How to get personal/Express Credit loan from SBI online

Whether you are married or on vacation, unplanned emergency or planned shopping, State Bank of India Express Credit is a personal loan for all your needs, through which it gets quick approval and quick disbursement with minimal documentation.

How to apply for Personal/Express credit loan in SBI

First click on Express credit loan
Now Select Purpose of loan Personal loan.

https://loanamount.blogspot.com/2020/06/how-to-get-personalexpress-credit-loan.html

Now you need to choose the option that do you have exiting relation with sbi or not.

If you have exiting relation with Sbi then select you relation type from the drop down menu.

If you have exiting express credit loan then fill the your loan account number and your registered mobile number and submit.
If You have saving account with Sbi then fill you Saving account number and your registered mobile number and submit.
If you have other loan with sbi then fill you loan account number and your registered mobile number and submit.

If you do not have exiting relation with sbi then select no and proceed.
Now fill your APPLICANT DETAILS, fill you Date of Birth and your resident type.
Now fill your income detail :

Employment nature
Organization type
Working in current organization since.
Gross monthly salary
Exiting Emi if any give the detail
Retirement age .

Work place details fill the name of the place where you are working.
Give your contact detail, your phone number and email id.
Now click for Loan Quote.

How to track personal loan Application in sbi

Click on the link for track you loan application.

How to track personal loan Application in sbi

Application Tracker

Features of SBI personal loan

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.

Eligibity for SBI personal loan

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.

PERSONAL LOAN SCHEMES - Rate of Interest (w.e.f. 10.06.2020)

I. XPRESS CREDIT(including PAXC-Pre-Approved Xpress Credit)

Mean ROI for Xpress Credit : JAN -MAR’20 – 12.63%

A. For Defence/ Para-Military/ Indian Coast Guard Salary Package Applicants

i) ‘Term Loan’ facility:

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.20%	3.40% - 3.90%	10.60% - 11.10%

ii) ‘Overdraft’ facility:

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.20%	3.90% - 4.40%	11.10% - 11.60%

B. For Other Applicants:

i) ‘Term Loan’ facility:

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.20%	3.40% - 5.40%	10.60% - 12.60%

ii) ‘Overdraft’ facility:

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.20%	3.90% - 5.90%	11.10% - 13.10%

Note for loans under Xpress Credit scheme: 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 Interes

-Subject to total maximum concession of 100 bps over the Card rate

II. XPRESS ELITE SCHEME

i. SBI Salary Package A/c Holders:

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.20%	2.40% - 3.90%	9.60% - 11.10%

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

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.20%	2.65% - 4.15%	9.85% - 11.35%

III. XPRESS CREDIT- NON-PERMANENT EMPLOYEES (NPES)

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

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.20%	4.30% - 6.40%	11.50% - 13.60%

ii. Co-operatives/ Institutions not covered under regular Xpress Credit loan scheme and Unrated Corporates:

2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
7.20%	5.05% - 6.65%	12.25% - 13.85%

IV. OTHER UNSECURED PERSONAL LOANS

Mean ROI for Pension Loan : JAN -MAR’20 – 11.38%

Other Unsecured Personal Loans
Scheme	Revised
Scheme	2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
Pension Loan(including PAPNL-Pre Approved pension Loans)	7.20%	3.35%-3.85%	10.55%-11.05%
Clean Overdraft	7.20%	8.45%	15.65%
Xpress Credit Insta Top-Up	7.20%	3.50%	10.70%
Other Unsecured Personal Loan
Scheme	1 year MCLR	Spread over 2 year MCLR	Effective Interest Rate Reset
Pre-Approved Personal Loans (PAPL)	7.00%	5.60%	12.60%

Scheme	2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
SPL. PAPL	7.20%	2.40%	9.60%

SBI QUICK PERSONAL LOANS THROUGH CLP PORTAL
Scheme	2 year MCLR	Spread over 2 year MCLR	Effective Interest Rate with No Reset
SBI Quick Personal loan Through CLP portal	7.20%	3.65 - 5.65%	10.85% - 12.85%

(0.25% higher than Xpress credit scheme. for all brackets)

SBI Personal loan customer care

1800 112 211 & 1800 425 3800 Toll free number

Terms and Conditions

Processing fee: 1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-) plus applicable Tax.
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).

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Loan Amount

How to get personal/Express Credit loan from SBI online | Loan Application