SBI latest savings bank, Fixed Deposit, Recurring deposit and housing loan interest rate

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Interest Rates on Savings Bank Deposits

Applicable Interest Rates on Savings Bank Deposits w.e.f 31st May, 2020

Savings Bank deposit slabs Existing Rate of Interest Revised Rate of Interest w.e.f. 31.05.2020
SB Deposit accounts with balances upto Rs. 1 lakh 2.75% p.a 2.70% p.a.
SB Deposit accounts with balances above Rs. 1 lakh i) 2.75% p.a. for balance upto Rs. 1 lakh
ii) 2.75% p.a. for balance above Rs. 1 lakh.		 i) 2.70% p.a. for balance upto Rs. 1 lakh
ii) 2.70% p.a. for balance above Rs. 1 lakh
Home Loans Interest Rates (Current)

HOME LOANS: FLOATING INTEREST CARD RATES W.E.F.01.07.2020

(A)- HOME LOAN INTEREST CARD RATE STRUCTURE (FLOATING) :EBR 6.65%
LOAN AMOUNT SALARIED
  TERM LOAN MAXGAIN
Up to Rs 30 Lacs
EBR + 35 bps
ER: 7.00%
(ER: Effective Rate)
EBR + 70 bps
ER: 7.35%
Above Rs 30 Lacs to Rs 75 Lacs
EBR + 60 bps
ER: 7.25%
EBR + 95 bps
ER: 7.60%
Above Rs 75 Lacs
EBR + 70 bps
ER: 7.35%
EBR + 105bps
ER: 7.70%
  • A premium of 15 bps will be added to the Card Rate for Non-Salaried Customers.
  • A premium of 10 bps will be added to the Card Rate for Loan up to Rs 30 Lacs if LTV ratio is >80% & <=90%.
  • A premium of 10 bps will be added to the Card Rate for customers falls under RG (4 to 6)
  • 05 bps concession will be available to women.
  • Premium of Non Salaried Customers,Risk Grade 04 to 06, Loan up to Rs 30 Lacs if LTV ratio is >80% & <=90% and concession for women customers will be clubbed with Card Rate/ other premium for arriving at Final Rate for the customer.
EBR 6.65%
Product Applicable Interest Rate
Tribal Plus Scheme An additional 10 bps will be added to the Final Rate
Home loan to Employees of Kerala Government scheme EBR+35 bps,ER:7.00%
CRE Home Loan An additional 50 bps premium will be added to the Final Rate
SBI Privilege and Shaurya SchemesEBR 6.65%
SBI Privilege and Shaurya Schemes (a) Where check-off facility is provided by the Government Department / Defense Establishment under tie-up with our Bank –
Interest rate applicable to women will be applicable to men/others.
(b) Where check-off facility is not available–
Interest rates as applicable to others category will be applicable after taking into consideration the LTV Ratio, Risk Grade, gender and limit.
SBI REALTY LOANS
For First Five YearsEBR 6.65%
LOAN AMOUNT Applicable Interest Rate
Up to Rs 30 Lacs EBR + 105 bps
ER: 7.70%
Above Rs 30 Lacs to Rs 75 Lacs EBR + 115 bps
ER: 7.80%
Above Rs 75 Lac EBR + 125 bps
ER: 7.90%
  • A premium of 10 bps will be added to the Card Rate for customers falls under Risk Grade 04 to 06.
  • 05 bps concession will be available to women
  • A premium of 05 bps will be added for the customers who is not having salary account with SBI
(B)- HOME TOP UP CARD INTEREST RATE STRUCTURE (FLOATING) :EBR 6.65%
Applicable Interest rate
Term Loan Overdraft
Up to Rs. 20lacs
EBR + 85 bps
ER: 7.50%

