QuickSuccessSeries:PSegLoanProducts(UpdatedUptoOctober’2024)

QUICK SUCCESS SERIES, an initiative of SBILD,

Deoghar to facilitate the preparation of
promotion seeking personnel of our Bank,
appears to have succeeded in its objective to a
large extent, as the readers are still approaching
us for its revision/ updation despite availability
of plenty of other study materials.

QUICK We would not have been able to sustain this

unique effort of ours, without the active
SUCCESS support and continuous encouragement of
our CGM & Head (STU) and his team and
SERIES Circle CDO, We are deeply indebted to him for
his co-operation and guidance.

Sri Satish Kumar, Chief Manager (Training)

SriAkash Dwivedi, Chief Manager (Training)
SmtAparajita Lal ,Chief Manager (Training) and
Sri Abhishek Kumar, Chief Manager (Training) at
this SBILD have owned up this project and have
taken pains to keep it relevant to the users by
updating & improving it.

Though every care has been taken while

updating the contents, we request our readers
to point out any lapses at the earliest. Needless,
to mention that this book is not a substitute of
circular instructions issued by the Bank from
time to time. For detailed guidelines please refer
to Bank’s latest circulars. Soft copy of this
edition is available on SBI TIMES >PATNA CIRCLE
>L&D Department>SBILD Deoghar site.

Team SBILD, Deoghar is humbled by the

response and recognition; it is receiving from the
readers within and beyond the circle. We wish
the readers grand success in their endeavours.

Compiled and Updated by

Sri Akhilesh Kumar Jha
Aparajita Lal Director, SBILD, Deoghar
CM (Faculty) Mob - 8757975658
SBILD Deoghar
Mob 8544650081
Email id Aparajita.lal@sbi.co.in
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 QuickSuccessSeries:PSegLoanProducts(UpdatedUptoOctober’2024)

Sl Products Page Nos

No
1 Auto Loan General 3-6
Instruction
2 Car Loan variants 6-10
3 Two wheeler Loan 10-13
variants
4 P seg Gold Loan variants 13-18
5 Loan Against other 18-25
securities
6 P seg Asset Product 25-39

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 QuickSuccessSeries:PSegLoanProducts(UpdatedUptoOctober’2024)

AUTO LOAN *Dealer driven business is to be processed at HUB

Branches only. Non-Hub branches can book
Authorized Branches: All branches with business for their customers with no dealers pay out.
incumbency of Scale III & above, identified HUB Place of availing Loan:
Branches and Branches authorized by RMs (RBO) Permanent Place of residence/ Place of Posting.
are authorized to process, sanction and disburse For DSP/PMSP/IGSP Customers: Permanent Place of
car loans as per the delegation of power residence/Place of Posting/ Place where salary account
mentioned below: is maintained.
The maximum number of applicants should be Processing Time: The maximum time schedule for
restricted to two. receipt of application and sanction/disbursal of the loan
2. Post revamping of RCC & ZCC: Revised is 2 days.
Delegation of Power (in lacs) 2. Sourcing.
Sourcing of Application by SBICAPS Securities Ltd (SSL)
Relationship Executive for Auto Loan (REAL): The Bank has
appointed SBICAP Securities Ltd. (SSL) as our Corporate
Agent for marketing of our Auto Loans and related
products.
Auto Loan Hub Branch linked to RACC: Car Loan on YONO: Car Loan Sprint 2 the Bank’s existing
customers will be able to generate the in-principal
Incumbency MMGS MMGS SMGS approval for Car loan.
JMGS II III IV 3) Pre Sanction Survey
I The KYC, Pre-sanction survey & opinion report (Opinion
Delegation NIL 7.50 10 15 Report wherever applicable) prepared by the official under
(Spoke / his/ her signature & seal will be acceptable to sanctioning
Linked to authority.
RACC ii) Pre-sanction Survey format has been circulated vide e-
Branches) Circular No: NBG/PBU/AL-AUTOLOAN/2/2014-15 dated
Auto Loan Hub Branch linked to RACC: As per 09.05.2014
Branch Delegation or Rs. 25 Lakhs whichever is WaiverofPre-SanctionSurvey:
less. ForExistingcustomers:
➢ Proposals above Branch delegation and up to
Rs. 25 Lakhs will be put up to RACC for sanctioning. i) If the address of the customer has not changed
and he is a
The Officials of RACC will exercise following a) Home/Personal Loan customer with minimum one
delegation of power (in lacs) year’s satisfactory track record. Or
b) A car loan customer with one year’s satisfactory track
Incumbency MMGS MMGS III SMGS IV record, who wants to avail another car loan, Or
II c) Customer having satisfactory deposit account with
Delegation of 12.50 15.00 25.00 average balance of Rs. 50,000/- & above and banking with
power us for at least one year. Or
d) Under Corporate Tie-ups where check-off is available.
Proposals above RACC delegation (25 Lakhs) will be ii) VIP flagged salary accounts (in terms of e-Circular no
put up to RCC for sanctioning. NBG/PBU/PREM-VIPCOD/5/2018-19 Dt. 01.02.2019)
All single officer branches linked to RACC:
Proposals to be sanctioned at RACC/ RCC/ ZCC (as
per delegation applicable).
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 QuickSuccessSeries:PSegLoanProducts(UpdatedUptoOctober’2024)
Gold & above variant Salary package accounts with
minimum 6 months old salary account with our Verification of Registration of Vehicle: from the
Bank, and are KYC compliant in CBS with verifiable website‘vahan.nic.in’
PAN & Mobile Number.
The Vahan search is compulsory in all cases, even when RC
In case of (ii) & (iii) category of customers, whose
Book is submitted by the borrower.(Post 30 days of
Salary account is less than 6 months old with our
disbursement)
bank, Pre-sanction inspection is must. (E-Circular
It has been decided to recover the charges &GST also on
No. NBG/PBU/AL/-CARLOANS/8/2019-20 dated
the aforesaid charges, from the customer. Accordingly, the
18.06.2019
revised charges will be as under:-
4. Waiver of Pre Sanction Inspection (PSI) Pre-
Vehicle Search Charges -59/-
Sanction Survey for Defense Salary Package
(DSP)/Central Armed Police Force Salary Package
Penalty for Non-Registration /Non-Hypothecation of
(CAPSP) & Indian Coastal Guard Salary Package
Vehicle: If the borrower fails to get the vehicle
Customers (IGSP) is waived, subject to the
registered, with hypothecation charge in favour of the
following conditions:
Bank, within120daysfromthedateofdisbursementOr
1) The officer should have Salary Package account
Bank’s hypothecation charge is vacated before
with SBI with updated KYC.
liquidation of the loan, charge of Rs. 2500/- (+GST) per
ii) The Serving Certificate from the Commanding
month to be recovered from borrower till Bank’s
officer of the unit, certifying his rank, posting and
hypothecation charge is noted by RTO, after sending
residence of the Officer shall be obtained.
due notice to the borrower.
iii) Copy of the Aadhar Card of the Officer shall
be obtained.
RC DETAILS NOT UPDATED IN CBS- REVISED
iii) The copy of the Canteen Smart Card of the
INSTRUCTIONS
officer shall be obtained. v. For repayment, SI from
As per KRI no RC should be pending beyond 4 months of
his salary account will be set up. vi. The latest
sanction and the KRI will be treated in RED for any RC
salary slips for 1 month issued by CDA, Pune will be
pending for submission beyond 4 months.
obtained, and cross checked with the salary
After 18 months, if RC is still not submitted, the loan is to
account maintained with us.
be recalled and legal proceedings to be initiated against
the borrower (s) & guarantor, if any
5. Verification of margin money paid:
Post Sanction Inspection:
i) For cheque payment/Digital Payments: - To be
Post disbursement inspection of vehicle must be carried
verified from account statement.
out within 15 days from the date of disbursement and to
ii) For cash payment: - Stamped receipt to be
be recorded in CBS.
obtained from the dealer. Statement of account to
In case of NPA accounts inspections would be made twice
be verified from which the cash has been
a year.
withdrawn for payment of margin.
Waiver of Post Sanction Inspection (PSI) for Defense
Disbursement: Disbursement is to be made only
Salary Package A/cs (DSP A/cs (T& C applied).
to dealer’s account available in RLMS mandatorily
through RLMS only either by transfer (if dealer has
Repayment on the basis of equated monthly instalments,
account with us) or through NEFT/RTGS only (if
preferably with a check off facility/SI/ECS/NACH in the
dealer is not having account with us), without any
case of salaried persons.
manual intervention. (e-circular NBG/PBU/AL-
In case of Govt officers who are themselves the drawing
AUTO LOAN/20/2018-19 dated 21.08.2018)
and disbursing authorities and take car loans, a Letter of
Undertaking on the lines of Annexure Car VIII need only be
obtained.
Security: Hypothecation and Registration of
Vehicle

