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| SBI Xpress Credit Loan Highlights | |
| Interest Rates | 11.45%-14.60% p.a. |
| Loan Amount | Up to Rs 30 lakh |
| Tenure | 6 months-7 years |
| Minimum Monthly Salary | Rs 25,000 |
Note: Rates as of 21 February 2025.
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SBI Xpress Credit Personal Loan Interest Rates
SBI Personal Loan Interest Rates for Xpress Credit Personal Loan Scheme start from 11.45% p.a. onwards. The lender offers differential interest rates for this scheme based on the occupation profile of the applicants. Below-mentioned are the interest rates set by the bank for SBI Xpress Credit Personal Loan scheme:
| Occupation Profile | Interest Rates (p.a.) |
| For Defense/Para-military/Indian Coast Guard Salaried Applicants | 11.45%-12.95% |
| Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status | 11.60%-14.10% |
| Applicants of Other Corporates | 12.60%-14.60% |
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Fees and Charges
| Particulars | Charges |
| Penal Interest | 2.4% p.a for nonpayment of up to 60 days
5% p.a. for continuous non-repayment of more than 60 days |
| Prepayment Charges | 3% of the prepaid amount is levied as prepayment penalty
Waiver of Prepayment Penalty:
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Also know the personal loan processing fee charged by various lenders
Eligibility for SBI Xpress Credit Personal Loan
- Salaried individuals having salary account with State Bank of India
- Employees working with Central/State/quasi Government, PSUs, reputed educational institutions, selected corporates with or without relationship with the bank
- EMI/NMI ratio less than 50%
- Additionaly, SBI may also consider the credit score of its applicants while setting the eligibility for SBI Personal Loan, just like other lenders do while evaluating the personal loan eligibility of their applicants.
Also check SBI Personal Loan Eligibility for other schemes
SBI Xpress Credit Personal Loan Documentation
For Salaried Individuals
- Duly filled application form along with passport-sized photographs
- Identity Proof: Passport, PAN card, Voter Identity Card, Driving License, Aadhaar Card
- Income Proof: Bank Account Statement, Salary Slips, ITR, Form 16
- Address Proof: Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement (for owned properties), Aadhaar Card
- Irrevocable Letter of Authority addressed to disbursing authority
- Copy of ID card issued by the employer
- Irrevocable Letter of Authority from the person authorized to disburse salary and allowances
For DSP-PMSP-ICGSP (Defence Salary Package/Para-military Salary Package/Indian Coast Guard Salary Package)
- Duly filled application form with 2 recent photographs
- ID Proof: PAN card, driving license, passport, voter ID, Aadhar card,
- Residence Proof: telephone bills, electricity bills, passport, voter ID
- Salary slip for last 6 months
- Last 6 months bank account statement where salary is credited
Know more about SBI Personal Loan Documents required
SBI Personal Loan Customer Care
Toll free numbers:
- 1800 11 2211
- 1800 425 3800
- 1800 1234
- 1800 2100
Know more about SBI Personal Loan Customer Care Number and grievance redressal process