Get an instant personal loan from a reputed bank like SBI. Use the loan for medical costs, travel expenses, flat purchases, etc. SBI Xpress Credit Personal Loan provides up to Rs. 20 lakh loan at 11.50% interest. The salaried customer with an Rs. 15,000 income obtains this facility.
SBI Xpress Credit Personal Loan
| Loan Available | Rs. 25,000 to Rs.20 Lakh |
| Duration | 6 months to 72 months |
| Interest rate | 11.50%- 14.50% p.a. |
| Salary | Rs. 15,000 |
| Age | 21 to 60 years |
| Eligible Person | Salaried Only |
Features & Benefits of SBI Xpress Credit Loan
- Available loan up to Rs. 20 lakh with soft process.
- The loan will depend on 24 times the NMI.
- Two types of loans Term loans & Overdraft loans, are available.
- Attractive interest rate from 11.50% to 14.50% p.a.
- The processing fee is lower which is 1% of the loan amount.
- Get a loan on a daily reducing balance interest rate.
- No security or guarantor is required for the Xpress Credit loan.
SBI Xpress Credit Personal Loan Eligibility
- The borrower’s salary account must be with SBI.
- A monthly take-home salary of Rs. 15,000 is required.
- Applicant EMI/NMI (Net Monthly Income) should be less than 50%.
- Employees of the Central/ State Government, PSU, and Education Institutes are eligible.
Also Read: Personal Loan at 13,000 Salary
Essential Documents for SBI Xpress Credit Loan
The minimal documents list is required for the SBI Xpress Credit Loan. Complete the following list for instant approval.
- Identity Proof: Pan Card / Aadhaar Card / Voter Card / Passport
- Address Proof: Aadhaar Card / Utility bill/ Water bill / Rent Agreement
- Income Proof: 1) Last 3 months pay slip
2) Recent 6 months Bank Statement
3) Form 16 of salaried person
- Photocopy of applicant
- Other required documents
SBI Xpress Credit Personal Loan Interest & Charges
Defense/Para-military/Indian Coast Guard:
| Term Loan Interest rate | 11.50%- 12.00% p.a. |
| Overdraft Loan Interest rate | 12.00%- 12.50% p.a. |
| Processing fee | 1% + GST |
| Penal Charge | 2% / month |
| Prepayment fee | 3% |
Others Employee:
| Term Loan Interest rate | 11.50%- 13.50% p.a. |
| Overdraft Loan Interest rate | 12.00%- 14.50% p.a. |
| Processing fee | 1% + GST |
| Penal Charge | 2% / month |
| Prepayment fee | 3% |
Xpress Credit Instant Top-up Loan
| Interest rate | 11.60% p.a. |
Apply for SBI Xpress Credit Personal Loan
Step 1: Open the YONO application from the Smartphone.
Step 2: Go to the Loan section.
Step 3: Now, click on the “Xpress Credit Loan” tab.
Step 4: Give the required information.
Step 5: Share all the needed documents.
Step 6: The Bank will contact you and provide the loan.
Also Read: Can I get a personal loan if my salary is 12,000?
SBI Xpress Credit Personal Loan Customer Cares
Easily way contact SBI customer care for Xpress credit loan queries.
- 1800 1234
- 1800 2100
- 1800 11 2211
- 1800 425 3800
Contact SBI customer care on working days from 9 am to 6 pm.
FAQs on SBI Xpress Credit Personal Loan
What is the credit score needed for an Xpress Credit loan?
State Bank of India does not clearly say about credit score. However, employees with -1 or 720+ credit scores can apply for a SBI Xpress Credit Loan.
Can I apply for an SBI Xpress Credit loan digitally?
Individual salaried persons may apply for an SBI Xpress Credit loan from the YONO application. This digital application process provides instant approval.
What is the penal charge for an Xpress Credit loan?
The penal charge is 2% per month for SBI Xpress Credit personal loan.
What interest rate does the SBI Xpress Credit loan offer?
SBI calculates the interest rate on reducing balance. The starting ROI (Rate of Interest) is 11.50% to 14.50% p.a.