SBI Xpress Elite - Personal Banking

Eligibility :

• Individuals having Salary Account with SBI
• Minimum Net Monthly Income: Rs. 1,00,000/-
• EMI/NMI Ratio upto 65%
• Employees working with
  • Central/ State/ Quasi Governments,
  • Defense/ Central Armed Police/ Indian Coast Guard,
  • Central & State PSUs,
  • Corporates (Private & Public Ltd.),
  • Educational institutions of National Repute
• Loan Amount:
  • Minimum: Rs. 3,00,000
  • Maximum: Rs. 35,00,000 / 24 times NMI

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Terms And Conditions:

• Processing fee: Up to 1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-), plus GST (Processing Fee waived from 01.09.2024 till 31.01.2025 as a special offer)
• Penal Charges: In the event of default in payment of any instalment or any irregularity in the loan account, penal charges at following rate will be applicable:
  • Irregularity upto 60 Days: 2.40% per annum on the irregular portion for the period of irregularity.
  • Continuous irregular for a period beyond 60 days: 5% per annum on the outstanding for the period of irregularity.
• Prepayment Charges:
  • Any prepayment of EMI in full or in part and closure of account before the end of term will attract the prepayment charges of 3% on the prepaid amount. However, no pre-payment charges to be levied if the Loan Account is closed after the completion of Loan tenure of 3 years;
  • In case of defense customers, 100% waiver of prepayment charges to be applicable if the loan is closed after 6 months from date of sanction;
  • In case of Government/ Corporate sector borrowers, no prepayment charges if the loan is closed after 6 months from date of sanction from the proceeds of a new loan account opened under the same scheme with the Bank.
  • No prepayment charges under this scheme for Platinum and Rhodium variant of Corporate Salary Package customers if the loan is closed after 6 months from the date of sanction.
  • Pre-payment penalty of 3% on prepaid amount (in case of prepayment) to be levied in case of all takeover cases by other banks, irrespective of the tenure (including defense customers).
• Repayment Period:
  • Minimum: 6 months
  • Maximum: Maximum 84 months

  • Loan to be closed on or before the Date of Retirement/ Date of End of Contract/ 60 years of age, as applicable.