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 QuickSuccessSeries:PSegLoanProducts(UpdatedUptoOctober’2024)
Maximum Number of car Loans: At any point of time
INTRODUCTION OF FLEXI PAY OPTION maximum3 car loans only should be outstanding in our
Flexi pay option is introduced in New Car Loan and books. Refer e-circular No. NBG/PBU/AL-AUTO
NRI Car Loan so that repayment commensurate LOAN/5/2019-20 Dated 24.05.2019.
with income generation pattern of borrower over a Rollout of Digital Platforms RAAS &RLMS for End-to-End
period of time and repayment commitments are Management of Auto Loan Journey.
fulfilled without any default. RAAS application will be used as a gateway for sourcing
First 6 months EMI to be 50% of Regular EMI leads/ applications and the rest of the journey will be
applicable & next 6 months 75% of Regular EMI completed at the RLMS application.
applicable, provided, the tenure of loan is
minimum 60 months. Waiver of Opinion Report / Asset & Liabilities
Prepayment penalty: NIL (For Loan sanctioned Statement: Compilation of Opinion Reports / Assets &
on or after 01.10.2021. Liabilities Statements is waived for all car loans upto
Foreclosure Charges: 2% + GST on Theo-balance, Rs.20.00lacs; if,the CIC Score is721 and above.
in case foreclose within 1 year from the date of
disbursement of loan. (For Loan sanctioned Rate of Interest Always Linked to CIC score and Tenor
after16.11.2023) opted for. (In any case it should not be Below MCLR)
INSURANCE: Comprehensive insured with Banks Linked to 1 Year MCLR: presently 8.95 %( W.E.F.
charge in the name of the borrower. 15.08.2024).
New vehicle should be insured for 95% of Ex- Concession in Rate of interest:
showroom price irrespective of loan amount. Case to case basis from 5bps to 15 bps by DGM (B& O) to
A copy of Insurance policy for 1st year to be CGM (circle)
obtained and retained with the loan documents. DMD (RB) can provide concession Up to applicable MCLR
Borrower is expected to keep the vehicle for CIBIL score of 721 and above 2nd CIC score 721 and
insured. In subsequent years, obtention of above.
insurance policy for bank record is waived for Rate of Interest for Members of Parliament: They are
loans up to Rs. 20.00 Lakh. offered Car Loans at 5 bps below the interest rate
applicable under various car loans schemes for purchase of
Digital Document Execution (DDE) in Auto Loans new cars.
NeSL (National E-Governance Services Limited),is Penal Interest on Irregular Loans: If the irregularity
providing Digital Document Execution (DDE) facility exceeds EMI or Instalment amount, for a period of one
which involves real time execution of loan Month, then penal interest would be charged @ 2%p.m.
documents through e-signature and e-stamping. (over and above the applicable interest rate) on the
overdue amount for the period of default.
Migration of documents: to respective RACPCs
and RASMECCs to be effected within 2 months Key Fact Statement to Borrowers: Based on Reserve Bank
from the date of disbursement. of India guidelines, a duly filled in Key Fact Sheet as
Transfer of Accounts: Standard assets can be generated through RLMS as part of Loan-cum
transferred from one Branch to another Branch Hypothecation Agreement, should be handed over to all
at the request of the borrower. customers against their acknowledgement on duplicate
Withdrawal of sanctioning power copy at the time of receipt of complete loan proposals by
Branches with NPA in Auto Loan more than the Branch/CPC.
1.50% should be barred. The sanctioning power
can be restored after NPA% has reduced below CERSAI REGISTRATION-since dispensed with due post-
1%. merger of CERSAI with vahan.nic.in. Any vehicle registered
with VAHAN registry shall be deemed to be registered with
CERSAI for the purposes of SARFAESI Act, 2002.

