SBI Xpress Credit Personal Loan Apply | SBI Express Credit Personal Loan Eligibility, Interest rates, application form

SBI Xpress Credit Personal Loan Apply

SBI Xpress Credit : First let us tell you that there are some types of personal loans in SBI, such as SBI Pension Loan, SBI Express Loan, Loan against Securities, SBI Quick Personal Loan, SBI has many more such loans, today in this post we will tell you. Going to read this article for complete information about SBI Xpress Credit Personal Loan.

what is sbi xpress credit personal loan

State Bank of India offers SBI Xpress Credit , a special personal loan scheme, with an interest rate @ 10.30% pa for a loan amount up to 20 lakhs and a tenure of up to 6 years. This personal loan is offered to salaried individuals who have a salary account with SBI. Bank SBI Express Credit offers fast loan approval and immediate loan disbursement with minimum documents to applicants availing personal loans.

SBI Express Credit Personal Loan : Friends, how you can take personal loan at home by applying online from State Bank of India, what documents are required to take personal loan from SBI? How much loan will you get from SBI and what is the interest rate on that loan amount, in how many months will you get to repay the loan amount? If you want to know all these things in today’s post, then let’s begin.

SBI Xpress Credit Personal Loan Highlights 2022

SBI Xpress CreditSBI Express Credit Personal Loan
Interest Rates10.30% – 15.10% p.a
Loan Amountup to 20 lakhs
Tenure6 months-6 years
Minimum Monthly SalaryRs. 15000

SBI Xpress Credit

Advantage of SBI Xpress Credit Personal Loan

First of all, let ‘s know some of the benefits of SBI Express Credit Personal Loan , which are given below.

  • Under this you can take loan up to 20 lakhs.
  • Here you are given loan with minimum interest
  • Here you get loan with minimum documents
  • There are no hidden charges here.

Eligibility of SBI Xpress Credit Personal Loan

Now it comes to who will get loan under this SBI Express Credit Personal Loan .

  • Friends who want to avail SBI Xpress Credit Personal Loan should be 18+.
  • If you are taking SBI Xpress Credit Personal Loan then your CIBIL score should also be good.
  • This loan will be available only to the employed person and need to have an account with SBI only.
  • For those who are employed, their salary should be at least 15000 rupees.
  • This loan is available only to employees working with Central/State/Semi Govt., Public Sector Undertakings, reputed educational institutes, selected corporates with or without bank affiliation.

Require Documents for SBI Xpress Credit Personal Loan

Now it comes to the documents, as I told you minimum documents will be required here. Because when you apply for this loan you have to provide your salary account details and if you have an account with SBI, you have already provided all the documents, so you need to provide very few documents here. Which are as follows.

For salaried persons

  • Duly filled application form with passport size photograph
  • Identity Proof: Passport, PAN Card, Voter ID, Driving License, Aadhaar Card
  • Proof of Income: Bank Account Details, Salary Slip, ITR, Form 16
  • Address Proof: Ration Card, Bank Account Details, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property Purchase Agreement (for owner-occupied properties), Aadhaar Card
  • Irrevocable letter of authority addressed to the disbursing authority
  • Copy of ID card issued by the employer
  • Irrevocable letter of authority from the person authorized to disburse pay and allowances

For DSP-PMSP-ICGSP (Defence Pay Package/Para-Military Pay Package/Indian Coast Guard Pay Package)

  •  Duly filled application form with recent photographs
  • Identity Proof: Passport, PAN Card, Voter ID, Driving License, Aadhaar Card
  • Proof of Residence: Telephone Bill, Electricity Bill, Passport, Voter ID
  • Salary slip of last 6 months
  • Last 6 months bank account statement where salary is deposited

SBI Xpress Credit Personal Loan Interest Rates

ApplicantsTerm LoansOverdraft
For Defense/Para-Military/Indian Coast Guard salaried applicants10.30% – 11.80%10.80% – 12.30%
Applicants from Central Government/State Government/Police/Railways/Central Public Sector Enterprises (CPSE) are considered under ‘Ratna’ status.10.30% – 12.80%10.80% – 13.30%
Applicants from other corporates11.30% – 13.60%11.80% – 14.10%

Interest Rates

SBI Xpress Credit Personal Loan Fees and Charges

Description (Particulars)charges 
Penal Interest2% per Month
Prepayment Charges3% on prepaid amount, no prepayment/foreclosure charges on account closure from proceeds of new loan account under the same scheme.

Fees and Charges

SBI Personal Loan EMI Calculator

SBI Perosanl Loan EMI Calculatore

SBI Personal Loan Customer Care Number

Toll Free Number:

1800 11 2211

1800 425 3800

1800 1234

1800 is 2100

What is SBI Express Credit Loan?

State Bank of India offers SBI Xpress Credit , a special personal loan scheme, with an interest rate @ 10.30% pa for a loan amount up to 20 lakhs and a tenure of up to 6 years. This personal loan is offered to salaried individuals who have a salary account with SBI. Bank SBI Express Credit offers fast loan approval and immediate loan disbursement with minimum documents to applicants availing personal loans.

What is the processing fee for SBI Express Credit Loan?

Processing Fee: Up to 0.75% of loan amount plus GST. Penal interest @2% p. m

How can I check my SBI personal loan eligibility?

You should be at least 21 years of age while applying for the loan. You must have filed ITR for at least 24 months to get a personal loan from SBI. You must have a total of more than ₹5,00,000 per annum. Your credit score should be above 650 to avail SBI personal loan.

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