 
N. A.
Above Rs.20 lacs and up to Rs.1 crore
EBR + 105 bps
ER: 7.70%
EBR + 175 bps
ER: 8.40%
Above Rs.1 crore and up to Rs.2crores
EBR + 125 bps
ER: 7.90 %
EBR + 200 bps
ER: 8.65 %
Above Rs.2 Crores and up to Rs.5 Crores
EBR + 170 bps
ER: 8.35%
Above Rs.5 crores
EBR + 290 bps
ER: 9.55%
  • A premium of 15 bps will be added to Card Rate for Non-Salaried Customers.
  • A premium of 10 bps will be added to the Card Rate for customers falls under Risk Grade 04 to 06.
  • Premium of Risk Grade 04 to 06 will be clubbed with other premium for arriving at final Rate for the customers.
EBR 6.65%
INSTA HOME TOP UP LOAN (Rs 01 Lacs to Rs 05 Lacs) 155 bps above EBR, irrespective of Risk Grades, Gender and occupation.ER:8.20
EBR 6.65%
SMART HOME TOP UP LOAN Applicable Interest Rate
  SALARIED NON-SALARIED
TERM LOAN
EBR + 140bps
ER: 8.05%
EBR + 190 bps
ER: 8.55%
OVERDRAFT
EBR + 190 bps
ER: 8.55%
EBR + 240 bps
ER: 9.05%
(C)- PERSONAL LOAN AGAINST PROPERTY (P-LAP) :EBR 6.65%
Applicable Interest rate
Personal Loan Against Property (P-LAP)
i) Salaried (where more than 50% of NMI is coming from salary income) and Non-Salaried (where more than 50% of NMI is coming from Business/ Profession or rental income income), If the residential property is self-Occupied		  

Up to Rs. 1crs

 

  

EBR + 215 bps
ER: 8.80%

 
Above Rs. 1 cr & up to Rs. 2 crs.
EBR + 265 bps
ER: 9.30%
Personal Loan Against Property (P-LAP)
ii) Salaried (where more than 50% of NMI is coming from salary income), If the residential property is not self-Occupied/ commercial property		  

Up to Rs. 1crs

 

  

EBR + 225 bps
ER: 8.90%

 
Above Rs. 1 cr & up to Rs. 2 crs.
EBR + 275 bps
ER: 9.40%
Personal Loan Against Property (P-LAP)
iii) Non-Salaried (where more than 50% of NMI is coming from Business/ Profession or rental income income), If the residential property is not self-Occupied/ commercial property		  

Up to Rs. 2 crs

 

  

EBR + 280 bps
ER: 9.45%

 
Personal Loan Against Property (P-LAP)
iv) Salaried and Non-Salaried (where more than 50% of NMI is coming from Business/ Profession or rental income income), If the residential property is not self-Occupied/ commercial property		  

Above Rs 2 crs and Up to Rs 7.5 crs

 

  

EBR + 300 bps
ER: 9.65%

 
(D)- SBI BRIDGE LOAN :EBR 6.65%
Applicable Interest rate
FOR FIRST YEAR
EBR + 285 bps
ER: 9.50%
FOR SECOND YEAR
EBR + 385 bps
ER: 10.50%
(E)- EMD SCHEME :EBR 6.65%
Applicable Interest rate
EMD SCHEME
EBR + 380 bps
ER: 10.45%
(F)- REVERSE MORTGAGE LOANEBREBR 6.65%
Applicable Interest rate
For Public
EBR + 240 bps
ER: 9.05%
For SBI Pensioners
EBR + 140 bps
ER: 8.05%
Auto Loans

Auto Loans Interest Rates w.e.f. 10.06.2020 (Fixed Rate)

Scheme Interest Rate w.e.f. 10.06.2020 (1 year MCLR: 7.00%)
i) SBI Car Loan, ii) NRI Car Loan, iii) Assured Car Loan Scheme  

 

From 7.75% to  8.45%
 

 

Loyalty Car Loan Scheme

 SBI Car Loan, NRI Car Loan From 7.70% to 8.40 % (CIC Based rates are applicable)
Certified Pre-owned Car Loan Scheme Men: 2.25% above 1 year MCLR i.e. 9.25% p.a.

