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SBI XPRESS CREDIT PERSONAL LOAN

ABOUT SBI XPRESS CREDIT PERSONAL LOAN :

SBI Xpress Credit is a type of personal loan offered by State Bank of India to salaried individuals. SBI Xpress Credit personal loan also used for various personal expenses such as vacation expenses, wedding expenses, 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.

BENEFITS OF SBI XPRESS CREDIT PERSONAL LOAN :

1. Minimum documentation :

SBI Xpress Credit provides less and minimal documentation for the customers. It is not required to submit so many documents for a personal loan. The process of documentation is very simple and fast.

2. Less interest rate :

The minimum interest rate of Indusind bank personal loans is 11.50% and the maximum interest rate is 12%. Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile and the most probably Cibil score. 

3. Quick approval :

SBI Xpress Credit provides personal loan approval in a very speedy way for the customers so they don't have to waste their precious time for loan approval. They can easily get approval for the personal loan either online or offline.

4. No requirement for security or guarantor :

SBI Xpress Credit is an unsecured loan so you does not need to submit any collateral and guarantor for personal loan 

 

FEE & CHARGES OF SBI XPRESS CREDIT PERSONAL LOAN :

TYPE

CHARGES

Processing fees

1% of the loan amount plus additional taxes

Part payment charges

Not allowed

Pre-closure charges

3% on prepaid amount

Penal interest

2% per month

 

DOCUMENTS REQUIRED FOR SBI XPRESS CREDIT PERSONAL LOAN :

TYPE

DOCUMENTS

Identity proof

Aadhar card, pan card, driving license, passport etc.

Address proof

Aadhar card, voter id, rental agreement, registry and utility bills

Income proof

Salary Slips, Bank Account Statement, ITR, etc


ELIGIBILITY CRITERIA FOR SBI XPRESS CREDIT PERSONAL LOAN :

It is compulsory that you fall under eligibility criteria of SBI Xpress Credit Personal loan to get benefits of this loan. Check it according to the points list below 

  • Salary account with SBI is necessary

  • You should be an employee of the state govt. PSUs institutions of national repute/selected corporates or central/state/quasi government organization/central /educational with or without relationship with the bank

  • Your min. monthly income at least  Rs. 15,000

  • Your EMI ratio should be below than 50%

 

COMPARE OTHER BANK PERSONAL LOAN INTEREST RATE :

BANKS

INTEREST RATES

AXIS Bank Personal Loan

12% to 24%

SBI Personal Loan

11.30% to 16.40%

SBI Xpress Bandhan

12.15% to 15.15%

SBI Xpress Credit Personal Loan

11.50% to 12%

HDFC Bank Personal loan

10.75% to 21.50%

Kotak Mahindra Bank Personal Loan

10.50% to 16.99%

Yes Bank Personal Loan

20.00% to 22.00%

Citi Bank Personal Loan

10.50% to 17.99%

ICICI Bank Personal Loan

10.99% to 16.25%

Standard Chartered Bank Personal Loan

11.00% to 19.20%

IDBI Bank Personal Loan

12.00% to 14.00%

RBL Bank Personal Loan

14.00% to 23.00%

HSBC Bank Personal Loan

10.75% to 17.84%

IndusInd Bank Personal Loan

11.00% to 16.75%

Bank of Baroda Personal Loan

7.65% to 12.65%

Bank of India Personal Loan

12.15% to 14.15%

Canara Bank Personal Loan

12.05% onwards



HOW TO APPLY FOR SBI XPRESS CREDIT PERSONAL LOAN :

By 2 Ways you can apply for SBI Xpress credit personal i.e. 

1. OFFLINE METHOD : By visiting to the nearest bank

2. ONLINE METHOD :

  • Go to SBI bank official portal

  • At home page go to “personal”  and click on “Loan” 

  • In loan section click on “ personal Loan”

  • choose “SBI Xpress credit personal loan”

  • Fill the application form 

  • Attached all required documents with application form

  • After submitting your application form you will get notification through bank about loan status

 

FREQUENTLY ASKED QUESTIONS :

1. What is the maximum tenure of personal loan in SBI Xpress Credit Bank?

The maximum tenure of personal loan in SBI Xpress Credit Bank is 5 years.

2. How can I get an SBI Xpress Credit Bank personal loan ?

You can get a personal loan from SBI Xpress Credit Bank by online or offline method.

3. What is the loan amount of SBI Xpress Credit Bank personal loan ?

The minimum loan amount is Rs. 25000 and maximum is Rs 20 lakh of SBI Xpress Credit Bank personal loan.

4. What were the processing fees charged by SBI Xpress Credit Bank personal loan?

SBI Xpress Credit Bank charges processing fees is 1% of the loan amount plus GST.

Last Updated on : 07/Sep/2020

Know More About

Sbi Xpress Credit Personal Loan

You're eligible for a Sbi Xpress Credit Personal Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Personal Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Sbi Xpress Credit Personal Loan Interest Rates

Updated on 25 Nov 2017

Sbi Xpress Credit Personal Loan Details
Interest Rate (Monthly reducing balance) 11.5% - 12%
Processing Fees 1% of the Loan Amount + applicable Service Tax
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Personal Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959