|Loan Name||Interest Rate||Processing Fee||Loan Amount||Tenure|
|SBI Pension Loan||11.75% - 14.75%||0.50% of the loan amount + Tax for all other Pensioners including family Pensioners.||18 months pension or Rs 14,00,000||up to 84 months|
FOR FAMILY PENSIONERS
FOR DEFENCE PENSIONERS
FOR CENTRAL AND STATE GOVERNMENT PENSIONERS
|Xpress Credit Personal Loan||12.00% - 14.15%^||1% of the loan amount+available service tax.||up to Rs 20,00,000||up to 5 years|
|Pre Approved Personal Loans||11.95% to 17.05%(Depends upon Salaried & Non-Salaried)||2% to 3% of the loan amount||up to Rs 2,00,000||up to 7 years|
|SBI Recurring Deposits(RD)||Up to 7.20%||0||No maximum limit||Up to 10 years|
|SBI Personal Loan||Up to 16.60%||1% of the loan amount+applicable GST||Up to 15 Lakhs||Up to 5 years|
|SBI Xpress Power||Up to 14.15%||1% of the loan amount+applicable service tax||Up to 15 Lakhs||Up to 5 years|
SBI is one of the biggest multinational public sector banks of India.SBI offers a huge range of personal loan schemes.
FEATURES & BENEFITS OF SBI PERSONAL LOAN
FOR SALARIED EMPLOYEES
FOR SELF EMPLOYED APPLICANTS
FOR GOVERNMENT AND DEFENCE PENSIONERS
FOR FAMILY PENSIONERS
FOR SALARIED EMPLOYEES & PENSIONERS
FOR NON-SALARIED /BUSINESSMAN
PROCESSING COST, TENURE AND INTEREST RATES
Sbi Personal Status is the most convenient feature for its applicants who are availed loan from Sbi Bank. This feature is available for the applicants who have taken Personal Loans. Car Loans, Home Loans, Car-n-Cash Loans, Business Loans, Two Wheeler Loans, Loan against Property.
Sbi Personal Loan Status can be track from below 4 procedures
Details Require to Track the status of Sbi Personal Loan
Through Sbi official portal
Through Sbi Net Banking
Through Sbi Mobile App
Applicants can also check their loan status by visiting nearest Sbi Bank. Just you have to do is provide your Reference Number through which the bank representative will provide you the status of your loan.
Apart from this, you can also take help from 24x7 customer support. Just dial on the tollfree number 1800 11 2211, 1800 425 3800, 080-26599990 and provide your registered mobile number and reference number through which the customer care executive track your loan application and provide the status to you instantly.
The variable interest rate of the loan will be paid at the current floating interest rate on a regular reducing balance at a monthly basis. The interest rate is subject to change occasionally according to variations in the base rate and revision without any alteration in the base rate and the bank has the flexibility of lowering or raising the EMI or expanding the repayment period or both as a consequence of interest rate variation.
Report on change in Interest Rate
When there are changes to the base interest rate increases in the situations where no alteration in the base rate exists, the borrower shall be provided to have confirmation of changes to the interest rate if either they are shown on the Branch's notice board and posted in the newspaper or made public in the form of passbook or account statement interest rate payable by the borrower.
Sbi Personal Loan interest
Sbi Personal Loan interest rates start from 12.50% with the lowest rates for salaried lenders associated with reputed companies and 11.20% for self-employed entities.
The loan is to be reimbursed in equal instalment payout on the loan term or in lump-sum depending on the product, at the end of the loan tenure. The reimbursed begins on a date stipulated in the letter of sanction. The liability to the bank will only be discharged if on payment of the residual sum the outstanding in the loan account is Zero.
Check-off feature or post-dated cheques with the bank for the term of repayment granted or SI from the borrower's salary/pension account. In the case of rent plus, if the agreement so states the lessee will pay the monthly rate directly to the bank.
