9.05%

Floating
B

All NITs

9.15%

0.50%

(-) 0.60%

 9.05%

Floating

Other institutes

9.15%

1.00%

(-) 0.60%

 9.55%

Floating
C

All NITs

9.15%

0.50%

(-) 0.60%

 9.05%

Floating

Other institutes

9.15%

1.50%

(-) 0.60%

 10.05%

Floating
SBI SKILL LOAN SCHEME
Loan Limit EBR CRP Effective Interest Rate Rate Type
Upto Rs 1.5 Lakhs

9.15%

1.50%

 10.65%

Floating

Concession

No Further Concession
SBI GLOBAL ED-VANTAGE SCHEME
Loan Limit EBR CRP Effective Interest Rate Rate Type
Above Rs. 7.50 lakhs & Upto Rs 1.5 Cr

9.15%

2.00%

 11.15%

Floating

Concession

 0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank

Further Concession

 0.50% concession for girl students
SBI TAKEOVER EDUCATION LOANS SCHEME (Under Student Loan & Global Ed-Vantage Scheme)
Loan Limit EBR CRP Effective Interest Rate Rate Type
Above Rs 10 lakhs & Upto Rs 1.5 Cr

9.15%

2.00%

 11.15%

Floating

Concession

 0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank

Further Concession

 0.50% concession for girl students
SHAURYA EDUCATION LOAN (For spouse/wards of Defence & Indian Coast Guard)
Loan Limit EBR CRP Effective Interest Rate Rate Type
Upto 7.50 lakhs

9.15%

2.00%

 11.15%

Floating

Concession

 0.50% concession in interest for girl students
Above Rs. 7.50 Lakhs & Upto Rs. 1.50 Cr  
In case of Secured Loan

9.15%

2.00%

 11.15%

Floating
In case of Unsecured Loan

9.15%

2.00%

 11.15%

Floating

Concession

 0.50% concession for girl students
0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank

EDUCATION LOAN SCHEMES - RATE OF INTEREST (w.e.f. 22.06.2021)

Mean Rate of Interest 8.68%

SBI STUDENT LOAN SCHEME
Loan Limit EBLR Spread Effective Interest Rate Rate Type

Upto Rs 7.5 Lakhs

6.65%

2.00%

8.65%

Floating

Concession

0.50% concession in interest for girl students

Above Rs 7.5 Lakhs

6.65%

2.00%

8.65%

Floating

Concession

0.50% concession in interest for girl students

0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of our Bank
SBI SCHOLAR LOAN SCHEME
(Including PART-TIME COURSES for select institutes)
LIST EBLR Spread Effective Interest Rate Rate Type

AA

ROI

6.65%

0.20%

6.85%

(With co-borrower)

Floating

ROI

6.65%

0.30%

6.95%

(Without co-borrower)

Floating

A

All IIMs & IITs

6.65%

0.35%

7.00%

Floating

Other institutes

6.65%

0.50%

7.15%

Floating

B

All NITs

6.65%

0.50%

7.15%

Floating

 

Other institutes

6.65%

1.00%

7.65%

Floating

C

All NITs

6.65%

0.50%

7.15%

Floating

 

Other institutes

6.65%

1.50%

8.15%

Floating
SBI SKILL LOAN SCHEME
Loan Limit EBLR Spread Effective Interest Rate Rate Type

Upto Rs 1.5 Lakhs

6.65%

1.50%

8.15%

Floating

Concession

No Further Concession
SBI GLOBAL ED-VANTAGE SCHEME
Loan Limit EBLR Spread Effective Interest Rate Rate Type

Above Rs. 7.50 lakhs & Upto Rs 1.5 Cr

6.65%

2.00%

8.65%

Floating

Concession

0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank

Further Concession

0.50% concession for girl students
SBI TAKEOVER OF COLLATERALISED EDUCATION LOANS SCHEME
Loan Limit EBLR Spread Effective Interest Rate Rate Type

Above Rs 10 lakhs & Upto Rs 1.5 Cr

6.65%

2.00%

8.65%

Floating

Concession

0.50% concession for girl students
SHAURYA EDUCATION LOAN
(For wards of Defense & Indian Coastal Guard Officers)
Loan Limit EBLR Spread Effective Interest Rate Rate Type

