Interest Rate Perquisite Calculation

Interest rates perquisite calculation 2019

State Bank of India: Interest Rates on 1st APRIL, 2019
For the purpose of computing perquisite valuation
Interest rates as on 1st APRIL, 2019 on various loans in Personal Segment advances are as under:

1 year MCLR RATE: 8.55%
2 year MCLR RATE: 8.65%

(A)- HOME LOANS (TERM LOAN):

I. TERM LOANS UPTO RS 30 LACS(1-yr MCLR: 8.55%)
Revised Interest Rate
  Salaried Borrowers (%) : Non-Salaried Borrowers (%) :
Women LTV = 80 1 Year MCLR+ 15 bps, ER:8.70 1 Year MCLR+ 30 bps, ER:8.85
LTV > 80
and = 90		 1 Year MCLR+ 25 bps, ER:8.80 1 Year MCLR+ 40 bps, ER:8.95
Other LTV = 80 1 Year MCLR+ 20 bps, ER:8.75 1 Year MCLR+ 35 bps, ER:8.90
LTV > 80
and = 90		 1 Year MCLR+ 30 bps, ER:8.85 1 Year MCLR+ 45 bps, ER:9.00
II. TERM LOANS ABOVE RS 30 LACS AND UPTO RS 75 LACS: (1-yr MCLR: 8.55%)
Revised Interest Rate
  Salaried Borrowers (%) : Non-Salaried Borrowers (%) :
Women RG-1, 2 ,3 1 Year MCLR+ 35 bps, ER:8.90 1 Year MCLR+ 50 bps, ER:9.05
RG-4, 5, 6 1 Year MCLR+ 45 bps, ER:9.00 1 Year MCLR+ 60 bps, ER:9.15
Other RG-1, 2, 3 1 Year MCLR+ 40 bps, ER:8.95 1 Year MCLR+ 55 bps, ER:9.10
RG-4, 5, 6 1 Year MCLR+ 50 bps, ER:9.05 1 Year MCLR+ 65 bps, ER:9.20
III. TERM LOANS ABOVE RS 75.00 LACS – FLOATING RATE: (1-yr MCLR: 8.55%)
Revised Interest Rate
  Salaried Borrowers (%) : Non-Salaried Borrowers (%) :
Women RG-1, 2 ,3 1 Year MCLR+ 45 bps, ER:9.00 1 Year MCLR+ 60 bps, ER:9.15
RG-4, 5, 6 1 Year MCLR+ 55 bps, ER:9.10 1 Year MCLR+ 70 bps, ER:9.25
Other RG-1, 2, 3 1 Year MCLR+ 50 bps, ER:9.05 1 Year MCLR+ 65 bps, ER:9.20
RG-4, 5, 6 1 Year MCLR+ 60 bps, ER:9.15 1 Year MCLR+ 80 bps, ER:9.35
Product Interest rate
CRE Home Loan A premium of 50 bps over and above the interest rate applicable to Home Loan will be charged.

PERSONAL LOAN SCHEMES – RATE OF INTEREST (As on 01.04.2018)

I. XPRESS CREDIT SCHEME

A. For Defence/ Para-Military/ Indian Coast Guard Salary Package Applicants

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 3.40% – 3.90% 12.05% – 12.55%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 3.90% – 4.40% 12.55% – 13.05%

B. For Other Applicants

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 3.40% – 5.40% 12.05% – 15.05%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 3.90% – 5.90% 12.55% – 15.55%

Note for loans under Xpress Credit scheme:

Following category of borrowers will get special concessions:

Criteria Concession Offered
Where ‘Check-Off’ is provided. 50 bps in Rate of Interest
Loan amount = Rs 10,00,000. 50 bps in Rate of Interest
II. XPRESS POWER SCHEME

iii) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 3.50% – 5.15% 12.15% – 13.80%

iv) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 4.00% – 5.65% 12.65% – 14.30%

Note for loans under Xpress Power scheme:

Following category of borrowers will get special concessions:

Criteria Concession Offered
Where ‘Check-Off’ is provided. 50 bps in Rate of Interest
Loan amount = Rs 10,00,000 50 bps in Rate of Interest
III. XPRESS CREDIT – IT EMPLOYEES SCHEME
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 4.80% – 6.80% 13.45% – 15.45%
IV. XPRESS ELITE SCHEME

i. SBI Salary Package A/c Holders:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 2.40% – 3.90% 11.05% – 12.55%

ii. Other than Salary Package A/c Holders (including Applicants not maintaining Salary A/c with our Bank):

