SBI Xpress Elite - Personal Banking

Eligibility :

• Individuals having Salary Account with SBI
• Minimum Net Monthly Income: Rs. 1,00,000/-
• EMI/NMI Ratio <= 60%
• 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: Upto 1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-), plus GST (Processing Fee waived upto 31.03.2022 as a special offer)
• 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.
• Repayment Period:
  • Minimum: 6 months
  • Maximum: 72 months or remaining period of service (whichever is lower)