Apply Loans to Salaried Employees having salary accounts Online in India | SBI - Personal Banking
Loans to Salaried Employees
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.
Dial 1800-11-2211 for more information/ applying through Contact Centre
Give a Missed Call on 7208933142 or SMS “PERSONAL” on 7208933145 to get a call back from our Contact Centre
Features
- Loan up to 20 lakhs.
- Low interest rates.
- Interest on daily reducing balance.
- Low processing charges.
- Minimal documentation
- Zero hidden costs.
- Provision for second Loan
- No security, no guarantor.
Eligibility
- 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.
Terms and Conditions
- 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).

Interest Rates
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
5.30%
3 years to less than 5 year
5.40%
5 years to less than 10 years
Personal Loans Landing Page

Loans to Salaried Employees having salary accounts with SBI

Loans to Salaried Customers not maintaining Salary Account with us

Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
5.30%
3 years to less than 5 year
5.40%
5 years to less than 10 years