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SBI Interest Rates for Perquisite Valuation

SBI Lending Rates for AY 2019-20 and AY 2018-19

SBI Lending Rates as on 01.04.2018 for AY 2019-20
1 year MCLR Rate: 8.15%  2 year MCLR Rate: 8.25%

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I. Term Loans Upto Rs. 30 lacs

Salaried Borrowers (%) :Non-Salaried Borrowers (%) :
WomenLTV ≤ 801 Year MCLR + 20 bps, ER:8.351 Year MCLR + 35 bps, ER:8.50
LTV > 80
LTV ≤ 90
1 Year MCLR + 30 bps, ER:8.451 Year MCLR + 45 bps, ER:8.60
OtherLTV ≤ 801 Year MCLR + 25 bps, ER:8.401 Year MCLR + 40 bps, ER:8.55
LTV > 80
LTV ≤ 90
1 Year MCLR + 35 bps, ER:8.501 Year MCLR + 50 bps, ER:8.65

II. Term Loans above Rs. 30 lacs and upto Rs. 75 lacs

Salaried Borrowers (%) :Non-Salaried Borrowers (%) :
WomenRG-1, 2 ,31 Year MCLR + 35 bps, ER:8.501 Year MCLR + 50 bps, ER:8.65
RG-4, 5, 61 Year MCLR + 45 bps, ER:8.601 Year MCLR + 60 bps, ER:8.75
OtherRG-1, 2 ,31 Year MCLR + 40 bps, ER:8.551 Year MCLR + 55 bps, ER:8.70
RG-4, 5, 61 Year MCLR + 50 bps, ER:8.651 Year MCLR + 65 bps, ER:8.80

III. Term loans above Rs. 75.00 lacs - Floating Rate

Salaried Borrowers (%) :Non-Salaried Borrowers (%) :
WomenRG-1, 2 ,31 Year MCLR + 45 bps, ER:8.601 Year MCLR + 60 bps, ER:8.75
RG-4, 5, 61 Year MCLR + 55 bps, ER:8.701 Year MCLR + 70 bps, ER:8.85
OtherRG-1, 2 ,31 Year MCLR + 50 bps, ER:8.651 Year MCLR + 65 bps, ER:8.80
RG-4, 5, 61 Year MCLR + 60 bps, ER:8.751 Year MCLR + 80 bps, ER:8.90

Education Loan Schemes - Rate of Interest (As on 01.04.2018)

SBI Student Loan Scheme

Loan Limit1 year MCLRSpreadEffective Interest RateReset Period
Upto Rs. 7.5 Lacs8.15%2.00%10.15%1 year
Above Rs. 7.5 Lacs8.15%2.75%10.90%1 year
Concession0.50% concession in interest for girl student
Further Concession1% 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 Scheme

Category1 year MCLRSpreadEffective Interest RateReset Period
List AAROI8.15%0.35%8.50%1year
ConcessionNo Further Concession
List AAll IIMs & IITs8.15%0.35%8.50%1 year
ConcessionNo Further Concession
Other institutes8.15%0.50%8.65%1 year
ConcessionNo Further Concession
List BAll NIITs8.15%0.50%8.65%1 year
ConcessionNo Further Concession
Other Institutes8.15%1.00%9.15%1 year
Concession0.25% - if collateral security ≥ the loan amount
0.25% - work experience of more than 2 years
List CAll NIITs8.15%0.50%8.65%1 year
ConcessionNo Further Concession
Other Institutes8.15%2.00%10.15%1 year
Concession1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration

SBI Skill Loan Scheme

Loan Limit1 year MCLRSpreadEffective Interest RateReset Period
Upto Rs. 1.5 Lacs8.15%1.50%9.65%1 year
Concession1% concession for full tenure of the loan, if interest is serviced promptly as and when applied during the moratorium period, including course duration

SBI Global Ed-Vantage Scheme

Loan Limit1 year MCLRSpreadEffective Interest RateReset Period
Above Rs. 20 lacs & Upto Rs 1.5 Cr8.15%2.50%10.65%1 year
Concession0.50% concession for students availing of SBI Rinn Raksha or any other existing life insurance policy assigned in favour of our Bank
Further Concession0.50% concession for girl students

