Xpress Credit Loans are like regular loans that you can use for any personal reason without needing to prove how you’ll spend the money.
Eligible employees: Employees of Central and State Government, Defense& Paramilitary Forces,Quasi-Government, Central PSUs & profit-making State PSUs, Educational Institutions of National Repute (Institutions under SBI Scholar Loan Scheme), Govt and aided schools, Corporates
| Minimum Service | Permanent employees with a minimum of 1 year’s length of service. 6-month service in case of defense and govt. salary package. |
| Min. CIBIL | 650 for Govt and defense employees 670 for others. |
| Min. salary | Rs. 15,000 NMI All platinum salary package customers (NMI>.Rs.1.00 Lakhs) should be offered Xpress Elite only. |
| Term Loan | Rs. 0.25 lacs to 20 lacs (Maximum limit for Diamond Salary Package Customers: Rs.30 Lakhs) |
| OD Facility | Rs. 5 lacs to 20 lacs (Maximum limit for Diamond Salary Package Customers: Rs.30 Lakhs) |
| Term | 72 m or residual service period, whichever is less. Note: For CSP other than Govt and Defense, loan should be repaid by 60 yrs age. |
| Security | No collateral security or third-party guarantee required. |
| EMI/NMI | EMI/ NMI: <=50% for Silver & Gold; <=55%for Diamond variants Max. amt of loan: 24 times NMI |
Interest concession of 0.50% subject to max. 1% overall for:
- Loan above 10 lacs
- Platinum salary package
- Ratna PSE employee
Note: Max. 2 loans allowed per CIF.