Loan Amount:

• Term Loan: The minimum amount you can borrow is Rs.24,000.
• The maximum amount that you can borrow is 24 times the net monthly income of the applicant (subject to maximum of Rs 15.00 lacs).

Overdraft:

• Minimum: Rs.10.00 lacs.
• Maximum: 24 times NMI (subject to maximum of Rs 15.00 lacs).
• The OD will be subject to monthly reduction in DP so that DP becomes NIL in 60 months.

Repayment Period:

The minimum repayment period that a borrower can take is 6 months. The maximum repayment period that he/ she can take is 60 months or residual service period, whichever is less.

Margin: None

Third Party Guarantee: None

Security: None

Provision for second loan:

A borrower can avail a second loan after 1 year of availing the 1st loan. This is under the condition that the first loan has been satisfactorily conducted and the repayment of the first loan has been regular. Not more than two Xpress Credit Loans can be availed by one borrower. However this is subject to the overall EMI/NMI ratio of 50%.

SBI Xpress Credit Personal Loan Eligibility

• The minimum net monthly income that an applicant must be earning to be eligible for the SBI Xpress Credit Personal Loan is Rs.7500/-.
• EMI/NMI Ratio should not exceed 50
• SBI Xpress Credit Personal Loan is offered to employees who are employed in the following categories and maintain salary account with SBI at zero margin:
1. Quasi-Government
2. Central and state Government
3. Central PSUs
4. Educational Institutions of National Repute
5. Profit making State PSUs
6. Selected Corporates

Overdraft:

• Minimum: Rs.10.00 lacs.
• Maximum: 24 times NMI (subject to maximum of Rs 15.00 lacs).
• The OD will be subject to monthly reduction in DP so that DP becomes NIL in 60 months.

Interest Rates for SBI Xpress Credit Personal Loan