SBI Takeover of Education Loan Scheme

Loan Limit1 year MCLRSpreadEffective Interest RateReset Period
Upto Rs. 1.5 Lacs8.15%1.50%9.65%1 year
Concession0.50% concession in interest for girl students

Personal Loan Schemes

XPRESS Credit Scheme for Defence/Para-Military/Indian Coast Guard Salary Package (DSP/PMSP/ICGSP) Applicants

i. Term Loan facility:

TU CIBIL Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
≤ 6508.25%3.40%11.65%
< 6508.25%3.90%12.15%

ii. Overdraft facility:

TU CIBIL Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
≤ 6508.25%3.90%12.15%
< 6508.25%4.40%12.65%

Note:

a) Following category of borrowers will get special concessions:

CriteriaConcession Offered
Where 'Check-Off' is provided.50 bps in Rate of Interest
Loan amount ≥ Rs 10,00,000.50 bps in Rate of Interest

b) In case of the customers with No CIBIL TU score, Risk Scoring Model(RSM) score shall substitute the CIBIL TU Score in interest rate structure as under:

TU CIBIL Score≥ 650< 650
RSM≥ 73< 73

Xpress Credit Scheme for other than (DSP/PMSP/ICGSP) Applicants

iii) Term Loan facility

ECRCIBIL TU Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
A- and above≥ 7508.25%3.40%11.65%
A- and above700 - 7498.25%3.90%12.15%
A- and above650 - 6998.25%4.40%12.65%
A- and above550 - 6498.25%4.90%13.15%
A- and above≤ 5508.25%5.90%14.15%
BBB+ and below≥ 7508.25%4.40%12.65%
BBB+ and below700 - 7498.25%4.90%13.15%
BBB+ and below650 - 6998.25%5.40%13.65%
BBB+ and below550 - 6498.25%5.90%14.15%
BBB+ and below≤ 5508.25%6.40%14.65%
UnRated≥ 7508.25%4.40%12.65%
UnRated700 - 7498.25%5.4013.65%

iv) Overdraft facility

RatingCIBIL TU Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
A- and above≥ 7508.25%3.90%12.15%
A- and above700 - 7498.25%4.40%12.65%
A- and above650 - 6998.25%4.90%13.15%
A- and above550 - 6498.25%5.40%13.65%
A- and above≤5508.25%6.40%14.65%
BBB+ and below≥ 7508.25%4.90%13.15%
BBB+ and below700 - 7498.25%5.40%13.65%
BBB+ and below650 - 6998.25%5.90%14.15%
BBB+ and below550 - 6498.25%6.40%14.65%
BBB+ and below≤5508.25%6.90%15.15%
UnRated≥ 7508.25%4.90%13.15%
UnRated700 - 7498.25%5.9014.15%

Note for loans under Xpress Credit scheme:

c) Following category of borrowers will get special concessions:

CriteriaConcession Offered
Where 'Check-Off' is provided.50 bps in Rate of Interest
Loan amount ≥ Rs 10,00,000.50 bps in Rate of Interest

d) In case of the customers with No CIBIL TU score, Risk Scoring Model(RSM) score shall substitute the CIBIL TU Score in interest rate structure as under:

TU CIBIL Score≥ 750700 - 749650 - 699550 - 649≤550
RSM≥ 8478 - 8373 -7762 - 72≤ 62

Xpress Credit - IT Employees Scheme

Credit Info Bureau Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
750 and above8.25%2.80%13.05%
550 - 7498.25%5.80%14.05%
Less than 550/ No Score8.25%6.80%15.05%

Xpress Elite Scheme

Xpress Elite Scheme for SBI Salary Package A/c Holders

Credit Info Bureau Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
800 and above8.25%2.40%10.65%
700 - 7998.25%2.90%11.15%
600-699/ No Score8.25%3.90%12.15%
Less than 600No Loan

Xpress Elite Scheme for Other than Salary Package A/c Holders (including Applicants not maintaining Salary A/c with SBI)

Credit Info Bureau Score2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
800 and above8.25%2.65%10.90%
700 - 7998.25%3.15%11.40%
600-699/ No Score8.25%4.15%12.40%
Less than 600No Loan

Xpress Credit - Non-Permanent Employees (NPES)