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 QuickSuccessSeries:PSegLoanProducts(UpdatedUptoOctober’2024)
Guidelines on dealing with Credit Information Loan To Value (LTV)- HIGHER LTV IN CAR
Report (CIC) LOANS
100% On-Road Finance to Permanent Employees with
For Loan Limit of Above Rs. 5.00 Lakhs two CIC Diamond and above salary package variants of Corporates,
reports to be taken. There is no change in State and Central Govt., Public Sector
threshold limit for taking second CIR. Undertakings/Corporations & Govt. Pensioners (having
salary account/pension account with SBI) with following
Sl Typ CIC conditions:
n e of Minimum CIBIL Benchmark – 757 and more Minimum Net
o loan monthly Salary - 60K ₹ and more (to be checked for last 3
Primar Secondar Next Next# months)
y y # Job stability - Minimum 2 years.
1 Auto CIBIL Experian CRIF Equifa Maximum Loan - Up to 20 Lakhs. ₹ For Loans above 20
loan x Lakhs, ₹ deviation to be taken from CGM Circle.
For remaining customers, Eligible loan amount to be
## in case of no hit in preferred CICs’ database uniform at 90% of On-Road Price (without capping of 100%
Ex-showroom price)
Minimum CIBIlscore requirement
Sr.No Category Revised
Instructions On-road finance value to include Ex-Showroom Price,
1 All Govt. Employees 650 One year Insurance andRTO charges only.
having Salary Package Approved Higher LTV norms will be applicable for all
accounts with SBI: variants of New Car Loan Scheme (SBI Car Loan Scheme,
Minimum CIC (CIBIL) NRI Car Loan, Loyalty Car Loan and Assured Car Loan) and
Score Green Car Loan Scheme for mentioned category of
2 For others: Including 700 Customers.
Salaried customers other
than Govt. Emp. Salary
Package Accounts

Auto Loan - In case of CIC (CIBIL) Score of -1:

i)Clear Sanction for NTC 151 to 200
(ii) NTC 101-150. Deviation required as per the
required parameters.

Incentives to Dealers/DSEs/ALCs/Dealers
Representatives: Latest Guidelines (10.09.2024)
Revised dealer payoutis 2% (including GST).
Dealer pay-out is done from earmarked BGL Head,
as mentioned in the Auto Loan Master Circular.

*NO DEALER PAYOUT FROM NON-HUB

BRANCHES FOR CAR LOAN BUSINESS
Non-hub branches are not authorized to source /
book car loan business from car dealers and to pay
commission to the car dealers.

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 QuickSuccessSeries:PSegLoanProducts(UpdatedUptoOctober’2024)
Loan Amount:-Minimum: Rs.1.00Lakh
SBIAutoLoanVariants: Maximum: For Salaried: Upto48timesthe (NMI).
For Self-employed, Professionals, Proprietor and
1. SBI Car Loan Businessmen: Up to 4 times the Net Profit or Gross
2. SBI Green Car Loan (Electric Vehicle) Taxable Income per annum as per ITR.
3. NRI Car Loan For Agriculturists: Upto 3 times the Net Annual Income
4. SBI Assured car Loan Project Cost :( On-road price) include ex-showroom
5. SBI Loyalty car Loan price, road taxes, insurance.)
6. CERTIFIEDPRE-OWNEDCARLOANS EMI/NMI:-
7. HIGHVALUESUPERBIKE LOAN Net Annual Income EMI/NMI Not
8. TWO-WHEELERLOANSCHEME to Exceed
9. Mission Shakti Scooter Yojana (Exclusively for Up to Rs.5 50%
Bhubaneshwar Circle-Odisha State) Rs. 5- 10 Lakhs 60%
10. SBI Easy Ride-Pre-Approved Two-Wheeler Rs. 10- 15 Lakhs (CIC 700 and 70%
Loan Scheme (PA2WheeL) Above)
11. Apun Bahan Scheme (Car loan and 2 wheeler Above Rs. 15 Lakhs (CIC 700 and 75%
loan for permanent employees of Assam State Above)
Government)
LTV & Margin: 100% of On-road Price for CSP customers-
Diamond and Above Variants, Permanent Employees of
SBICarLoan Central and State Govt., Public Sector Undertakings/
Purpose:-For purchase of new Passenger cars, Corporations and Govt. Pensioners with CIBIL score of 721
MUVs and SUVs. and above. (LTV subject to maximum of 100% of ex-
Eligibility: - Regular employees of State/Central showroom price of the vehicle).
Govt., PSU, DSP, P MSP & ICSP) Customers and For others -Eligible loan amount to be uniform at 90% of
Short Commissioned Officers of various Defence On Road Price. (LTV subject to maximum of 100% of ex-
establishments , corporations, private sector showroom price of the vehicle).
companies, reputed establishments and
pensioners. Professionals, Self-employed, Margin:10% of On-road price OR On-road price minus Ex-
Businessmen, and others who are income tax showroom price, whichever is higher.
assesses. Persons engaged in agriculture and Rate of Interest:-As per CIC Score and Term of Loan
allied activities. Processing fee:
Age: - 21-70 years, maximum permissible tenure Loan amount Processing Fee
of the loan within 75 years of age of applicants.
Income (Including Co-applicant, if any):- Up to Rs 5 lacs Rs 750+GST
For Salaried-NMI>=25000, NAI>=300000/- Rs 5 lacs to Rs 10.00 lacs 1250/-+GST
For Self-employed, Professionals, Proprietor / above Rs. 10.00 Lakh- Rs. 1500/- + GST
Partner and Businessmen: Net Profit or Gross
Taxable income of Rs. 3, 00,000/- p.a(Income Term:-Minimum: 3 Years; Maximum7 Years or Up to the
from other sources like Bank age of 75 Years whichever is earlier. (In case of co-
Interest/Dividend/Rent can be added) borrower, repayment period will be counted on the
For Agriculturists: NAI of Rs. 4, 00,000/-(Net basis of applicant with higher age)
monthly income of applicant(s) should be at Security: Hypothecation of vehicle
least 2 times of EMI. Co-borrower:-Maximum2applicants.
The maximum number of applicants should be Risk Scoring Model: - Applicable
restricted to two. (Co-applicant can be Father, PSS-Applicable
Mother, Spouse, Son, and Daughter). Post Sanction Inspection: Applicable

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 QuickSuccessSeries:PSegLoanProducts(UpdatedUptoOctober’2024)