For Women: 2.20% above 1 year MCLR i.e. 9.20% p.a.
Certified Pre-owned Car Loan Scheme From 9.50% to 10.50% (CIC Based rates are applicable).
Super Bike Loan Scheme 3.25% above 1 year MCLR i.e. 10.25% p.a
SBI Two-Wheeler Loan 9.05% above 1 year MCLR i.e. 16.05% p.a.
SBI Car Loan Lite
CIBIL Score Rate of Interest
>=750 3.00% above 2 Yr MCLR i.e. 10.20% p.a.
From 650 to 749 4.00% above 2 Yr MCLR i.e. 11.20% p.a.

 

Finer pricing for New Car Loans based on CIC scores w.e.f. 10.06.2020

CIC SCORE TERM OF THE LOAN
– 3-5 years Above 5 years –
750 & ABOVE 0.75% + 1 YEAR MCLR 0.85% + 1 YEAR MCLR
700-749 1.00% + 1 YEAR MCLR 1.10% + 1 YEAR MCLR –
650-699 1.25% + 1 YEAR MCLR 1.35% + 1 YEAR MCLR –
600-649 1.35% + 1 YEAR MCLR 1.45% + 1 YEAR MCLR For Women concession of 5 basis points in this category of 600-649 CIC Score
-1 7.75% to 8.10%
  • # 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.
  • Mean Rate for Auto Loans : 9.52%
Education Loan Scheme

EDUCATION LOAN SCHEMES – RATE OF INTEREST (w.e.f. 10.06.2020)

The interest rates will remain same for entire period of loan

mean rate of interest 9.75%.

SBI STUDENT LOAN SCHEME
Loan Limit 3 Year MCLR Spread Effective Interest Rate Rate Type
Upto Rs 7.5 Lacs 7.30% 2.00% 9.30% Fixed
Concession 0.50% concession in interest for girl students
Above Rs 7.5 Lacs 7.30% 2.00% 9.30% Fixed
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
List 1 month MCLR Spread Effective Interest Rate Rate Type
AA ROI 6.70% 0.20% 6.90%
(with co-borrower)		 Fixed
ROI 6.70% 0.30% 7.00%
(with co-borrower)		 Fixed
A All IIMs & IITs 6.70% 0.35% 7.05% Fixed
Other institutes 6.70% 0.50% 7.20% Fixed
B All NITs 6.70% 0.50% 7.20% Fixed
Other institutes 6.70% 1.00% 7.70% Fixed
C All NITs 6.70% 0.50% 7.20% Fixed
Other institutes 6.70% 1.50% 8.20% Fixed
PART-TIME COURSES
(Available only at mapped branches for 15 selected Institutions )
Loan Limit 3 year MCLR Spread Effective Interest Rate Rate Type
Upto Rs 7.5 Lacs 7.30% 2.00% 9.30% Fixed
Concession 0.50% concession in interest for girl students
SBI SKILL LOAN SCHEME
Loan Limit 3 year MCLR Spread Effective Interest Rate Rate Type
Upto Rs 1.5 Lacs 7.30% 1.50% 8.80% Fixed
Concession No Further Concession
SBI GLOBAL ED-VANTAGE SCHEME
Loan Limit 3 year MCLR Spread Effective Interest Rate Rate Type
Above Rs. 20 lacs & Upto Rs 1.5 Cr 7.30% 2.00% 9.30% Fixed
Concession 0.50% concession for students availing of SBI Rinn Raksha or any other existing life policy assigned in favour of our Bank
Further Concession 0.50% concession for girl students
SBI TAKEOVER OF COLLATERALISED EDUCATION LOANS SCHEME
Loan Limit 3 year MCLR Spread Effective Interest Rate Rate Type
Above Rs 10 lacs & Upto Rs 1.5 Cr 7.30% 2.00% 9.30% Fixed
Concession 0.50% concession for girl students
Personal Loans Schemes

PERSONAL LOAN SCHEMES – Rate of Interest (w.e.f. 10.06.2020)

I. XPRESS CREDIT(including PAXC-Pre-Approved Xpress Credit)

Mean ROI for Xpress Credit : JAN -MAR’20 – 12.63%

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
7.20% 3.40% – 3.90% 10.60% – 11.10%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 3.90% – 4.40% 11.10% – 11.60%