Penal interest will not be paid on loans up to Rs 25000. On loans above Rs 25000, if the irregularity crosses EMI or the balance of the repayment of 1 month, the interest rate would be paid @2% per annum on the overdue amount of default period. If the EMI or part of an installment is remained overdue, no penal interest will be charged in such case.
A fine of Rs 250 will be paid for each bounced cheque/ECS or SI dishonour. The rate may differ from time to time. If the cheque bounces, legal action will be conducted pursuant to Section 138 of the Negotiable Instrument Act, 1881.
Xpress Credit- 1% of the loan amount
Sbi Saral- 2%-3% of the loan amount
SBI Career Loan- 0.5% of the loan amount
Loan for ESOPs- Rs 2000 per application
Equity Plus- Rs 2000 per application
Festival Loan- 1% of the loan amount
Loan against Mortgage of Immovable Property- 2% of the loan amount, maximum up to Rs 50000
Rent Plus- 2% of the loan amount, maximum up to Rs 100000
Gold Loan- For Loan up to Rs 25000, Rs 500 per application
Loan against units of MF (Equity)- 1% of the loan amount
Loan for application to IPOs- First Loan- Rs 500, Second Loan- Rs 100, After 3 loans- NIL
Advance against RBI Relief Bonds- 1% of the Loan Amount
Sbi Personal Loan Pre-Closure Charges
Fixed or varying interest rates on loans, No prepayment or pre-closure fee will be paid with a repayment penalty except rent plus where 1% of the prepayment amount of the loan is charged.
Let us know what is Personal Loan EMI?
Equated Monthly Installments or the amount payable per month when an applicant take a certain amount for some period of time on a personal loan. EMI estimation relies on three main factors:
Using Sbi Personal Loan EMI Calculator is the way to find out the EMI and total interest of for your Personal Loan at SBI. This is a basic calculator to measure the EMI, monthly interest rate and monthly balance reduction based on the principal amount, loan tenure and interest rate.
Sbi Personal Loan Calculator Formula
Above mentioned is the formula for how SBI Personal Loan EMI is calculated
In the above formula,
P = Loan amount. This can range from Rs 50000 to Rs 15 Lakh
r = Rate of interest per month. Current rate is 12.50%
n = tenure in month. For SBI, this can be 72 months
How to use Sbi Personal Loan EMI Calculator?
For Salaried Applicants- 6 months to 72 months
For self-employed- 12 months to 48 months
Deputy General Manager (Customer Service),
Customer Service Dept, State Bank of India
State Bank Bhawan, 4th floor; Madame Cama Road, Mumbai-400 021
Telephone No. (022) 22029456, 22029451 22740432, 22740431, 22740433
Fax no. (022) 22742431.
E-mail address - firstname.lastname@example.org.
Q: How many types of personal loans are there in SBI?
A: State Bank of India provides three types of personal loans they are listed below:
1.XPRESS CREDIT PERSONAL LOAN
2.SBI XPRESS BANDHAN LOAN
Q: What is xpress credit loan in SBI?
A: SBI Xpress credit loan belongs to the personal loan which is offered to those who are maintaining the salary account with State bank of India. The minimum net monthly salary should be Rs.7500/-.The minimum repayment period will be six months and the maximum period is up to five years. The following categories only avail the Xpress credit personal loan in SBI:
Q: Is there any penalty charges in case of late payment of SBI personal loan?
A: Yes, if the irregularity Exceeds EMI or instalment payment for a period of one month then the penal interest will be charged at 2% per month.
Q: What are the chances to get a better rate of interest on a personal loan in Sbi?
A: The following three tricks may help you to get a good rate of interest in SBI:
Q: How can the customers get in touch with SBI for customer service?
A: The State bank of India provides customer service through online and as well as from its branches. They allotted separate cells for the personal loan. Interested customers may contact customer grievance cells at local head offices or can visit www.sbi.co.in to get more details.