Employer TypeRate of Interest
i) Central and State Government, Quasi-Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National ReputeCheck-off Category-I : 430 bps above 2 yr MCLR i.e. 12.55%

Check-off Category-II: 640 bps above 2 yr MCLR i.e. 14.65%
ii) Co-operatives/ Institutions not covered under regular Xpress Credit loan scheme and Unrated CorporatesCheck-off Category-I:
505 bps above 2 yr MCLR i.e. 13.30%

Check-off Category-II:
665 bps above 2 yr MCLR i.e. 14.90%

Other Loans

Other Unsecured Personal Loans Revised

Scheme2 year MCLRSpread over 2 year MCLREffective Interest Rate with No Reset
SBI Pension Loan8.25%3.35%11.60%
Jai Jawan Pension Loan8.25%3.35%11.60%
Pension Loan To Coal Mines Provident Fund (CMPF) Pensioners8.25%3.35%11.60%
Clean Overdraft8.25%8.45%16.70%
OD for e-Commerce purchases8.25%5.50%13.75%

Loans Against Securities Revised

Scheme1 year MCLRSpread over 1 year MCLREffective Interest RateReset Period
Gold Loan (all variants)8.15%2.00%10.15%1 year
Loan against Shares8.15%3.15%11.30%1 year
Loan against Mutual Funds & Dual Advantage Fund8.15%2.50%10.65%1 year
Loan against SGB8.15%2.00%10.15%1 year
Loan against NSC/KVP/RBI Relief Bond/Surrender Value of SBI Life/LIC/SBI Magnum8.15%4.65%12.80%1 year
Loan against FCNR (B) Deposit8.15%2.90%11.05%1 year

Loan Against Bank Time Deposits

Loan Against Bank Time DepositsInterest Rate
Loan against Bank's Time Deposits (Domestic)1.00% 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 Deposits1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.
Loan against NRE Fixed Deposits1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.

Auto Loans Interest Rates

Auto Loans Interest Rates w.e.f. 01.04.2018

SchemeInterest Rate w.e.f. 01.04.2018 (1 year MCLR: 8.15%)
i) SBI Car Loan, ii) NRI Car Loan, iii) Assured Car Loan Scheme, iv) SME Retail Car Loan Scheme (excluding Taxi, Transport Operators and fleet segments in SME)From 8.90% to 9.40%
Loyalty Car Loan SchemeSBI Car Loan, NRI Car Loan and Combo Loan SchemeFor Men: 1.15% above 1 year MCLR i.e. 9.30% p.a.

For Women: 1.10% above 1 year MCLR i.e. 9.25% p.a.
Certified Pre-owned Car Loan SchemeMen: 2.45% above 1 year MCLR i.e. 10.60% p.a.

For Women: 2.40% above 1 year MCLR i.e. 10.55% p.a.
Certified Pre-owned Car Loan Scheme4.65% above 1 year MCLR i.e. 12.80% p.a.
Super Bike Loan Scheme3.65% above 1 year MCLR i.e. 11.80% p.a.
SBI Two-Wheeler Loan9.25% above 1 year MCLR i.e. 17.40% p.a.
SBI Car Loan Lite
CIBIL ScoreRate of Interest
≥ 7503% above 2 Yr MCLR i.e. 11.25% p.a.
650 to 7494% above 2 Yr MCLR i.e. 12.25% p.a.

Finer pricing for New Car Loans based on CIC scores

Type of customersCIC scoresInterest Rate w.e.f. 01.03.2018 (1 year MCLR: 8.15%)
Corporate Salary Package customers *Not applicable0.75% above 1 year MCLR i.e., 8.90% p.a.
Other than Corporate Salary Package customers **CICs score of 750 and above #0.75% above 1 year MCLR i.e., 8.90% p.a.
CICs score of 700 and upto 749 #0.95% above 1 year MCLR i.e., 9.10% p.a.
CICs score of less than 700#1.25% above 1 year MCLR i.e., 9.40% p.a.

# For loan amount of Rs. 5.00 lacs and above, the lower CIC score will be considered from either of the two CICs to get the interest rate benefit as stated above.