B. For Other Applicants:

i) ‘Term Loan’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 3.40% – 5.40% 10.60% – 12.60%

ii) ‘Overdraft’ facility:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 3.90% – 5.90% 11.10% – 13.10%

Note for loans under Xpress Credit scheme: Following category of borrowers will get special concessions:

Criteria Concession Offered
Loan amount >= Rs 10,00,000. 50 bps in Rate of Interest
Platinum Salary Package customers 50 bps in Rate of Interest
Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status 50 bps in Rate of Interes

-Subject to total maximum concession of 100 bps over the Card rate

II. XPRESS ELITE SCHEME

i. SBI Salary Package A/c Holders:

2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 2.40% – 3.90% 9.60% – 11.10%

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
7.20% 2.65% – 4.15% 9.85% – 11.35%

 

III. 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
7.20% 4.30% – 6.40% 11.50% – 13.60%

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
7.20% 5.05% – 6.65% 12.25% – 13.85%

IV. OTHER UNSECURED PERSONAL LOANS

Mean ROI for Pension Loan : JAN -MAR’20 – 11.38%

Other Unsecured Personal Loans
Scheme Revised
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
Pension Loan(including PAPNL-Pre Approved pension Loans) 7.20% 2.55%-3.05% 9.75%-10.25%
Clean Overdraft 7.20% 8.45% 15.65%
Xpress Credit Insta Top-Up 7.20% 3.50% 10.70%
Other Unsecured Personal Loan
Scheme 1 year MCLR Spread over 2 year MCLR Effective Interest Rate Reset
Pre-Approved Personal Loans (PAPL) 7.00% 5.60% 12.60%
Scheme 2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
SPL. PAPL 7.20% 2.40% 9.60%
SBI QUICK PERSONAL LOANS THROUGH CLP PORTAL
Scheme 2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
SBI Quick Personal loan
Through CLP portal		 7.20% 3.65 – 5.65% 10.85% – 12.85%

(0.25% higher than Xpress credit scheme. for all brackets)

Loan Against Securities And Consumer Durable Loans

Loans Against Securities & Loan Against Bank Time Deposit (TDR/STDR) / FCNR(B) Deposit – Rate Of Interest (w.e.f. 10.05.2020)

I. Loans Against Securities

Scheme 1 year MCLR Spread over 1 year MCLR Effective Interest Rate
Loan against Shares, Mutual Funds & Dual Advantage Fund 7.25% 2.50% 9.75%
Loan against SGB 7.25% 2.00% 9.25%
Loan against NSC/ KVP/ RBI Relief Bond/ Surrender Value of SBI Life/ LIC/ SBI Magnum 7.25% 4.65% 11.90%

II. LOAN AGAINST BANK TIME DEPOSIT (TDR/STDR) / FCNR (B) DEPOSIT

Loan against Bank’s Time Deposits (Domestic) 1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.
Loan against NRO Fixed Deposits 1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.
Loan against NRE Fixed Deposits 1.00% over the rate of interest paid on the relative Time Deposits offered as security irrespective of the loan amount.
Loan against FCNR (B) Deposit 2.90% over 1 year MCLR (presently 1 year MCLR is 7.90%).

III. GOLD LOAN

Secured Personal Loans (3/3)
Scheme 1 year MCLR Spread over 1 year MCLR Effective Interest Rate
Gold Loan(all variants) 7.25% 1.25% 8.50%
Realty Gold Loan – A Gold Loan Product exclusively for SBI Housing Loan Customers (all variants) 7.25% 0.50% 7.75%

IV. CONSUMER DURABLES & ECOMMERCE SCHEMES

Unsecured Personal Loans
Scheme 2 year MCLR Spread over 2 year MCLR Effective Interest Rate
DL for e-Commerce purchases (Online EMI) 7.45% 7.50% 14.95%
DL for e-Commerce purchases (POS EMI) 7.45% 7.50% 14.95%

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