Upto 7.50 lakhs

6.65%

2.00%

8.65%

Floating

Concession

0.50% concession in interest for girl students

Above Rs. 7.50 Lakhs & Upto Rs. 1.50 Cr

 

In case of Secured Loan

6.65%

2.00%

8.65%

Floating

In case of Unsecured Loan

6.65%

2.60%

9.25%

Floating

Concession

0.50% concession for girl students

0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank

Loan against Securities as on 01.04.2024 is as under:

Secured Personal Loans
Scheme 1-year MCLR Spread over 1-year MCLR Effective Interest Rate

Loan against Shares, Mutual Funds & Dual Advantage Fund

8.65%

2.50%

11.15%

Loan against SGB

8.65%

2.00%

10.65%

Loan against NSC/ KVP/ RBI Relief Bond/ Surrender Value of SBI Life/ LIC

8.65%

2.50%

11.15%
  II. LOAN AGAINST BANK TIME DEPOSIT (TDR/STDR) / FCNR (B) DEPOSIT
Secured Personal Loans (2/3)

Loan against Bank’s Time Deposits (Domestic)

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Loan against NRO Fixed Deposits

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Loan against NRE Fixed Deposits

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Loan against FCNR (B) Deposit

2.90% over 1-year MCLR (1-year MCLR as on 01.04.2022 is 7.00%).

Loan against Securities as on 01.04.2022 is as under:

Secured Personal Loans
Scheme 1-year MCLR Spread over 1-year MCLR Effective Interest Rate

Loan against Shares, Mutual Funds & Dual Advantage Fund

7.00%

2.50%

9.50%

Loan against SGB

7.00%

2.00%

9.00%

Loan against NSC/ KVP/ RBI Relief Bond/ Surrender Value of SBI Life/ LIC

7.00%

4.65%

11.65%
  II. LOAN AGAINST BANK TIME DEPOSIT (TDR/STDR) / FCNR (B) DEPOSIT
Secured Personal Loans (2/3)

Loan against Bank’s Time Deposits (Domestic)

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Loan against NRO Fixed Deposits

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Loan against NRE Fixed Deposits

1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Loan against FCNR (B) Deposit

2.90% over 1-year MCLR (1-year MCLR as on 01.04.2022 is 7.00%).

Auto Loans Interest Rates

(Fixed Rate-Interest Rate applied at the time of disbursement will remain same for the entire loan period)

Scheme (1-year MCLR: 8.65%)

i) SBI Car Loan,
ii) NRI Car Loan,
iii) Assured Car Loan Scheme

 

From 8.85% to  9.80%

Loyalty Car Loan Scheme

SBI Car Loan, NRI Car Loan

From 8.80% to 9.75% (CIC Based rates are applicable)
SBI Green Car Loan (For Electric Cars) From 8.75% to 9.45%

Certified Pre-owned Car Loan Scheme

From 11.40% to 14.90% (CIC Based rates are applicable).

SBI Two-Wheeler Loan

13.00% to 14.50% (0.50% Concession available for EV)

 

Finer pricing for New Car Loans based on CIC scores 

CIC Score

Term of Loan

3-5 Years

Above 5 Years

800 & above

0.20% + 1 Year MCLR

8.85%

0.30% + 1 Year MCLR

8.95%

775 - 799

0.35% + 1 Year MCLR

9.00%

0.45% + 1 Year MCLR

9.10%

757-774

0.45% + 1 Year MCLR

9.10%

0.55% + 1 Year MCLR

9.20%

721-756

0.70% + 1 Year MCLR

9.35%

0.80% + 1 Year MCLR

9.45%
700-720 0.95% + 1 Year MCLR 9.60% 1.05% + 1 Year MCLR 9.70%

650-699

1.05% + 1 Year MCLR

9.70%

1.15% + 1 Year MCLR

9.80%

-1(NTC)

9.10% to 9.45%

 

Super Bike Loan Scheme

S.No.

