Loans to Salaried Customers not maintaining Salary Account with us(SBI Quick Personal loan):
No matter where you maintain your Salary Account, SBI has customized a Personal Loan for you. Whether it’s your wedding or a vacation, unplanned emergency or planned purchase, get quick approval with minimal documentation through Contactless Lending Platform (CLP).
Eligibility :
Individuals having Salary Account with any other Bank
Minimum Net Monthly Income: Rs. 15,000/-
EMI/NMI Ratio less than 50%
Employees working with
Central/ State/ Quasi Governments,
Central & State PSUs
Corporate (Private & Public Ltd.)
Educational institutions of National Repute
Age: 21-58 years
Minimum service of 1 year
Loan Amount
Minimum: Rs. 24,000
Maximum: Rs. 20,00,000 / 24 times NMI
Features :
Loans up to Rs. 20 lakhs
Low interest rates
Interest on daily reducing balance
Low processing charges
Minimal documentation
No hidden costs
Provision for second loan
No security, no guarantor
Terms And Conditions:
Processing fee: 1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-) plus GST
Penal Interest @2% p. m would be charged over and above the applicable interest rate on overdue amount for the period of default.
Prepayment charges of 3% on prepaid amount. No prepayment/ foreclosure charges if account is closed from the proceeds of a new loan account under same scheme.
Repayment Period:
Minimum: 6 months
Maximum: 72 months or remaining period of service (whichever is lower).
Checklist of Documents:
Income Tax Return (To be uploaded on CLP)
Bank Account Statement of last 6 months (To be uploaded on CLP)
2-passport size photographs
Latest month Salary Slip
Proof of Identity & Current/ Permanent Address, as per Bank’s KYC guidelines
Authorized Branch: Applicant should select any SBI branch on CLP near to place of his/ her present posting or home
Interest Rate for SBI QUICK PERSONAL LOANS THROUGH CLP PORTL
2 year MCLR :7.20%
Spread over 2 year MCLR :3.65-5.65%
Effective Interest Rate with No Reset: 10.85% - 12.85%
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