Avail SBI Personal Loan for Government Employees

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Avail SBI Personal Loan for Government Employees
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SBI Personal Loan for Government Employees

• For urgent financial needs, SBI provides special
  schemes to government employees through SBI
  Xpress Credit Personal Loan.
• The maximum amount one can avail through SBI
  Personal Loan for Govt. employees is ? 15 lakhs
  with a loan tenure of up to 4 years.
• Those who are a government pensioner can avail
  personal loan from SBI of up to ? 14 lakhs with a
  maximum loan tenure of 5 years.
• The later personal loan is slightly expensive as
  the rate of interest for the same starts at
  12.45.
• This loan can be used for various reasons like
  wedding, travelling, medical emergencies, etc.

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Overview
Minimum Term Loan Amount ? 25,000
Maximum Term Loan Amount ? 15 lakhs or 24X of monthly salary
Minimum Overdraft Loan Amount  ? 5 lakhs
Maximum Overdraft Loan Amount ? 15 lakhs or 24X of monthly salary
Minimum Income Required ? 5,000
Required EMI/NMI Less than 50
Duration Up to 5 years
Rate of Interest 11.90 onwards
Prepayment Charges 3 of the prepaid amount
Processing Charges 1 of the loan amount GST
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Benefits

• Cheapest Interest Rate.
• Additional offers on personal loan for State,
  Central employees and PSUs employees.
• Comparatively low processing fee.
• No processing fee for defence personnel. 
• Zero hidden cost.
• Option to avail second loan.

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Eligibility Criteria

• Employees working with central, state, PSUs are
  eligible for the personal loan by SBI. 
• Applicant must have a salary account with any
  branch of SBI.
• One shouldnt have EMI/NMI ratio of more than
  50. 
• Applicant should meet the age criteria which is
  21-58. 
• The minimum salary criteria is ? 5,000 that every
  applicant needs to meet. 
• One should have a minimum work experience of 6
  months in the current organisation.

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Documents Needed

• Application form with passport-sized photos.
• ID Proof PAN Card/Voter ID Card/Passport/Driving
  License.
• Address Proof Aadhaar/Passport/Voter ID
  Card/Driving License/Electricity or Telephone
  Bill (Not more than 3 months old).
• Processing fee cheque.
• Last 3 months salary slip.
• Last 6 months bank statement.
• Salary certificate with the latest Form 16.

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SBI Pension Loan

• SBI has designed a customised personal loan for
  government pensioners.
• It has several advantages over the other lenders
• Low processing fee
• Easy EMIs 
• Minimal Documentation
• Loan up to ? 14 lakhs for maximum of 5 years
• Quick approval
• Upper age limit 76

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Eligibility for SBI Pension Loan

• Applicants age must be below 76.
• One should be State, Central government pensioner
  or PSU pensioner.
• Applicant must be drawing his/her pension through
  one of the SBIs branch.
• Applicant along with treasury needs to give
  consent for not letting his/her pension credited
  in another bank account. 

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Thank You !!!