* Corporate Salary Package customers would include all types of customers maintaining salary account with SBI with product specification as 'Salary Package Accounts' in CBS. This would include employees of State/Central Government, PSUs, Corporations and Listed Pvt. Sector companies maintaining Corporate Salary Package account with us. This would also include Railway Salary Package, Police Salary Package, all Defense Salary Packages and PMSP Pensioners.

** Other than Corporate Salary Package customers would include Businessmen, Professionals/Self Employed, Agriculturist, Pensioners and other salary accounts.

SBI Lending Rates as on 01.04.2017 for AY 2018-19

Interest Rate on Home Loan (MCLR: 8%)
CategoryRate of Interest
Women (Up to Rs.75 Lacs) (HER Ghar)1 year MCLR + 0.60%, effective rate 8.60% p.a.
Women (Above Rs.75 Lacs) (HER Ghar)1 year MCLR + 0.65%, effective rate 8.65% p.a.
Others (Up to Rs.75 Lacs)1 year MCLR + 0.65%, effective rate 8.65% p.a.
Others (Above Rs.75 Lacs)1 year MCLR + 0.70%, effective rate 8.70% p.a.
SBI Student Loan Scheme
SBI Student Loan* (Floating Interest Rate linked to 1 year MCLR with 1 year reset)
For loans upto Rs 4 lac2%above 1 year MCLR i.e., 11.20%
Above Rs 4 lac and upto Rs 7.50 lac2% above 1 year MCLR i.e., 11.20%
Above Rs 7.50 lac1.75% % above 1 year MCLR. i.e.,10.90%
Loan against NSCs/ KVPs/ RBI Relief Bonds/ Surrender value of SBI Life/ LIC/ SBI Magnum etc.
4.50%above 1 year MCLR with 1 year reset i.e., 13.70%(floating)

Scheme NameTenureInterest rate
For MenFor Women
SBI Car Loan SchemeFor All Tenure0.60% above 1 year MCLR i.e. 9.80% p.a.0.55% above 1 year MCLR i.e. 9.75% p.a.
SBI Combo Loan SchemeFor All Tenure0.60% above 1 year MCLR i.e. 9.80% p.a.0.55% above 1 year MCLR i.e. 9.75% p.a.
NRI Car LoanFor All Tenure0.60% above 1 year MCLR i.e. 9.80% p.a.0.55% above 1 year MCLR i.e. 9.75% p.a.
Certified Pre-owned car loanFor All Tenure4.00% above 1 year MCLR i.e. 13.20% p.a.
SBI Loyalty Car Loan SchemeCar Loan, Combo Loan, NRI Car Loan0.50% above 1 year MCLR i.e. 9.70% p.a.0.45% above 1 year MCLR i.e. 9.65% p.a
Certified Pre-owned Car Loan Scheme , Used Car Loan Scheme1.80% above 1 year MCLR i.e. 11.00% p.a.1.75% above 1 year MCLR i.e. 10.95% p.a.
Super Bike Loan SchemeFor All Tenure3.00% above 1 year MCLR i.e. 12.20% p.a.

Xpress CreditFull Check-off (Category I)3.30% - 3.80% above 2 year MCLR. i.e., 12.60% - 13.10% p.a. currently
Partial Check-off (Category II)4.30% - 4.80% above 2 year MCLR i.e., 13.60% - 14.10% p.a. currently
No Check-off (Category III)5.30% - 5.80% above 2 year MCLR. i.e., 14.60% - 15.10% p.a. currently

SBI Lending Rates as on 01.04.2016 for AY 2017-18

1 year MCLR RATE: 9.20 %
2 year MCLR RATE: 9.30%
MCLR RATE : 09.20 %
Borrowers' categoryHome Loan interest rate, irrespective of loan limit
Women20 bps above the one year MCLR of 9.20 % i.e 9.40% p.a.
Others25 bps above the one year MCLR of 9.20% i.e.9.45% p.a.
SBI Student Loan Scheme
SBI Student Loan* (Floating Interest Rate linked to 1 year MCLR with 1 year reset)
For loans upto Rs 4 lac2% above 1 year MCLR i.e., 11.20%
Above Rs 4 lac and upto Rs 7.50 lac2% above 1 year MCLR i.e., 11.20%
Above Rs 7.50 lac1.75% % above 1 year MCLR i.e.,10.90%
* for Girl Student 0.50% concession interest rate
Loan against pledge of Gold Ornaments
2% above 1 year MCLR with 1 year reset, currently11.20% p.a. (floating)
Loan against NSCs/ KVPs/ RBI Relief Bonds/ Surrender value of SBI Life/ LIC/ SBI Magnum etc.
4.50% above 1 year MCLR with 1 year reset i.e., 13.70%(floating)