CIBIL Score

Salaried customers / Defense / Pensioners

Others

1

>=741

3.50% + 1 Year MCLR

12.15%

4.50 + 1 Year MCLR

13.15%

2

731-740

5.00% + 1 Year MCLR

13.65%

6.00 + 1 Year MCLR

14.65%

3

700-730 and (New to Credit)

10.75% + 1 Year MCLR

19.40%

11.75 + 1 Year MCLR

20.40%

Mean Rate for Auto Loans: 9.00% 

Auto Loans Interest Rates w.e.f. 01.04.2023 (Fixed Rate)
Scheme Interest Rate w.e.f. 01.04.2023 (1-year MCLR: 8.50%)
i) SBI Car Loan, ii) NRI Car Loan, iii) Assured Car Loan Scheme From 8.85% to 9.65%
Loyalty Car Loan Scheme SBI Car Loan, NRI Car Loan From 8.80% to 9.60% (CIC Based rates are applicable)
SBI Green Car Loan (For Electric Cars) From 8.60% to 9.30%
Certified Pre-owned Car Loan Scheme From 11.25% to 14.75% (CIC Based rates are applicable).
SBI Two-Wheeler Loan 17.75% p.a. to 19.50% p. a

  Finer pricing for New Car Loans based on CIC scores.  (1-year MCLR: 8.50%)

CIC Score Term of Loan
3-5 Years Above 5 Years
775 & above 0.35% + 1 Year MCLR 8.85% 0.45% + 1 Year MCLR 8.95%
757 - 774 0.45% + 1 Year MCLR 8.95% 0.55% + 1 Year MCLR 9.05%
721-756 0.70% + 1 Year MCLR 9.20% 0.80% + 1 Year MCLR 9.30%
700-720 0.95% + 1 Year MCLR 9.45% 1.05% + 1 Year MCLR 9.55%
650 - 699 1.05% + 1 Year MCLR 9.55% 1.15% + 1 Year MCLR 9.65%
-1 8.95% to 9.30%

  Super Bike Loan Scheme

S.No. CIBIL Score Salaried customers / Defense / Pensioners Others
1 >=741 3.50 + 1 Year MCLR 12.00% 4.50 + 1 Year MCLR 13.00%
2 731-740 5.00 + 1 Year MCLR 13.50% 6.00 + 1 Year MCLR 14.50%
3 700-730 and (New to Credit) 10.75 + 1 Year MCLR 19.25% 11.75 + 1 Year MCLR 20.25%

  Mean Rate for Auto Loans: 8.50%

Auto Loans as on 01.04.2022 is as under:

 

1 Year MCLR 7.00%

(A) SBI CAR LOANS/NRI CAR LOANS/ASSURED CAR LOAN

FOR MEN BORROWERS
CIC Score Term of Loan
  3-5 Years ROI Above 5 Years ROI
>=757 0.75% above 1 Year MCLR 7.75 0.85% above 1 Year MCLR 7.85
721-756 1% above 1 Year MCLR 8.00 1.10 % above 1 Year MCLR 8.10
689-720 1.25% above 1 Year MCLR 8.25 1.35% above 1 Year MCLR 8.35
606-688 1.35% above 1 Year MCLR 8.35 1.45% above 1 Year MCLR 8.45
For “-1” Category Customer Rate of Interest is based on RSM Score
RSM Score 3-5 Years ROI Above 5 Years ROI
>=71  0.75% above 1 Year MCLR 7.75 0.85% above 1 Year MCLR 7.85
46-70 1.00% above 1 Year MCLR 8.00 1.10 % above 1 Year MCLR 8.10
FOR WOMEN BORROWERS (Concession of 5 bps available as under)
606-688 1.30% above 1 Year MCLR 8.30 1.40% above 1 Year MCLR 8.40

(B) LOYALTY CAR LOANS/LOYALTY NRI CAR LOANS

FOR MEN BORROWERS
CIC Score Term of Loan
  3-5 Years ROI Above 5 Years ROI
>=757 0.70% above 1 Year MCLR 7.70 0.80% above 1 Year MCLR 7.80
721-756 0.95% above 1 Year MCLR 7.95 1.05% above 1 Year MCLR 8.05
689-720 1.20% above 1 Year MCLR 8.20 1.30% above 1 Year MCLR 8.30
606-688 1.30% above 1 Year MCLR 8.30 1.40% above 1 Year MCLR 8.40
-1 Not Applicable Not Applicable
FOR WOMEN BORROWERS: (Concession of 5 bps available as under)
CIC Score Term of Loan
  3-5 Years ROI Above 5 Years ROI
606-688 1.25% above 1 Year MCLR 8.25 1.35% above 1 Year MCLR 8.35