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 2.65% – 4.15% 11.30% – 12.80%
V. XPRESS CREDIT- NON-PERMANENT EMPLOYEES (NPES)

i. Central and State Government, Quasi-Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National Repute:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 2.30% – 3.40% 12.95% – 15.05%

ii. Co-operatives/ Institutions not covered under regular Xpress Credit loan scheme and Unrated Corporates:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
8.65% 5.05% – 6.65% 13.70% – 15.30%
VI. OTHER UNSECURED PERSONAL LOANS
Other Unsecured Personal Loans – (1/2)
Revised
Scheme 2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
Pension Loan 8.65% 3.35% 12.00%
Clean Overdraft 8.65% 8.65% 17.10%
Xpress Credit Insta Top-Up 8.65% 3.50 % 12.15%
Other Unsecured Personal Loans – (2/2)
Revised
Scheme 1 year MCLR Spread over 1 year MCLR Effective Interest Rate with No Reset
Pre-Approved Personal Loans (PAPL) 8.55% 5.60% 14.15%

EDUCATION LOAN SCHEMES – RATE OF INTEREST (w.e.f. 10.12.2018)

SBI STUDENT LOAN SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Upto Rs 7.5 Lacs

 8.55% 2.00% 10.55% 1 year

Concession

 0.50% concession in interest for girl students

Above Rs 7.5 Lacs

 8.55% 2.25% 10.80% 1 year

Concession

 0.50% concession in interest for girl students
0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of our Bank
SBI SCHOLAR LOAN SCHEME
Category 1 year MCLR Spread Effective Interest Rate Reset Period

List AA

ROI

 8.55% 0.20% 8.75% 1 year

Concession

 No Further Concession

List A

All IIMs & IITs

 8.55% 0.35% 8.90% 1 year

Other institutes

 8.55% 0.50% 9.05% 1 year

Concession

 No Further Concession

List B

All NITs

 8.55% 0.50% 9.05% 1 year

Other institutes

 8.55% 1.00% 9.55% 1 year

Concession

 No Further Concession

List C

All NITs

 8.55% 0.50% 9.05% 1 year

Other institutes

 8.55% 1.50% 10.05% 1 year

Concession

 No Further Concession
SBI SKILL LOAN SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Upto Rs 1.5 Lacs

 8.55% 1.50% 10.05% 1 year

Concession

 No Further Concession
SBI GLOBAL ED-VANTAGE SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Above Rs. 20 lacs & Upto Rs 1.5 Cr

 8.55% 2.20% 10.85% 1 year

Concession

 0.50% concession in interest for girl students
0.50% concession for students availing of SBI Rinn Raksha or any other existing policy assigned in favour of our Bank
SBI TAKEOVER OF EDUCATION LOANS SCHEME
Loan Limit 1 year MCLR Spread Effective Interest Rate Reset Period

Above Rs 10 lacs & Upto Rs 1.5 Cr

 8.55% 1.50% 10.05% 1 year

Concession

 0.50% concession in interest for girl students

Auto Loans Interest Rates w.e.f. 10.12.2018 (Fixed Rate)

Scheme Interest Rate w.e.f. 10.12.2018 (1 year MCLR: 8.55%)

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 9.30% to 9.80%

Loyalty Car Loan Scheme

SBI Car Loan, NRI Car Loan

For Men: 1.15% above 1 year MCLR i.e. 9.70% p.a.

For Women: 1.10% above 1 year MCLR i.e. 9.65% p.a.

(CIC Based rates are applicable)

Certified Pre-owned Car Loan Scheme

Men: 2.25% above 1 year MCLR i.e. 10.80% p.a.

For Women: 2.20% above 1 year MCLR i.e. 10.75% p.a.

Certified Pre-owned Car Loan Scheme

From 11.05% to 12.05% (CIC Based rates are applicable).

Super Bike Loan Scheme

3.25% above 1 year MCLR i.e. 11.80% p.a

SBI Two-Wheeler Loan

9.05% above 1 year MCLR i.e. 17.60% p.a.

SBI Car Loan Lite
CIBIL Score Rate of Interest

>=750

2.80% above 2 Yr MCLR i.e. 11.45%p.a.

From 650 to 749

3.80% above 2 Yr MCLR i.e. 12.45%p.a.

Finer pricing for New Car Loans based on CIC scores w.e.f. 10.12.2018

Type of customers CIC scores Interest Rate w.e.f. 10.12.2018 (1 year MCLR: 8.55%)

Corporate Salary Package customers *

Not applicable

0.75% above 1 year MCLR i.e., 8.30% p.a.

Other than Corporate Salary Package customers **

CICs score of 750 and above #

0.75% above 1 year MCLR i.e., 8.30% p.a.

CICs score of 700 and upto 749 #

0.95% above 1 year MCLR i.e., 9.50% p.a.

CICs score of less than 700#

For Men: 1.25% above 1 year MCLR i.e., 9.80% p.a.

For Women: 1.20% above 1 year MCLR i.e. 9.75% 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 us 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.

Source: https://sbi.co.in/web/business/information/interest-rates-perquisite-calculation