Monday, May 2, 2016

SBI interest rate update on Car loan, Personal loan and Education loan Interest rates effective from May 1st 2016





ANNEXURE I

HOME LOANS INTEREST RATE WEF 01.05.2016 (MCLR: 9.15%)


Category
Rate of Interest
EMI / lac *
Women Borrowers
9.35% p.a.
Rs. 830/-
Others
9.40% p.a.
Rs. 834/-


*Loan Tenor : 30 years


ANNEXURE II

CAR LOANS INTEREST RATE WEF 01.05.2016


Scheme
Interest Rate w.e.f. 01.05.16
(1 year MCLR: 9.20% p.a.)
Processing fee
i) SBI Car Loan, ii) NRI Car Loan, iii) Combo Loan Scheme, iv) SME Retail Car Loan Scheme   (excluding Taxi, Transport Operators and fleet segments in SME)
For Men: 0.60% above 1 year MCLR i.e. 9.75% p.a.
For Women: 0.55% above 1 year MCLR i.e. 9.70% p.a.






Rs. 500/-+S.T.
Loyalty Car Loan Scheme
SBI Car Loan, NRI Car Loan and Combo Loan Scheme
For Men: 0.50% above 1 year MCLR i.e. 9.65% p.a.
For Women: 0.45% above 1 year MCLR i.e. 9.60% p.a.
Certified Pre-owned Car Loan Scheme
For Men: 1.80% above 1 year MCLR i.e. 10.95% p.a.
For Women: 1.75% above 1 year MCLR i.e. 10.90% p.a.
Certified Pre-owned Car Loan Scheme
4.00% above 1 year MCLR i.e. 13.15% p.a.
0.50% of loan amount +ST
Min: Rs. 450 +ST
Max: Rs. 9100 +ST
Super Bike Loan Scheme
3.00% above 1 year MCLR i.e. 12.15% p.a.
2.00% of loan amount +ST
Min: Rs. 5400 +ST
Max: Rs. 17800 +ST

EMI per lac for 7 year loan for new car loans Rs. 1645 (women) and Rs. 1647 (men)


ANNEXURE III

PERSONAL LOANS INTEREST RATE WEF 01.05.2016


Personal Loans (Unsecured)
Revised Fixed Interest Rate linked to 2 year MCLR wef 01.05.2016
Scheme
2 year MCLR
Spread over 2 year MCLR
Effective Interest Rate
Reset Period
Xpress Credit - Full Check Off
9.25%
3.30% - 3.80%
12.55% - 13.05%
No Reset
Xpress Credit - Partial Check Off
9.25%
4.30% - 4.80%
13.55% - 14.05%
No Reset
Xpress Credit – No Check Off
9.25%
5.30% - 5.80%
14.55% - 15.05%
No Reset
SBI Pension Loan
9.25%
3.80%
13.05%
No Reset
Jai Jawan Pension Loan
9.25%
4.65%
13.90%
No Reset
SBI Saral
9.25%
8.40%
17.65%
No Reset
Festival Loan
9.25%
6.65%
15.90%
No Reset
Education Plus
9.25%
4.40%
13.65%
No Reset
Bhagya Rekha Loan for Women
9.25%
1.90%
11.15%
No Reset
Clean Overdraft
9.25%
7.40%
16.65%
No Reset
Personal Loans (Secured)
Revised Floating Interest Rate linked to 1 year MCLR wef 01.05.2016
Scheme
1 year MCLR
Spread over 1 year MCLR
Effective Interest Rate
Reset Period
SBI Personal Gold Loan
9.15%
2.00%
11.15%
1 year
Loan against Shares
9.15%
3.00%
12.15%
1 year
Loan against NSC/ KVP/ RBI Relief Bond/ Surrender Value of SBI Life/ LIC/ SBI Magnum
9.15%
4.50%
13.65%
1 year
Loan against Debentures
9.15%
6.50%
15.65%
1 year
Loan for subscription to IPOs
9.15%
6.50% - 7.00%
15.65% - 16.15%
1 year
Loans to Employees to subscribe for ESOPs
9.15%
6.50%
15.65%
1 year
Equity Plus
9.15%
6.50%
15.65%
1 year
Loan against SBI Debt Fund Series
9.15%
4.50%
13.65%
1 year
SBI Career Loan
9.15%
4.25% - 4.50%
13.40% - 13.65%
1 year
Loan against FCNR (B) Deposit
9.15%
2.25%
11.40%
1 year
Personal Loans (Secured)
Interest Rate wef 01.05.2016
Loan against Bank’s Time Deposits (Domestic)
1% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.
Loan Against Floating Rate Term Deposit (Domestic)
1.50% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.
Loan against Bank’s Time Deposits and NRO Fixed Deposits
1% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.
Loan against NRE Fixed Deposits
1% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.


ANNEXURE IV

EDUCATION LOAN INTEREST RATE WEF 01.05.2016


Revised Floating Interest Rate linked to 1 year MCLR wef 01.05.2016
SBI STUDENT LOAN
Limit
1 year MCLR
Spread
Effective Interest Rate
Reset Period
Upto Rs. 7.5 Lacs
9.15%
2.00%
11.15%
1 year
Above Rs. 7.5 Lacs
9.15%
1.70%
10.85%
1 year
Further Concession
0.50% concession in interest for girl students
1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration
SBI SCHOLAR LOAN
Category
1 year MCLR
Spread
Effective Interest Rate
Reset Period
List AA
9.15%
0.40%
9.55%
1 year
List A
9.15%
0.50%
9.65%
1 year
List B
9.15%
0.80%
9.95%
1 year
Further Concession
0.25% – if collateral security >= the loan amount
0.25% – work experience of more than 2 years
(Effective rate of interest with both concessions not to be lower than 0.40% above 1 year MCLR presently, 9.55% p.a.)
List C
9.15%
1.90%
11.05%
1 year
Further Concession
1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration
Scheme
1 year MCLR
Spread
Effective Interest Rate
Reset Period
SBI SKILL LOAN SCHEME
9.15%
3.90%
13.05%
1 year
Further Concession
1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration
Scheme
1 year MCLR
Spread
Effective Interest Rate
Reset Period
SBI GLOBAL ED-VANTAGE
9.15%
1.70%
10.85%
1 year
Further Concession
0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of our Bank
0.50% concession for girl students

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