MyLoanCare is a FREE of cost service for borrowers Apply Online

Get Cashback of Upto ₹ 1,000* on Personal Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

SBI Xpress Bandhan Personal Loan

SBI Xpress Bandhan Loan

Last Updated 18th Oct 2021

  • SBI offers Xpress Bandhan Loan to salaried employees who do not have an account with SBI.
  • Avail SBI Xpress Personal Loan with minimum documentation requirement.
Interest Rate9.85% - 11.35%
Processing Fees 1.00%
Prepayment ChargesNil Charges
Loan TenureUpto 60 Months
Loan Amount₹ 25,000 - ₹ 15,00,000
Apply for Personal Loan @ 10.25%* Get upto ₹ 1,000* Cashback

What is Xpress Bandhan Loan?

Xpress Bandhan Loan is an unsecured personal loan scheme for salaried employees who do not maintain a savings account with SBI. If you work with government or private establishments and have a minimum monthly income of ₹ 50,000, you can get a personal loan under this scheme. SBI offers the facility as both a term loan and overdraft for up to ₹ 15 Lakh.

What are the Features and Benefits of SBI Xpress Bandhan

  • You do not need to maintain a salary account with SBI
  • SBI offers Bandhan Loan as Term Loan & overdraft facility ranging from ₹ 25,000 to ₹ 15,00,000.
  • There are no hidden costs on loan.
  • The maximum repayment tenure is up to 60 months or remainder of service, whichever is lower.
  • You can repay the personal loan through NACH/SI.

What is the Eligibility Criteria for SBI Xpress Personal Loan?

  • To avail of the SBI Xpress Loan, you need to fulfil the following eligibility criteria:
  • Minimum Monthly Income ₹ 50,000.
  • EMI/NMI ratio less than 50%.
  • Employees working with Central/ State Governments/ Defence Establishments, Quasi-Government Bodies, PSUs, Educational Institutions of National Repute, Select Rated Corporates etc.
  • Term Loan- ₹ 25,000 - ₹ 15,00,000
  • Overdraft Facility- ₹ 5 Lakhs to Maximum: 24 times NMI subject to a maximum of ₹ 15 Lakhs

Documentation of SBI Xpress Bandhan Personal Loan

You need to furnish the following list of documents along with the personal loan application form:

  • Two passport size photographs
  • Proof of Identity & Address- Passport/Driving License/Aadhaar/Voter's Card/ Job Card issued by NREGA
  • Permanent Account Number (PAN)
  • Identity card issued by the employer
  • Last six months' salary slip or latest Form 16 (in case of Income Tax Payee)

SBI Xpress Bandhan Personal Loan Interest Rates & Charges

  • The Interest Rate for SBI Xpress Bandhan Personal Loan ranges from 9.85% to 11.35%.
  • The bank also charges various other fees on the personal loan, including the charges for processing the loan, prepayment & foreclosure charges.
  • The processing fee charged by SBI to employees who do not have an account with SBI is 1.00% of the loan amount.

How to Apply For a Personal Loan?

You can apply for an SBI personal loan by visiting the nearest bank branch or official website. In addition, to get the information about the best offers on how to apply for a personal loan in SBI, you can avail loan from MyLoanCare. Here is a step-by-step procedure to avail of a loan.

  • Step 1:Fill the Personal Loan Application form
  • Step 2 : Fill in necessary details like name, pin code, phone number, loan amount.
  • Step 3 :Click on 'Get Quote' and enter the OTP received on your mobile phone.
  • Step 4 : Click on 'Submit.
  • Step 5 : You will get the offers as per your eligibility.
  • Step 6 : MyLoanCare's executive will contact you within some time and help you with the further process.


What is the minimum loan amount under SBI Xpress Bandhan?

You can avail of a minimum of ₹ 25,000 & ₹ 5 Lakhs as term loan and overdraft facility, respectively.

What is the processing fees for SBI Xpress Bandhan Personal Loan?

Along with rates, SBI also charges a processing fee of upto 1.00% of the loan amount for SBI Xpress Bandhan personal loan.

What is the standard loan tenure for Xpress Bandhan Loan?

You can avail of Xpress Bandhan Loan for a maximum repayment tenure of 60 months.

How can I get an SBI Xpress Bandhan personal loan?

You can apply for an SBI Xpress Bandhan personal loan on the SBI website or visit the nearest branch. Alternatively, you can get a loan through an online marketplace like MyLoanCare.

What are the Prepayment charges on the Xpress Bandhan Loan?

SBI allows you to repay your loan before the end of the loan tenure. You can repay a personal loan with a minimum prepayment penalty of Nil Charges.

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Personal Loan News - Oct 2021
  • 2021-10-14 : Zavron Finserv Launches Instant Personal Loan Application
    Zavron Finserv- a non-banking financial institution- has introduced an instant personal loan application. This App will help customers to take loans instantly within few minutes that too from their mobile phone. A loan for a minimum of Rs 10,000 and a maximum of Rs 2 lakh is available.
  • 2021-10-13 : Early Salary Introduces Dussehra Offers
    Early Salary has announced the Dussehra offer on personal loans by 50% off on processing fees. The interest rate charged by the instant mobile application is Rs. 9 per day.
  • 2021-10-12 : Axis Bank Has Launched Open API For Customers
    Axis Bank unveils open APIs (Application Programming Interface), these APIs will help retail and corporate customers/ partners to use banking services integrated across partner platforms. This banking portal has retail as well as corporate products like loans, accounts, deposits, payments, trade, collections and bills.
  • 2021-10-11 : Punjab National Bank Introduces 6S Campaign
    Punjab National Bank (PNB) has launched the 6S Campaign. The campaign consists of schemes like Swabhiman, Samruddhi, Sampark and Shikhar, Sankalp and Swagat. The objective of the campaign is to spread awareness about the development of financial services and accelerate credit growth, improve penetration of social security schemes and drive digital banking push.
  • 2021-10-07 : Bank of Baroda Decreases Personal Loan Rates
    Bank of Baroda has decreased personal loan rates by 25 points to 9.75%. Earlier the personal loan started at 10.00%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Please wait while your information is being processed...