SBI Personal Loan (Xpress Credit)
SBI's flagship personal-loan product is Xpress Credit, aimed primarily at salaried customers whose salary comes into an SBI account. It typically offers the lowest processing fee among the big three lenders and no foreclosure charges on floating-rate variants.
Last updated: 15 June 2025
Interest Rate
11.15% – 14.30% p.a.
Loan Amount
Up to ₹35 lakh
Tenure
6 to 72 months
Processing Fee
1.5% of loan (min ₹1,000, max ₹15,000)
Key features
- Interest from 11.15% p.a. linked to the 2-year MCLR + spread
- Loan up to ₹35 lakh for eligible salaried customers
- Tenure 6 to 72 months (5 years for high-value loans)
- No foreclosure charge on floating-rate personal loans
- Instant Xpress Credit available via YONO for pre-approved customers
Fees and charges
| Charge | Amount |
|---|---|
| Processing fee | 1.5% of loan (min ₹1,000, max ₹15,000) |
| Foreclosure charges | Nil on floating-rate; 3% on fixed-rate |
| Prepayment | Allowed after 6 EMIs at nil charge (floating) |
| Bounce charges | ₹500 per bounce + GST |
Eligibility at SBI
- Salary account with SBI (or corporate empanelled with SBI)
- Minimum monthly income ₹15,000 for government / defence employees; ₹25,000 for others
- Age 21 to 58 years
- Clean CIBIL history preferred
Government-employee edge
SBI's Xpress Credit is particularly aggressive for central-government, PSU, and defence employees. Rates start below 11.5% and processing is fast when the salary account is with SBI. Private-sector employees at empanelled companies also get preferential rates.