SBI Green Car Loan (For Electric vehicle) Loan Amount: Minimum: Rs.1.00Lakh;
Term: Minimum: 3Years; Maximum: 8Years. Maximum: 18 times of NMI (of Borrower) or 1.5 times
Rate of Interest: Concession of 25 BPS in of NAI (of Borrower)
applicable rate of interest for SBI car loan & not (Others Parameters viz Purpose, Age, Rate of Interest,
below 1 year MCLR EMI/NMI, Loan to Value (LTV), Margin, Loan Term,
CIC (Credit vision) Score: Minimum700 Risk Scoring Model, Pre-sanction survey, Post sanction
Margin: 10% of on-road price for all types of inspection will be applicable; as in SBI Car Loan
customers Scheme).
Processing Fee: Concession of 50% of the Note: Repayment in NRI Car Loan and Closure of NRI Car
Processing fee applicable to SBI new Car Loan Loan through Cash Deposit is restricted as per RBI Master
(Other Terms and conditions of Existing Car Direction 6/2015-16 dated 01st January 2016.
Loan Scheme will remain same.)
SBI Assured Car Loan
NRI Car Loan
Eligibility:- Existing customers with unencumbered
Eligibility:-Non-Resident Indian (the NRI will be Fixed Deposits.
the Borrower and the NRI’s close relative in India Age:-Minimum: 18Years.Maximum: No stipulation.
will be the Co-borrower/Guarantor. Income: - Not stipulated. Income declared by applicant
For Borrower: NRI fulfilling following conditions: will be accepted. Loan amount is based on the fixed
Having valid Indian passport deposit value.
Steady Source of Income Loan Amount:-On-Road price of the vehicle.
Employedabroadforatleast2years MinimumRs.1Lakh; Max:100%ofFDvalue.
Holding valid job contract /work permit EMI/NMI & Risk Scoring Model: Not Applicable
For Our Bank Customers: LTV, Margin& Processing fee:-NIL
Having NRI account for at least 12 months with (Parameters viz Purpose, Rate of Interest, Loan Term,
min. average balance of Rs. 50,000/- or New On Road Price, Pre sanction survey, Post sanction
Account with USD 5000/- or equivalent. inspection will be applicable; as in SBI Car Loan
Scheme)
Other Bank Customers: Important Instructions:
Having NRI account with other Banks for last 24 The car loan under the scheme will be sanctioned to the
months with a minimum balance/fixed deposits customer having TDR/STDR in his/her own name.
of Rs.50, 000/- Deposit in joint names with only two persons will be
The borrower will open NRI account with SBI for accepted. In case of joint deposit, one will be primary
Repayment of EMIs. borrower and other will be co- borrower.
Co-applicants/Guarantor: Resident Indian who Third party TDRs/STDRs will not be accepted.
is the guarantor to the loan in NRI Car Loan Documents necessary for creation of lien to be
should be a close relative, obtained.
Close relative means (Father, Mother, Spouse, During continuation of car loan, partial withdrawal of
Son and Daughter); TDR will not be allowed.
Income:- Forfeiture of the Deposit may be permitted for
For Borrower: Minimum NMI US $ 1000.00 or liquidation of the entire loan, at the request of the
equivalent in other currencies Or, Minimum NAI borrower.
US $ 12000 or equivalent in other currencies CIC scrutiny to be conducted to ensure that the
For Guarantor: No stipulation. Income from co- applicant is not a defaulter to Banks/Financial
applicant can be considered for arriving at loan Institutions. Applicants with CIC scores less than 650
eligibility. and NTC categories will also be eligible.

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 QuickSuccessSeries:PSegLoanProducts(UpdatedUptoOctober’2024)
In addition to Lien marking on underlying
deposit, collateral security is also to be created Duplicate RC book: Financing of old vehicles on the
in CBS for the underlying deposit. basis of duplicate Registration Books will not be
entertained
SBI Loyalty car Loan
(For Existing Home Loan Borrowers) Maximum Number of ownerships: The ownership
vehicle which is put up for sale under certified
Eligibility:-Individuals including joint borrowers preowned should not have changed more than 2 times.
who have; Availed the housing loan from SBI, Eligibility: Age: 21-67 years.(Loan must be fully repaid
Satisfactorily serviced the loan for at least one before the borrower attains the age of 70 years.)
year After the moratorium period,
Taken the possession of the house. Income :( Minimum CIC – 689 & NTC Customers)
Created valid equitable mortgage and Salaried: Net annual income of applicant and/or co-
Maintained security margin of at least 15 % for applicant if any, together to be ₹ 3, 00,000/- and
purchase/construction of plot/house. above.Net monthly income of applicant(s) should be at
Completed all terms and conditions regarding least 2 times of EMI
sanction of housing loan. Income Self-employed and Professionals & Others:
Income:-MinimumNAIoftheborrowerRs2.00Lacs. Minimum CIC–700 & NTC Customers.
Loan Amount:- Net annual income of applicant and/or co- applicant if
Loan amount has been de-linked with market any, together to be ₹ 3, 00,000/- and above for the last
value of the house property and outstanding in HL year as per income tax return. Net monthly income of
ac. applicant(s) should be at least 2times of EMI.
Instead, the loan eligibility to be decided as per Persons engaged in agriculture and allied
regular new car loan scheme. activities/Businessmen: Businessmen & agriculturist not
b) Extension of charge on the mortgaged property eligible in the scheme.
is not require EMI/NMI ratio will be as per . Loan Amount:
respective car loan scheme.
LTV & Margin: - Maximum up to 100% of Ex-
show Room Price.
Margin: Nil
Rate of Interest:-5 bps concession in interest
applicable to SBI Car Loan.
Security:-In addition o Hypothecation of vehicle
only
(Others Parameters viz Purpose, Age, EMI/NMI,
Loan Term, Risk Scoring Model, Presanction
survey, Post sanction inspection will be Margin: For all Loans margin is 15%
applicable; as in SBI Car Loan Scheme.) EMI/NMI: up to 5 la cs 50%
5 to 10 lacs 60%
CERTIFIEDPRE-OWNEDCARLOANS above 10 lacs 65%
Purpose: Term Loans for purchase of Certified Valuation: Valuation done by Certified Car Dealers of
Pre- Owned cars. OEMS like Maruti True Value, Mahindra First Choice etc.
Age of the vehicle: Not more than ten (10) years and Fintechs.
old. LTV: 85% of valuation price
Tenure/Repayment:10 years minus the age of Interest rate: (CIC Based Rates are Applicable) Current 1
the vehicle at the time of applying for loan Year MCLR: 8.95.00%
subject to a maximum tenure of 5 years. Takeover: Not to be considered

