About SBI Xpress Credit Personal Loan
Want to enjoy a family vacation in Australia, falling short of cash? Need credit instantly to pay the medical bills? Planning to renovate your home, don’t have enough savings? If the answers to all these questions is Yes, all you need is SBI’s Xpress Credit Personal Loan. That’s Right! This credit facility can easily be availed instantly to meet your multiple needs. Let’s just know more about this credit facility in the page below…
Personal Loan
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By accepting our "Terms and Conditions" you authorize WIshfin and its associated Partner Banks to run a CIBIL/Experian check for your profile
To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
Interest Rates in Detail
Xpress Credit for Defence/Para-Military/Indian Coast Guard Salary Pacakage Applicants
Term Loan Facility
Overdraft Facility
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Xpress Credit for Other Applicants
Term Loan Facility
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Overdraft Facility
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Note for loans under Xpress credit scheme: Following category of borrowers will get special concessions:
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Xpress Credit-IT Employees Scheme
Eligibility Criteria
The bank provides personal loan to:
- Central and state Government
- Quasi-Government
- Central PSUs
- Profit making State PSUs
- Educational Institutions of National Repute
- Selected Corporates who have business relationship with the Bank
- Corporates who do not have business relationship with the Bank as well as do not have ECR, subject to certain terms and conditions
Income
Minimum Net Monthly Income(NMI): ₹15,000
EMI/NMI Ratio should not exceed 50%
Provision for Second Loan
Second Loan can be taken anytime after the disbursement of the first loan. However this is subject to the overall EMI/NMI ratio of 50%. Also, the thing which an individual must remember that second loan is only eligible on your EMI payment of the first loan.
- Margin: Nil
- Security: Nil
- Third Party Guarantee: Nil
Penal Interest
Penal Interest @2% p.a. would be charged over and above the applicable interest rate on the overdue amount for the period of default. If part installment or part EMI remains overdue then penal interest should not be levied.
Documents Required
The list of documents that a person must carry while applying for SBI Personal loan are as follows:
- Duly signed application form
- Identity Proof- PAN Card/Voter ID Card/Passport/Driving License, etc.
- Address Proof
- Processing fee cheque
- Last 3 months bank statement or 6 months bank passbook
- Latest salary slip & Current dated salary certificate with the Latest Form 16 for salaried individuals
- Latest Bank statement or Latest ITR of Form 16 for self-employed individuals
SBI Xpress Credit Personal Loan Application Form
In order to apply for this unsecured credit facility being offered by SBI, you simply need an application form first. Yes, it is mandatory to fill and submit the duly signed form as far as applying for a personal loan is concerned. You can either download this form online from SBI’s official website or you can visit the bank branch near you to get this form. The form asks you to fill all your personal as well as professional details such as Name, Age, Gender, Address, Income, Job Stability, Work Profile, etc. Make sure, you fill the correct information in the required fields for a smooth loan journey.
Features & Benefits
- Attractive Interest Rates
- Low Processing Charges
- No Hidden Costs/Administrative Charges
- Minimal Documentation
- No Collateral