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October 10th, 2016, 05:20 PM
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SBI Xpress Credit Personal Loan Form
I want to apply for Xpress Credit Personal Loan in State Bank of India so can you please provide me the details of loan? State Bank of India provide Xpress Credit Personal Loan whenever you desire or need, be it a sudden vacation that you plan with your family or urgent funds required for medical treatment Xpress Credit Personal Loan Form Purpose- They provide personal loans to the employees of undernoted entities maintaining salary account with the bank at zero margin, and very competitive interest rates with fast and easy processing: Central and state Government Quasi-Government Central PSUs Profit making State PSUs Educational Institutions of National Repute Selected Corporates Advantage- Low processing charges; No hidden costs /administrative charges. Low interest rates. Further, we charge interest on a daily reducing balance No security required, minimal documentation…something that you had always wanted. No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan. Loan Amount- (i) Term Loan: Min: Rs.24,000/- Maximum: 24 times NMI subject to maximum of Rs 15.00 lacs. (ii) Overdraft: Minimum: Rs.10.00 lacs, Maximum: 24 times NMI subject to maximum of Rs 15.00 lacs. Income- Minimum NMI: Rs.7500/- EMI/NMI Ratio should not exceed 50 Repayment Period- Min 6 month Maximum 60 months or residual service period whichever is less Provision for 2nd Loan- Second Loan can be taken after 1 year of disbursement of the 1st loan provided the 1st loan has been satisfactorily conducted and is regular at the time of sanction of 2nd Loan. There cannot be more than 2 Xpress Credit Loans standing in the name of a borrower. However this is subject to the overall EMI/NMI ratio of 50% Processing Fees- 1% of the Loan Amount + applicable Service Tax Penal Interest Penal interest will not be charged for loans up to Rs.25, 000. For Loans above Rs.25000/-, if the irregularity exceeds EMI or installment amount, for a period of one month, then penal interest would be charged @2% p.a. (over and above the applicable interest rate) on the overdue amount for the period of default. Customer service: 1800 425 3800 Last edited by Neelurk; February 17th, 2020 at 08:59 AM. |
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