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Processing Fee: Processing fee is to be HIGH VALUE SUPER BIKE LOAN

recovered on the loan amount upfront as under:
1.25% of loan amount +GST Min – ₹ 3750/- + GST 1) Purpose: To provide finance for purchase of
Max. ₹ 10,000/ +GST premium segment Two-wheelers.
Service fee to the Dealers (for sourcing Certified 2) Eligible customers
Car Loan Business): Maximum 2% i) Existing and New to Bank customers (individual
SSl commission -0.60% applicants), of under noted
Penal interest: 2% p.m. (over and above the Categories:  1. Salaried (including short, commissioned
applicable interest rate) on the overdue amount officer in defense establishment).
for the period of default. ii). Pensioners.
DOCUMENTS: At the time of application: iii). Self-employed professional, Proprietor, Partner and
a. Valuation Report (Quotation) other IT assesses including businessman & traders. 4.
b. Margin Money Receipt (Original Persons engaged in Agriculture and Allied activities.
c.Copy of Seller’s RC Book 3) Age 21-57 Years (Loan must be fully repaid before the
d. Copy of Seller’s Motor Insurance borrower completing the age of 60 years).
e. Passport Size Photographs (2 Nos.) Borrowers /
Guarantors (Wherever applicable). 4) Minimum Income
Form 16 or IT returns for last 2 years (wherever Salaried: Net Annual Income of applicant and/or co-
applicable) applicant if any, together should be 3.00 Lakhs and above.
Latest Salary slip and last 2 years Form 16 ITR required as
At the time of Disbursement: income proof document.
a. Sale Agreement between Dealer and Seller, II. Pensioners: Net Annual Income of applicant and/or
may or may not be stamped OR coapplicant if any, together should be 3.00 Lakhs and
Undertaking from seller that he has sold above. Accordingly, NAI will be 12 times of NMI.) Latest
the vehicle, received sale consideration Salary slip and Form 16 or ITR required ad income proof
and has no claim whatsoever. documents.
b. Undertaking from the Dealer to the Self-employed Professional, Proprietor, Partner, and
financier. (Annexure-A) other IT assesses including businessmen & traders: Net
c. Hypothecation clearance letter from Bank Profit or Gross Taxable income of 3.00 Lacs p.a. (income of
along with Copies of HPTER (Form 35), ₹ co-applicant can be clubbed together) as per ITR.
wherever applicable. ITR for last 2 years and TDS certificate (if applicable)
d. Correspondence with the Insurance required as income proof document
Company regarding change in insured’s Agriculturists: Net annual income of applicant and/or co
name and financier. applicant together to be .4 Lacs and above.
e. SSL Confirmation Letter (Annexure-B) 6 EMI/NMI Ratio Up to 50% for all applicants.
7 Loan Amount Minimum: 1.50 lakh. ₹ Maximum: 25.00
Immediately after Disbursement: Lakhs.
a. Vehicle Delivery Confirmation Minimum Margin SPA Customers: 15% of On-road price
b. Form B extract from RTO of the vehicle.  Others: 20% of On-road price of the
c. Receipt of fees paid by dealer to RTO for vehicle.
transfer of ownership. Thereafter within 30 Repayment Period Up to 60 Months or before the
days after Disbursement: a. Copy of RC borrower completing 60 Years of Age, whichever is earlier.
Book with Bank’s charge noted therein b. Processing Fees 2 % of loan amount + GST subject to
Copy of Insurance Policy with Bank’s maximum 10,000 + GST.
Hypothecation clause. Security Hypothecation of Vehicle by noting Bank’s
Charges in the books of RTO.
Pre / Post Sanction Survey – Required.
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Authorized Branches Auto Hub Branches only.

CIC Score (Credit Vision) SPA customers: Minimum 650

Rate of Interest (Fixed): based on CIC and linked to and NTC*. Others: Minimum 700 and NTC*.
1 year MCLR. Rate of Interest (Fixed) - CIC Score Band (Credit Vision) &
Retail Scoring Model- Applicable as for 2 wheeler linked to 1year MCLR.
scheme. Repayment Mode➢ SI/NACH.
Maximum number of Two-wheeler Loans Security I. Hypothecation of Vehicle and noting of
Restricted to maximum 2 number of Two-wheeler charges.
loans. Penal Interest on Irregular Loans: 2% per month over and
above applicable int rate.
TWO-WHEELER LOAN SCHEME Processing Fees➢ 2 % of loan amount + GST.
Purpose Insurance➢ Vehicle to be insured for 1 year own damage
➢To provide finance for purchase of new Two and 5 years third party insurance upfront with
wheelers viz. scooter/motorcycle/ moped/battery hypothecation clause in favour of the Bank.
operated/electric vehicles of reputed make Sourcing / Dealer Commission➢ Sourcing Commission:
2 Eligible customers 2.5 % of loan amount + GST#
Salaried - Existing Salary package customer of our
➢ Dealer Commission: Up to 2.0 % of loan amount +GSt.
bank and salaried customer of our Bank, and New
It has been approved by competent authority to engage
to Bank customers, Pensioners Self-employed,
the services of SBI Capsec Ltd (SSL) in sourcing Two
Professionals, Proprietor, Partner, and other IT
wheeler loan proposal on similar line of car loan sourcing
assesses including businessmen traders
and for collection of Post Disbursement Documents (PDDs
&Agriculturalists.
3 Age➢ 18-65 Years Mission Shakti Scooter Yojana (Exclusively for
4 Repayment Period for Agriculturist: 60 Months
Bhubaneshwar CircleOdisha State
(Max) ➢ For Others: 48 Months (Max)
5 Net Monthly Income I. Salaried: Net Monthly Loan Type Two-wheeler vehicle loan for purchase of new
Income of applicant should be ₹ 10,000 and above. two wheeler.
Income Proof and Documents: A. All Salary 2 Eligible Customers SHG members comprising Federation
Package Customers: Regular Salary credit for the Executive Members and Community Support Staff (CSS)
last 3 months. AND Copy of Salary slip of latest 1 including Women Self Help Group members acting as
month. Business Correspondent Agents, receiving remuneration in
B. For all other salaried customers Salary account Savings Bank account maintained with us.
statement confirming regular Salary credit for last 3 Age 21-57 years.
6 months. And 1 month salary slip. 4 Loan tenure Up to 48 months
Self-employed, Professionals, Proprietor, Partner, Loan Amount Minimum ₹ 0.50 Lakhs. Maximum ₹ 1.00
and other IT assesses including businessmen & Lakhs. Subject to Maximum 100% of On-Road price of the
traders: ₹ 1.50 lakhs p.a. as per ITR. Vehicle.
Agriculturists: Net annual income of ₹ 1.50 Lacs. Margin Nil.
6) Loan Amount➢ Min Loan: ₹.0.50 lakh ➢ Max Interest rate (Fixed) 12% per annum. Interest will be
Loan: ₹.3.00 lakh Subject to maximum, 6 times of borne by Dept of Mission Shakti- Govt of Odisha, on
Net Monthly Income and applicable EMI/NMI Ratio monthly basis.
7) EMI/NMI Ratio➢ Up to 50% for all applicants CIBIL Score Minimum 600 and above and NTC.
Up to 60% for Existing salary package customer. Income Minimum Monthly Income of Rs 6000/-
Loan to Value (LTV)➢ 85 % of On-Road price of EMI/NMI Ratio: Up to 50% for all.
vehicle. Moratorium One month moratorium.

