Apply for instant SBI Xpress Credit Loan for up to Rs. 20 Lakhs at attractive interest rates starting from 10.10% p.a. and repay in easy EMIs within 6 years tenure. You can avail of SBI Xpress personal loan online with minimal documentation without any security or guarantor.
Following are the SBI Xpress Credit personal loan details:
|Minimum loan amount||Rs. 25,000 for Term Loans & Rs. 5 Lakhs Overdraft Loans|
|Maximum loan amount||Rs. 20 Lakhs for Term Loans & Overdraft Loans|
|Tenure||6 months to 6 years|
|Rate of interest||Starting at 10.10% p.a.|
|Processing fee||100% waiver till 31st January 2022|
|Prepayment charges||Up to 3% of the prepaid amount|
|Minimum age||21 years|
|Minimum monthly income||Rs. 15,000|
Following are the key features of SBI Xpress Credit Loan:
The SBI Xpress Credit loan interest rate depends on the loan type, borrower’s type, eligibility and repayment capacity.
|XPRESS CREDIT (including Pre-Approved Xpress Credit)|
|Borrower Type||Term Loan||Overdraft Facility|
|Defence, Para-Military, & Indian Coast Guard Salary Package Applicants||10.60% to 11.10%||11.10% to 11.60%|
|Other Applicants||10.60% to 12.60%||11.10% to 13.10%|
SBI offers special concessions in Rate of Interest (ROI) to the following category of borrowers under the Xpress Credit scheme:
|XPRESS CREDIT- NON-PERMANENT EMPLOYEES (NPES)|
|Central & State Government, Quasi-Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National Repute||11.50% to 13.60%|
|Co-operatives or Institutions not covered under regular Xpress Credit scheme & Unrated Corporates||12.25% to 13.85%|
|Xpress Credit Insta Top-Up|
To apply for the SBI Xpress Credit loan documents required by the applicant are as mentioned below:
The eligibility criteria for SBI Xpress personal loan are as mentioned below:
Xpress Credit Loan meaning express or fast loan process. Applying for SBI Xpress Credit Loan is simple with MyMoneyMantra. All you have to do is:
Apart from the applicable interest rate, SBI Xpress Credit Loan also involves the following charges:
The SBI Xpress Credit Loan EMI Calculator is an online tool that can be used to calculate the monthly EMI paid for an SBI Personal Loan. The EMI can be computed using the three loan elements, including the rate of interest, the principal loan amount and the repayment tenure. On entering these parameters your monthly EMIs are calculated within seconds.
The SBI Xpress Loan EMI Calculator helps you in planning the loan payments beforehand. You can then make an informed decision and proceed ahead. The calculator also shows you the complete amortization schedule along with the EMI.
Ahead of festival season, Kotak Mahindra Bank has announced Rs 999 flat processing fee offer on Personal Loans. Customers can avail of instant approvals on personal loan applications up to Rs. 20 Lakhs at lowest interest rate starting at 10.25% p.a for maximum of 5 years.
Know how good your score is
Get insights on how to improve it
Unlock offers as per your score
You can cancel or close your SBI Xpress loan account by following the steps mentioned below:
The SBI Xpress Credit loan interest rate varies from 10.10% to 13.85% p.a.
The Pre-approved Xpress Credit is sanctioned for a maximum period of 6 years.
You can foreclose the SBI Xpress Credit personal loan account anytime by paying the prepayment charges of 3% on the prepaid amount. Prepayment charges are not levied by the bank if the loan account is closed from the proceeds of a new loan account opened under the same scheme.
Once you have filled in the Xpress Credit Loan application form and applied for the loan, you can easily check your SBI Xpress Credit status online and offline. After the loan application, you will get a reference number. You can use your reference number and registered mobile number to check your SBI personal loan status.
All you need to do is:
You can also check your SBI Loan status offline by visiting the nearest SBI branch and taking help of an SBI official. Make sure to carry all the relevant documents and remember your reference number to check your SBI personal loan status.