SBI Xpress Credit Loan is an unsecured EMI based personal loan which you can avail for immediate cash requirement. Using SBI Xpress Credit Loan, you can meet any kind of financial needs- medical emergencies, wedding or unplanned vacation. At the time of SBI Xpress Credit Loan application form fill up, you need to fulfill the eligibility criteria. You also need to fulfill SBI Xpress Credit Loan documents required to speed up the loan approval process. You can avail loan amount up to Rs. 20 lakhs SBI Xpress Credit Loan interest rate on daily reducing balance. You can also check the amount you need to repay using SBI Xpress Credit Loan EMI Calculator.
- SBI Xpress Credit Loan requires no guarantor or collateral to secure the loan.
- You need to submit very minimal documents when going for SBI Xpress Credit Loan application form fill up.
- SBI Xpress Credit Loan interest rate charged is quite low and follows daily reducing balance principle.
- You can easily avail the second loan when already an SBI Xpress Credit Loan is taken (given the bank’s norm).
- No hidden cost and low processing fee are charged for SBI Xpress Credit Loan.
- SBI Xpress Credit Loan amount can range up to Rs. 20 lakhs based on your eligibility and repaying capacity.
- You can easily calculate the EMI amount for your future repay using SBI Xpress Credit Loan EMI Calculator.
- You need to have SBI salary account to avail SBI Xpress Credit Loan.
- Selected corporate, State PSU making profit, Central PSU, employees of reputed educational institutes, Central/Quasi/State government can opt for SBI Xpress Credit Loan.
- The EMI/NMI ratio must not exceed 50%.
- After the first loan disbursement and regular EMI payments, you can go for the second loan.
- For Overdraft loan amount, you can avail a minimum of Rs. 5 lakhs and maximum of Rs. 20 lakhs/24 times NMI.
- For Term Loan amount, you can get a minimum of Rs. 25,000 and maximum of Rs. 20 lakhs/24 times NMI.
For the Indian Coast Guard/Defence/Para-Military Salary Package Applicants
| 2 year MCLR | Spread Over 2 year MCLR | Effective Rate of Interest with no reset |
| 8.65%* | 3.40%*-3.90%* | 12.05%*-12.55%* |
| 2 year MCLR | Spread Over 2 year MCLR | Effective Rate of Interest with no reset |
| 8.65%* | 3.90%*-4.40%* | 12.55%*-13.05%* |
| 2 year MCLR | Spread Over 2 year MCLR | Effective Rate of Interest with no reset |
| 8.65%* | 3.90%*-6.40%* | 12.40%*-14.90%* |
| 2 year MCLR | Spread Over 2 year MCLR | Effective Rate of Interest with no reset |
| 8.65%* | 3.40%*-5.40%* | 11.90%*-13.90%* |
If you fall under the below mentioned category, then you will enjoy special concessions-
- If you provide the ‘Check-Off’, then you will enjoy interest rate concession of 0.5%.
- If you apply for loan amount exceeding Rs. 10 lakhs, then you will avail a concession of 0.5% interest rate.
State/Quasi/Central Government, State & Central PSUs, Reputed Educational Institutes, Defence Personnel
| 2 year MCLR | Spread Over 2 year MCLR | Effective Rate of Interest with no reset |
| 8.50%* | 4.30%*-6.40%* | 12.80%*-14.90%* |
Co-operative Institutes that are not covered under the SBI Xpress Credit Loan and Unrated Corporates
| 2 year MCLR | Spread Over 2 year MCLR | Effective Rate of Interest with no reset |
| 8.50%* | 5.05%*-6.65%* | 13.55%*-15.15%* |
| 2 year MCLR | Spread Over 2 year MCLR | Effective Rate of Interest with no reset |
| 8.55%* | 4.80%*-6.80%* | 13.30%*-15.30%* |