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Rs. 5- 10 lakhs 60%
Rs. 10- 15 Lakhs (CIC 700 and 70%
Authorized Branches Home Branch. above)
Retail Scoring Model Waived /No minimum score Above Rs 15 Lakhs (CIC 700 and 75%
stipulation. above)

Interest Claim Process To be obtained from ITS CIC Score Minimum CIBIL Score- 650/NTC (101-200)
Department at the LHO for submission of claim to Tenure &Repayment Minimum- 3 years Maximum- 7
DMS, Govt. of Odisha. years.
Insurance Vehicle insurance to be obtained for 3 Processing Fee Flat processing charge of Rs.1,000/- plus
years at the initial stage. GST.
Sourcing / Dealer Commission: No commission Security Bank's hypothecation charge duly noted and a
payable. copy of R.C.
Insurance Comprehensive insurance covering all risks.
PRE-APPROVED TWO-WHEELER LOAN SCHEME Rate of Interest: CIC based linked to 1 year MCLR.
(PA2WL)
(Since discontinued) Other Conditions: Irrevocable Letter of Authority
addressed to disbursing authority (Self-declaration under
The competent authorities have accorded approval ApunBahan Scheme).  Irrevocable Letter of Authority
for sunset of “SBI Easy Ride” Pre-approved Two from the person authorized to disburse
Wheeler Loan offered through YONO.Wef salary and allowances (D.D.O Certification under
15.06.2024 ApunBahan Scheme).

APUN BAHAN SCHEME- NEW CAR LOAN SCHEME ApunBahan Two-Wheeler Loan Scheme- (EXCLUSIVELY
(EXCLUSIVELY FOR PERMANENT EMPLOYEES OF FOR PERMANENT EMPLOYEES OF ASSAM STATE
ASSAM STATE GOVERNEMENT) GOVERNEMENT)

Purpose: For purchase of new Passenger cars, Purpose To provide finance for purchase of new Two-
Multi Utility Vehicles (MUVs) and Sports Utility wheelers viz. scooter/ motorcycle / moped / battery-
Vehicles (SUVs) for personal use operated / electric vehicles of reputed make for personal
Eligible Customers: Regular Employees of Assam use.
State Government Eligible customer: Regular employees of Assam
Age : Minimum Age- 21 years Maximum Age- Government
53 years Age: Minimum -21 year Maximum- 53 years
Monthly Income Minimum Net monthly income Monthly Income: Net Monthly Income Rs 25000/- per
(NMI)-Rs. 25,000 Co-applicant can be added, but month Co-applicant can be added,
loan repayment has to be taken from Applicant Loan amount: Min Loan: ₹ 0.50 lakh
(State Govt Employee account). Loan amount Maximum loan amount will be either 48 times the net
Minimum Loan Amount- 1 lakh. monthly income or ₹ 15 lakh, whichever is lower.
Maximum loan amount Either 48 times the net LTV & Margin: 85% of on road price
monthly income or ₹ 15 lakh, whichever is lower. EMI/NMI Ratio: Salary Package Customers: Up to 60% All
LTV & Margin 90% of the on – road price of the others: Up to 50%
vehicle or 48 times the net income, whichever is CIC Score: Minimum CIBIL Score 700/NTC (101-200)
lower. (Loan Maximum up to 100% of Ex-show Tenure & Repayment: minimum 3 years and maximum 4
room price). years for TwoWheeler loan.
EMI/NMI Ratio Processing Fee: Flat processing charge of Rs. 1,000/- plus
Net Annual Income EMI/NMI Not GST
to Exceed Security: Bank's hypothecation charge
Up to Rs.5 Lakhs 50%
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Insurance Vehicle to be insured for 1 year own
damage and 5 years third party insurance. 5. Security: Pledge of gold ornaments including gold coins
Rate of Interest: CIC based linked to 1 year MCLR. sold by Banks. Loan can be granted against the security of
specially minted gold coins sold by SBI/e-ABs weighing up
Other conditions:1)Irrevocable Letter of Authority to 50 grams per customer only. At present, loans are not
addressed to disbursing authority (Self-declaration granted against the security of Primary Gold i.e., 24 carats
under Apun Bahan Scheme). gold bars and biscuits. 6. Number of Gold Loans per
Customer in personal banking segment: At the time of
 Irrevocable Letter of Authority from the person sanction of Gold Loan to the existing borrowers, there
authorized to disburse salary and allowances should not be more than three Gold loans including the
(D.D.O Certification under Apun Bahan Scheme). proposed one.
Other terms & conditions of existing Two-Wheeler 7. LOAN TO VALUE RATIO: The LTV of 75% must be
Loan Scheme will be applicable. maintained throughout the tenor of the loan.

