Interest Rate Perquisite Calculation 2020

State Bank of India: Interest Rates on 1^st APRIL, 2020
For the purpose of computing perquisite valuation

Interest rates as on 1^st APRIL, 2020 on various loans in Personal Segment advances are as under

External Bench Mark lending Rate (EBR):7.05%

(A)- HOME LOANS (TERM LOAN):

I. TERM LOANS UPTO RS 30 LACS: (EBR: 7.05%)

Revised Interest Rate
		Salaried Borrowers (%) :	Non-Salaried Borrowers (%) :
Women	LTV = 80	7.15% (10 bps above EBR of 7.05%)	7.30% (25 bps above EBR of 7.05%)
Women	LTV > 80 and = 90	7.25% (20 bps above EBR of 7.05%)	7.40% (35 bps above EBR of 7.05%)
Other	LTV = 80	7.20% (15 bps above EBR of 7.05%)	7.35% (30 bps above EBR of 7.05%
Other	LTV > 80 and = 90	7.30% (25 bps above EBR of 7.05%)	7.45% (40 bps above EBR of 7.05%

II. TERM LOANS ABOVE RS 30 LACS AND UPTO RS 75 LACS: (EBR: 7.05%)

Revised Interest Rate
	Salaried Borrowers (%) :	Non-Salaried Borrowers (%) :
Women	7.40% (35 bps above EBR of 7.05%)	7.55% (50 bps above EBR of 7.05%
Other	7.45% (40 bps above EBR of 7.05%)	7.60% (55 bps above EBR of 7.05%)

III. TERM LOANS ABOVE RS 75.00 LACS – FLOATING RATE: (EBD: 7.05%)

Revised Interest Rate
	Salaried Borrowers (%) :	Non-Salaried Borrowers (%) :
Women	7.50% (45 bps above EBR of 7.05%)	7.65% (60 bps above EBR of 7.05%)
Other	7.55 (50 bps above EBR of 7.05%)	7.70% (65 bps above EBR of 7.05%)

Product	Interest rate
CRE Home Loan	A premium of 50 bps over and above the interest rate applicable to Home Loan will be charges

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
Concession	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
List AA	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
Concession	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

Interest rates as on 1st APRIL, 2020 on various loans in Personal Segment advances are as under