What is Meant by Xpress Credit Loan in SBI?

SBI offers the Xpress Credit Loan. This SBI Xpress credit loan is lowest interest rate, comparison of other bank. This loan is emergency financial needs. People can be taken for the wedding or vacation purposes. This personal loan people can easily return.

Benefits of the SBI Xpress credit loan.

• SBI Xpress credit loan as well as personal loan is provide up to 20 lakhs.
• Lowest interest rate.
• This personal loan processing charge is very low.
• This personal loan is giving from SBI bank without any kind of security or guarantor.
• Easy to return.

Eligibility Criteria  for SBI Xpress credit loan.

• To take this personal loan minimum age required is 18 years. Who have CIBIL score is good, only those people can also eligible for this loan.
• Loans to salaried employees having salary account with SBI.
• who have job with minimum salary is 15000/month, those people can apply for this loan.
• Individuals with EMI/NMI ratio less than 50%.

Interest rate.

Interest rate is very low. Interest rate for this loan is 11.60%/p.a.

Terms & Condition.

Loan Amount	For Term Loan – Rs.25000 to Rs.20lakhs/24 times the NMI. For Overdraft Loans – Rs.5lakhs to Rs.20lakhs/24 times the NMI.
Loan Tenure	6 months to 6 years/remaining period of service, whichever is lower.
Processing Fee	1.5% of the loan amount + tax.
Panel Interest	2% per month.
Prepayment Charges	3% on prepaid amount*.

* There will be no prepayment charges if the amount is closed using the amount borrowed through a new loan under the Xpress Credit Loan scheme 

How to apply for this loan?

There is two methods of applying this loan

1. Offline apply
2. Online apply

Step#1: Offline apply: offline apply means you need go to bank branch.

• Take the form.
• Fulfill the form.
• Submit the form along with proper documents.

Step#2: Online apply: you can apply from SBI official website and you can apply from YONO application.

SBI custom care number.

The customer care number on which you can call are 1800 112 211, 1800 425 3800 and 0802 6599 990. You can call any one of the flowing numbers to get in touch with a customer care executive from the bank and place your query.

Note .

• See note on Health.