AUTO LOAN CAMPAIGN “DRIVE YOUR DREAMS”

CAMPAIGN PERIOD: 15.08.2024 TO 31.12.2024 8. VERIFICATION OF GOLD ORNAMENTS a) Touch stone
method b) Nitric acid test c) Specific gravity test d) Gold
.Enablers available in Car Loans:  100% Waiver in assaying machine (Karatometer)
Processing fee, and 9. VALUATION OF GOLD ORNAMENTS: • For gold loans
Revised Dealer pay-out structure exposure at CIF level, up to Rs. 50,000 assessment by
empanelled Gold Appraiser is optional. (Up to Rs.1, 00,000
in case of four circles
PBBU: GOLD LOANS (Processing of Gold Loan)
SBIGOLD LOAN SCHEME i.e. Amaravati, Chennai, Hyderabad and
Thiruvananthapuram Circles).
1. Credit Facilities: Demand Loan, Cash Credit and • For gold loans exposure at CIF level above Rs 50,000 but
Overdraft. below Rs.5 lacs, ornaments are to be assessed by
2. Purpose: To meet the short-term crop minimum one empanelled gold appraiser, for its quality
production needs of farmers / general purpose and weight before accepting them for pledge.
loan scheme for personal segment Individuals. • Gold loans exposure at CIF level of Rs. 5 lacs and above
Loans are not granted against security of Primary to a customer should be appraised by two empanelled
Gold i.e., 24 carats gold bars and biscuits. appraisers mandatorily.
3. Eligibility: • KYC compliant individual who are 10. CUSTODY OF GOLD ORNAMENTS PLEDGED: Gold
above 18 years of age with steady income • ornaments must be stored in joint custody of Branch
Individual as P segment customers, Bank’s Manager where BM is joint custodian / Accountant and
employees, pensioners. the Cash Officer/Cash-in-charge
11. DECEASED BORROWER:  Interest on the account of
• A declaration from the borrower be obtained by the deceased borrower is charged as per the contracted
the branches about ownership of the ornaments rate 
offered for pledge. If the legal heir(s) / near relatives wish to liquidate the
• For Realty gold Loan: In addition to above, outstanding in the gold loan account, they can be
Customer should have housing loan with SBI (both permitted to do so by giving them clear understanding that
existing and new) with Minimum capacity to the ornaments will be delivered only to the legal heirs only
service the interest/EMI (as applicable) and RSM on production of legalrepresentation in the proper way
score of 31 and above, as applicable to Gold Loan. and that the amount so deposited would not be refunded
4. Advance Value: Advised by Precious Metal to them in case if they fail to obtain legal representation in
Department, Corporate Centre, Mumbai from time their favour.
to time.
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The ornaments will be delivered to the legal heirs
on production of the legal representation or on SBI PERSONAL GOLD LOAN (EMI BASED)
completing A traditional variant of P- segment Gold Loan with
repayment Facility in 36 Months.
the Bank’s formalities with regard to delivery of the
ornaments in lieu of the proper legal Facility: Demand Loan
representation. Margin: 25% Repayment Period: Maximum: 36 months
Pending completion of the formalities/production Repayment Mode: The repayment of EMI should
of the legal representation and delivery, the gold commence from the month following the month of
ornaments should be held as safe deposit articles disbursement
under joint custody.  RBI has advised the Bank Pre-payment Charges: Nil
that they may not insist on legal representation
from the legal heirs for release of gold ornaments SBI PERSONAL LIQUID GOLD LOAN (Overdraft)Liquid Gold
pledged for loans of deceased customers, Loan Scheme’, a variant of Per Segment Gold Loan is
irrespective of the value such assets, except in the withdrawn vide Circular No.: R&DB/PBU/CD&e-COM-
following cases. GL/19/2023 - 24 Date: 03.01.2024
 (i) When there are disputes amongst the legal
heirs and all of them do not join in indemnifying
the bank, and  SBI REALTY BULLET REPAYMENT GOLD LOAN

(ii) where bank has reasonable doubt about A variant of Realty Gold Loan where repayment of loan is
genuineness of the claimant(s) being the only legal permitted by way of bullet repayment during the loan
heir(s) of the deceased customer . period/End of the term i.e. there is no repayment
ANNUAL REVIEW OF GOLD RETENTION LIMIT:  obligation during the loan term.
Gold Retention Limit of the branch will be Facility: Demand Loan
reviewed annually at the time of review of Cash Margin: 35%
Retention Limit.  Gold Retention Limit may be Repayment Period: Maximum: 12 months Repayment
fixed based on the business of loan against Gold Mode: Bullet Repayment of Interest and Principal at the
ornaments (Limit Sanctioned) as on 31st March time of closure/end of the term.
after adding 50% for margin and business growth Interest will be charged in the account at monthly rests
but will become due for payment along with principal only
. PRODUCT VARIANTS IN P-SEGMENT GOLD on maturity.
LOAN:SBI GOLD LOAN-BULLET REPAYMENT Pre-payment Charges: Nil
A variant of P-segment Gold loan where
repayment of loan is permitted by way of bullet SBI REALTY EMI GOLD LOAN
repayment at the end of the term i.e., there is no A variant of realty Gold Loan where principal together with
requirement to service the interest or instalment interest is repayable in equated monthly installments
during the loan term. (EMIs)
Facility: Demand Loan Facility: demand loan Margin: 25%
Term: 3/6/12 month Period of loan: Maximum: 36 months
Margin: 30% for 3 to 6 month Term Loan 35% , for Repayment mode: EMI from the next month of the
12 month Term Loan disbursement of the loan.
Repayment Mode: Bullet Repayment of Interest Pre-payment charges: Nil
and Principal at the end of the terms.
Interest will be charged to the account at monthly SBI REALTY LIQUID GOLD LOAN (overdraft)
rests but will become due for payment along with This variant of Per Segment Gold Loan is withdrawn vide
principal only on maturity. Circular No.: R&DB/PBU/CD&e-COM-GL/19/2023 - 24
Pre-payment Charges: Nil Date: 03.01.2024
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TOP UP GOLD LOAN initial period of 36 months.
An additional gold loan for our existing customers (b) Loans for housing purpose: Gold loans sanctioned for
to meet their short term bonafide requirements. housing purposes may be recovered
Account should not be SMA/NPA