Scheme NameTenureInterest rate for MenInterest rate for Women
SBI Car Loan Scheme
For All Tenure0.60% above 1 year MCLR i.e. 9.80% p.a.0.55% above 1 year MCLR i.e. 9.75% p.a
SBI Combo Loan SchemeFor All Tenure0.60% above 1 year MCLR i.e. 9.80% p.a.0.55% above 1 year MCLR i.e. 9.75% p.a.
NRI Car LoanFor All Tenure0.60% above 1 year MCLR i.e. 9.80% p.a.0.55% above 1 year MCLR i.e. 9.75% p.a.
Certified Pre-owned car loanFor All Tenure4.00% above 1 year MCLR i.e. 13.20% p.a.
SBI Loyalty Car Loan SchemeCar Loan, Combo Loan, NRI Car Loan0.50% above 1 year MCLR i.e. 9.70% p.a0.45% above 1 year MCLR i.e. 9.65% p.a.
Certified Pre-owned Car Loan Scheme , Used Car Loan Scheme1.80% above 1 year MCLR i.e. 11.00% p.a.1.75% above 1 year MCLR i.e. 10.95% p.a.
Super Bike Loan SchemeFor All Tenure3.00% above 1 year MCLR i.e. 12.20% p.a.

Scheme NameCheck OffRate of Interest*
Xpress CreditFull Check-off (Category I)3.30% - 3.80% above 2 year MCLR. i.e., 12.60% - 13.10% p.a. currently
Partial Check-off (Category II)4.30% - 4.80% above 2 year MCLR i.e., 13.60% - 14.10% p.a. currently
No Check-off (Category III)5.30% - 5.80% above 2 year MCLR. i.e., 14.60% - 15.10% p.a. currently

SBI Lending Rates as on 01.04.2014 and 01.04.1015
for AY 2015-16 and 2016-17

Loan TypeInterest Rate As on 01.04.2014Interest Rate As on 01.04.2015
(For Assessment Year 2015-16)(For Assessment Year 2016-17)
Housing LoanUpto ₹ 75 lacs10.15%#Women - 10 bps above the BR i.e 10.10% p.a.

Others - 15 bps above the Base Rate i.e. 10.15% p.a.

Above ₹ 75 lacs10.30%
Car Loans for New Car10.95%0.45% above base rate, i.e. 10.45% p.a., for all tenure ( for Men)

0.40% above base rate, i.e. 10.40% p.a., for all tenure ( for Women)

Used Car LoanUp to 3 years - 7.25% above Base Rate i.e. 17.25% p.a.

Above 3 yrs up to 7 yrs - 7.50% above Base Rate i.e. 17.50% p.a.

Two Wheeler Loan18.25%8.25% above Base Rate i.e. 18.25% p.a
Educational LoanUpto ₹ 4 lacs13.5% @Upto ₹ 4 lacs3.50% above Base Rate i.e., 13.50%
₹ 4 lacs to
₹ 7.5 lacs
13.75% @₹ 4 lacs to
₹ 7.5 lacs
3.75% above Base Rate i.e., 13.75%
Above 7.5 lacs11.75% @Above 7.5 lacs11.75% @
Personal Loan18.5%
Loan against Gold Ornaments2.50% above Base Rate Floating, currently 12.50% p.a.
Xpress CreditFull Check-off - 300 bps - 350 bps above Base Rate i.e., 13.00 % p.a. - 13.50% p.a.

Partial Check-off - 400 bps - 450 bps above Base Rate i.e., 14.00 % p.a. - 14.50% p.a.

No check off - 500 bps - 550 bps above Base Rate i.e., 15.00 % p.a. - 15.50% p.a.

@ 0.5% concession for girl student
# An interest rate concession of of 0.05% to women borrowers.

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Updated : 11 Feb. 2019