SBI Xpress Credit Loan Highlights 2022 | |
Interest Rates | 9.80%-13.80% p.a. |
Loan Amount | Up to Rs 20 lakh |
Tenure | 6 months-6 years |
Processing Fee | Waived off |
Minimum Monthly Salary | Rs 15,000 |
SBI Xpress Credit Loan Interest Rates
The following are the different personal loan interest rates offered by SBI to different categories of borrowers:
Xpress Credit
For Defense/Para-military/Indian Coast Guard Salaried Applicants
Types | Interest Rates (p.a.) |
Term Loan | 9.80%-11.30% |
Overdraft | 10.30%-11.80% |
Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status
Types | Interest Rates (p.a.) |
Term Loan | 9.80%-12.30% |
Overdraft | 10.30%-12.80% |
Applicants of Other Corporates
Types | Interest Rates (p.a.) |
Term Loan | 10.80%-12.30% |
Overdraft | 11.30%-12.80% |
Xpress Elite Scheme
Types of Applicants | Interest Rates (p.a.) |
Salary Account Holders with SBI | 9.80%-11.30% |
Applicants having salary accounts with other banks | 10.05%-11.55% |
Xpress Lite Scheme
1% higher than Xpress Credit scheme for all brackets
SBI QUICK PERSONAL LOAN SCHEME THROUGH CLP PORTAL
(for customer not maintaining salary account with SBI)
0.25% higher than Xpress Credit Scheme for all Brackets
Other Schemes
Products | Rate of Interest (p.a.) |
Xpress Credit Insta Top-up Loans | 10.90% |
Pre-Approved Personal Loans (PAPL) To Non-CSP Customers through YONO | 12.80% |
SBI Pension Loan Schemes
Schemes | Interest Rates (p.a.) |
SBI Pension Loan | 9.95% |
Jai Jawan Pension Loan | 9.95% |
Pension Loan Scheme For Treasury & PSU Pensioners | 9.95%-10.45% |
Pension Loan to Coal Mines Provident Fund (CMPF) Pensioner | 9.95% |
Pre-Approved Pension Loans(PAPNL) | 9.95% |
Pre-approved Insta Pension Top-Up | 9.95% |

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Processing Fees and Charges
Particulars | Charges |
Processing Fee | Waived off |
Penal Interest | 2% per month |
Prepayment Charges | 3% on prepaid amount, no prepayment/ foreclosure charges if account is closed from the proceeds of a new loan account under same scheme. |
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%

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SBI Xpress Credit Personal Loan Documentation
Minimal documentation is required as the applicants have already undergone KYC documentation due to their existing salary accounts with SBI.
SBI Customer Care
Toll free number:
1800 11 2211
1800 425 3800
Accessible from all mobile phones and landlines: 080-26599990
To know more details on SBI Personal Loan Customer Care Number, Click Here
FAQs
Q1. What is NMI?
Ans. NMI stands for Net Monthly Income. It refers to the net portion of your monthly income after tax and other deductions are made from the gross monthly salary.
Q2. I am a pensioner. Am I eligible for SBI Xpress Credit Personal Loan?
Ans. No, only salaried individuals are eligible to apply for SBI Xpress Credit Personal Loan scheme.
Q3. Can I prepay SBI Xpress Credit Personal Loan?
Ans. SBI Xpress Credit is a type of personal loan offered by State Bank of India (SBI) to salaried individuals. This unsecured loan requires minimal documentation and features quick disbursal. SBI Xpress Credit personal loan can be flexibly used for various personal expenses such as debt consolidation, vacation, wedding, consumer durable purchases and more. The loan amount offered under this scheme of personal loan starts from Rs. 25,000 and goes up to Rs. 20 lakh.
Q4. I am a pensioner drawing my pension from SBI branch. Can I get the Xpress Credit loan?
Ans. No. Pensioners are not eligible for the SBI Xpress Credit Loan. However you may be eligible for the SBI Pension Loan.
Q5. I am working in a Government company. Will I get a low interest rate I apply for the Xpress Credit loan?
Ans. Yes. As a government employee you might be eligible for a low personal loan interest rate as compared to other applicant groups of the SBI Xpress Credit Loan if you meet the other criteria as specified by the lender.