(C) CERTIFIED PRE-OWNED CAR LOANS

CIC Score Term of Loan
  1-3 Years ROI Above 3 Years to 5 years ROI
>=757 2.75% above 1 Year MCLR 9.75 3.25% above 1-year MCLR 10.25
721-756 3.75 % above 1 Year MCLR 10.75 4.25% above 1-year MCLR 11.25
689-720 5.75% above 1 Year MCLR 12.75 6.25% above 1-year MCLR 13.25
606-688 Not Applicable      
-1 4.25% above 1 Year MCLR 11.25 4.75% above 1-year MCLR 11.75
(D) LOYALTY CERTIFIED PRE-OWNED CAR LOANS ROI
For Men: 2.25% above 1 Year MCLR: 9.25
For Women: 2.20% above 1 Year MCLR: 9.20
  • Concession of 20 bps in Rate of Interest is applicable for Green Car Loan scheme for Electric Vehicles.

(E) Two-Wheeler Loan

CIC Score Salaried Customer/ Defence Pensioners ROI Others ROI
>= 741 3.50% above 1year MCLR   10.50 4.50% above 1year MCLR 11.50
731-740 5.00% above 1year MCLR   12.00 6.00% above 1year MCLR 13.00
700-730 and (New to credit) 10.75% above    1year MCLR   17.75 11.75% above 1year MCLR 18.75
CIC Score Tenure in months
  36 ROI 48 ROI
>=741 9.25% above 1year MCLR 16.25 9.50% 1year above MCLR 16.50
731-740 9.75% above 1year MCLR 16.75 10.00% above 1year MCLR 17.00
700-730 10.75% above 1year MCLR 17.75 11.00% above 1year MCLR 18.00

(F) SBI Easy Ride Pre-Approved Two-Wheeler Loan (PA2W)

Interest Rate Structure – Salary Package Customers
For Defence/ Paramilitary/ Indian Coast Guard Salary Package Applicants:
CIC Score (CIBIL CV Score) 1-year MCLR Spread over 1-year MCLR Interest Rate for PA2W
≥ 670 7.00% 3.35% 10.35%
 650 to 669 and NTC (CIBIL V3: 141 -200) 7.00% 3.85% 10.85%
For Central Govt. Salary Package/ State Govt. Salary Package/ Police Salary Package/ Railway Salary Package/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status Applicants.
CIC Score (CIBIL CV Score) 1-year MCLR Spread over 1-year MCLR Interest Rate for PA2W
≥ 761 7.00% 3.35% 10.35%
735-760 7.00% 3.85% 10.85%
670-734 and NTC (CIBIL V3: 141 -200) 7.00% 4.35% 11.35%
650-669 7.00% 4.85% 11.85%
For Other Corporate Salary Package Customers
≥ 761 7.00% 4.35% 11.35%
735-760 7.00% 4.85% 11.85%
670-734 and NTC (CIBIL V3: 141 -200) 7.00% 5.35% 12.35%
650-669 7.00% 5.85% 12.85%
 
The following category of borrowers will get additional concession
.
Criteria Concession Offered in Rate of Interest
Platinum salary package customers 50 bps
Central Public Sector Enterprises (CPSEs) Considered under ‘RATNA’ Status 50 bps
Revised Interest Rate Structure – Non-Salary Package customers
CIC Score (CIBIL CV Score) 1-year MCLR Spread over 1-year MCLR Interest Rate for PA2W
≥ 741 7.00% 4.50% 11.50%
731-740 7.00% 5.00% 12.00%
700-730 and NTC (CIBIL V3: 151 -200) 7.00% 6.00% 13.00%
  • Rate of interest (Fixed) at the time of sanction of the loan will remain same for the entire tenure of loan amount.

Last Updated On : Wednesday, 02-04-2025

Interest Rates

8.25%* p.a. onwards

w.e.f. 15.02.2025

*T&C Apply.

 

View All
SEE PRODUCTS APPLY NOW
Quick Links