SBI xpress credit loan

How to fill SBI xpress credit loan application form-eligiblity and interest rate 2021

SBI xpress credit loan

SBI Xpress Credit loan is a sort of personal loan offered to salaried individuals by State Bank of India (SBI). This unsecured loan has a low documentation requirement and a speedy disbursement. Personal loans from SBI Xpress Credit loan can be utilised for a variety of purposes, including debt reduction, vacations, weddings, consumer durable purchases, and more. The loan amount available under this personal loan scheme ranges from Rs. 25,000 to Rs. 20 lakh.

SBI Xpress Credit Loan Benefits

The loan amount granted by SBI Xpress Credit Personal Loan starts at Rs. 25,000 and goes up to Rs. 20 lakh.
Tenure that can be changed: The repayment period for an SBI Xpress Credit Personal Loan ranges from 6 months to 6 years, ensuring easy repayment.
Documentation required at a minimum: SBI just requires the bare minimum of documentation to execute your personal loan application, saving you time and effort.
Disbursement in a timely manner: Once your loan is accepted, the bank will promptly deposit the funds into your account.

 SBI xpress credit loan
SBI xpress credit loan

SBI Xpress Credit Interest Rate

For Defence/ Para-Military/ Indian Coast Guard Salary Package Applicants

Term Loan10.85% – 11.35%
Overdraft11.35% – 11.85%

for other applicants

Term Loan10.85% – 12.85%
Overdraft11.35% – 13.85%
Central and State Government, Quasi-Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National Repute Employees11.75% – 13.85%
Employees of Co-operatives/Institutions not covered under regular Xpress Credit loan scheme and Unrated Corporates12.50% – 14.10%

Criteria for Eligibility


You must be a salaried employee of the federal, state, or quasi-government, central PSUS and profit-making state PSUS, nationally renowned educational institutions, and select corporations with or without a partnership with the bank.
A minimum monthly income of Rs. 15,000 is required.
After deducting the EMI for the proposed loan, your EMI/NMI ratio should be less than 50%.

Documents required for SBI Xpress Credit Loan

PAN, Aadhaar, Passport, Voter ID Card, Passport, and other documents are required as proof of identity.
Ration card, electric bill, phone bill, rent/purchase agreement, Aadhaar card, PAN card, voter ID card, etc. are all examples of proof of address.
Salary slips, bank account statements, ITRs, and other forms of proof of income are acceptable.

Fees and Other Charges for SBI Xpress Credit Loan

Processing fee1.50% of the loan amount (subject to minimum Rs. 1,000 and maximum Rs. 15,000 plus applicable Tax
Penal interest2% p. m would be charged over and above the applicable interest rate on overdue amount for the period of default.
Prepayment charges3% on prepaid amount. No prepayment/ foreclosure charges if account is closed from the proceeds of a new loan account under same scheme

SBI Customer Care

  • You can call on 1800-112-2111800-425-3800 o080-26599990
  • You can SMS UNHAPPY to 800-8202-020
  • You can write to the bank at Customer Service Department, State Bank of India

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