SBI Xpress Credit Personal Loan: A Loan for All Times


31 Mar 2019 | 3 min read

You can avail a personal loan to meet any short-term financial needs such as home renovation, unexpected medical emergency, for buying consumer durables, going on a vacation, to pay credit card debt and so on. And while going for a personal loan, you can opt for SBI Xpress Credit Personal Loan. Know why -

SBI Xpress Credit Personal Loan Interest Rates

Being one of the biggest lenders in the market, SBI offers loans for all sectors of society and serve customers across segments. The Xpress Credit Personal Loan is one such personal loan which caters to a vast section of borrowers including the esteemed government officers and armed personnel. 

The rate of interest break-up is as given in the table below:

Key Criteria Details
Rate of Interest 11.55% to 14.95% per annum
Loan Amount

Term Loan – Min. ₹ 25,000 (24 times NMI or ₹ 20 Lakh)

Overdraft – Min. ₹ 5 Lakh (24 times NMI or ₹ 20 Lakh)

Repayment Period 12 to 60 months
Processing Fee 0.50% of the loan amount
Prepayment Charges Up to 3.00% of the loan amount

Xpress Credit Interest Rates for Different Categories

For Defence/Para-Military/Coast-Guard and others:

The rate of interest applicable to the loans availed by the respected member of the forces and the para-military guards are as given below:

For Salaried and others:

Loan Type

2 Year MCLR

Spread on MCLR

Effective ROI

Term Loan


3.40% - 3.90%

11.55% – 12.05%

Over-Draft Facility

3.90% - 4.40%

12.05% - 12.55%

The rate of interest applicable on the loans availed by the general service and salaried classes are as given below:

Loan Type

2 Year MCLR

Spread on MCLR

Effective ROI

Term Loan


3.40% - 5.40%

11.55% – 13.55%

Over-Draft Facility

3.90% - 6.40%

12.05% - 14.55%

For IT Employees:

The rate of interest applicable on the loans availed by the employees working in the IT sector or with the top IT companies in India, are as given below:

Loan Type 2 Year MCLR Spread on MCLR Effective ROI
Term Loan 8.15% 4.80% - 6.80% 12.95% – 14.95%

Features of SBI Xpress Credit Personal Loan

Here are the salient features of the SBI Xpress Credit Personal Loan.

  • This is an instant personal loan scheme by SBI to address the needs of those with urgent fund requirements (sudden vacation, medical emergency, etc).
  • This scheme features a low SBI Personal Loan Interest Rate (with reducing balance)
  • The loan amount you can avail depends on your income and repayment capacity. Under SBI Xpress Credit Personal Loan, you can get a loan up to 24 times your NMI (Net Monthly Income) with a cap of Rs 15 Lacs.
  • The minimum loan amount you can borrow is ₹ 25000
  • You do not need to pay any administrative charges
  • You need to go through minimal documentation only.
  • You do not have to submit a security/collateral
  • You can also avail of a second Xpress loan, provided you have repaid the first one on time. You may get a higher personal loan quantum with added facilities.

Eligibility Criteria for Xpress Credit Personal Loan

You are eligible for this SBI personal loan if you are one of those salaried employees in -

  • A central/state PSU
  • State and Central government
  • Selected corporate groups
  • Educational institutions of repute

 Also, you must have a minimum NMI of Rs 7500. The EMI/NMI ratio, however, should be less than or equal to 50%

SBI Xpress Credit Personal Loan EMI Calculator

Now you can easily evaluate and calculate your SBI Xpress Credit Personal Loan EMI by making good use of the Personal loan EMI calculator at The calculator uses a simple and method-based approach to quickly calculate and determine the EMI outflow every month including the interest rate and other charges you will need to pay as part of the loan repayment.

However, for you to easily understand the basics of the loan process and the anticipated EMIs, we have prepared a table for various amounts at applicable interest rates;

Various amounts of loan taken at a rate of interest of 11.55% (effective rate of interest – 0.010% per month) for a fixed tenure of 3 years;

Loan Amount

ROI @ 11.55%

Tenure (Months)




₹ 2,00,000



₹ 2,37,598

₹ 6,599

₹ 37,598

₹ 3,00,000

₹ 3,56,397

₹ 9,899

₹ 56,397

₹ 4,00,000

₹ 4,75,196

₹ 13,199

₹ 75,196

₹ 5,00,000

₹ 5,93,996

₹ 16,499

₹ 93,996

₹ 10,00,000

₹ 11,87,992

₹ 32,999

₹ 1,87,992

SBI Xpress Credit Personal Loan Customer Care

State Bank of India offers 24X7 customer support to all its customers. In case of any query regarding the ongoing loan process, the loan application, transactions related to the loan disbursal, the customers can call on 1800-11-2211 and 1800 425 3800 which is a toll-free number.

For other relevant queries, a customer can also write an email to 

SBI Xpress Credit Personal Loan FAQ –

Q. What is SBI Xpress Credit Loan?

A. SBI offers the Xpress Credit Personal Loan scheme for individuals planning a wedding or vacation, or those making a plan for a big-ticket purchase. The loan can also be taken for tackling emergency situations for medical purposes.

Q. How much personal loan can I get on my salary from the SBI?

A. The loan applicant's minimum net monthly income (NMI) should be ₹ 5,000. The EMI/NMI Ratio should not be above 50%. Companies that do not have any business relationship with SBI OR any Emigration Check Required (ECR), subject to specific terms and conditions.

Q. Can I prepay the Xpress Credit Personal Loan?

A. Yes. Foreclosure i.e. full prepayment of SBI Xpress Credit loan is allowed subject to applicable terms and conditions. Additionally, a prepayment charge of up to 3% of loan prepaid is applicable in such cases.

Q. What is check off in the SBI loan?

A. SBI's “Xpress Credit” corresponds to personal loans provided by the means of the employers to their employees. The term Check-off, in this context, refers to the system whereby the employer regularly deducts a portion of an employee's salary and makes payments towards loan repayment.

Q. What is the maximum loan amount offered under the Xpress Credit Personal Loan offered by the SBI?

A. The maximum loan amount that anyone can borrow under the SBI Xpress Credit Personal Loan scheme is ₹ 20 Lakh or 24 times of Net Monthly Income for both the Term loan scheme and the Overdraft Loan facility.

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