Facility: Demand Loan (Bullet Repayment) in 100 monthly instalments (inclusive of interest) on under
Margin: 50% at the time of sanction of top up gold noted conditions:
loan. However, minimum margin of 25% is to be i. It must be ensured that the monthly instalments and the
maintained by the customer throughout the tenure periodical interest are recovered directly from the salary
in all his gold loans together against the common and allowances payable to such employees.
security. ii. The documents are kept alive by reviving the same as
Repayment Period: End of Term. Maximum Period per extant instructions.
is 12 months or currency of the original loan iii. Sources of finance for completion of the housing
whichever is lower projects be scrutinized properly and if there be a need
Primary Security: NIL then only request for sanction of gold loans for housing
Collateral Security: Extension of Pledged Gold purposes be accorded to.
Ornaments/ Jewellery in favour of the Bank. iv. The total repayment obligations in all respect against
the gross salary of the employee should not become
onerous, in other words, must not exceed
ADVANCES TO STAFF AGAINST GOLD
ORNAMENTS: (DEMAND LOAN)
Demand loans against security of gold ornaments / 60% of the gross emoluments excluding the statutory
specially minted gold coins sold by banks can be deductions viz. Provident Fund, Income Tax, LIC Premium
granted to members of staff for the following and Professional Tax
purposes, v. In the event of employees retiring before completion of
(a) Medical expenses. the repayment period, it should be ensured that the
(b) Expenses incurred/to be incurred in purchasing resultant repayment burden on pension, if entitled for
land/building or construction of a house. payment of pension from the Bank, will not be onerous. In
(c) Educational expenses of dependent children for the event of non-fulfilment of this condition, the
study in India or abroad, and employees will have to liquidate at the time of their
(d) Marriage of sole dependents. retirement out of the terminal dues payable to them.
(c) Gold Loans are granted to the members of staff (all
Recovery categories) for purposes other than those mentioned
(a) Loans for medical/educational above, are repayable in a maximum of 36 monthly
expenses/marriage of sole dependents: instalments (inclusive of interest).
i. Demand loans granted to members of staff (all
categories) for the above purposes against security GOLD LOAN TO SBI CARD CUSTOMERS
of gold ornaments are repayable in a maximum of i) With the objective of boosting our secured loan portfolio
60 monthly instalments (inclusive of interest). under P Gold Loan, it has been decided to “offer Gold Loan
ii. As circumstances differ from person to person, to SBI Credit Card holders, whose payments are in
and if it is not possible to repay the gold loan taken arrear/eligible for restructuring”.
by employees for marriage which was to be ii) In this regard the instructions as under – • SBI Card will
repayable in 60 instalments sanctioning authority identify its customer base (Banca Channel and Open
may consider each case of merits for extension in Market) which gold loan campaign would be run.
repayment. • SBI Card will map the customer Pin code (residence
iii. It should be ensured that relative D.P. Notes are address) with Branch code master to map nearest SBI
renewed well in advance before the expiry of the Branch for the customer.
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 Loans can also be granted to Third
• SBI card will run campaign (SMS/E-mail) on said Parties (individuals) against the
accounts via Collection CRM informing customer deposits, which are not held in their
about the gold loan offer at SBI Bank. names.
• Customer will approach the bank for gold loan.  Non-Home Branches shall not
sanction and disburse loan against
Bank will consider P Gold Loan applications strictly
Time Deposits.
on the merit and within the laid down procedure
 No advance will be granted against
of the bank. security of Term Deposit Receipts
issued by other banks.
Loan is not allowed against SBI Tax
• The bank will remit the money from SB accounts Savings Scheme -2006 during the lock
to SBI cards, as per signed authority letter of the in period of 5 years.  No Loan /
borrower. iii. The Advance shall be made against Term
Deposits in the name of Govt.
detailed procedure along with the format of Officials/Departments issued at the
Authority Letter to be obtained from the request of Contractors/Traders
borrower(s), in addition to the laid down loan
documents.

Loan against Deposit (Domestic) Margin *5% Margin on (Principal + Accrued

(Public) interest) if residual tenure of Time
deposit is up to 36 Months as on date of
To meet depositors’ liquidity needs, branches can availing of loan.
grant loans against the security of the following *10% Margin on (Principal + Accrued
types of the Time Deposits: interest) if residual tenure of Time
deposit is more than 36 Months and upto
 Term Deposits (including NRE/NRO /FCNR
60 months as on the date of availing of
deposits) loan. ❖ 15% Margin on (Principal +
 Special Term Deposits (including Accrued interest) if residual tenure of
NRE/NRO/FCNR deposits) Time deposit is more than 60 months as
on the date of availing of loan. ❖ In case
of TDRs branches has to obtain the
 Recurring Deposits (Accounts with balance of
mandate from the borrower that to credit
Rs.100/- & above only, the interest earned on my/our TDR(s) in
the loan account instead of my/our
Parameter Description deposit account till the loan is liquidated.
Eligibility Against time deposits, held by Indian
National as well as NRIs either in Margin ❖ 5% Margin on (Principal + Accrued)
(Staff / interest if residual tenure of Time deposit
their sole name or joint names with
is up to 60 Months as on date of availing
‘E or S’ / ‘anyone or S’/ F or S Bank’s of loan.
mandate”. Pensioners) ❖ 10% Margin on (Principal + Accrued)
 In joint mode of operation, loans interest if residual tenure of Time deposit
can only be granted to all the is more than 60 months as on the date of
depositors jointly. availing of loan
 In case of survivorship joint
deposits with ‘E or S’ / ‘anyone or S’/ Loan Demand Loan i) Overdraft i)
F or S, survivor need not be made Amount Maximum upto Maximum upto
joint borrower, however such 95% of the 95% of the
(Public)/ principal plus principal plus
survivor must be joined in the Staff/ Bank accrued interest. ii) accrued interest. ii)
creation of pledge over the term pensioners Only one demand Overdraft facility
deposit jointly held i.e., the pledge loan will be to be given against
document should be executed by sanctioned against multiple Time
both the joint deposit holders. one Time deposit. deposits. iii)

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iii) DL will be Maturity proceeds
liquidated on of Time deposit
maturity of Time will be credited to
Deposit OD account and DP
will be reduced.

Rate of For Public loan: On DL-1.00% above the

interest relative time deposit rate.
On OD- 1.00% above the highest rate of
interest being earned amongst all
TDRs/STDRs against which the OD is
granted. On Staff Loan :
On DL-Same as rate of interest applied on
deposit.
On OD: Int will be charged at the highest
rate of interest being earned amongst all
TDRs/STDRs against which the OD is
Family members of Staff / Retired
staff are not eligible for staff loan
benefits.
Security: Lien/hold to be recorded in the system.

IRAC Norms: Account will be classified as NPA as and

when the loan outstanding plus accrued
interest exceeds the security value plus
accrued interest without moving to SMA
0,1,2 (902 arrear condition) for both DL
and OD accounts.

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SBI PERSONAL GOLD LOAN SCHEME

Parameters Parameters Description / Criteria

1 Purpose Loan scheme to individuals against collateral security of gold ornaments &
specially minted gold coins sold by Banks.
loans are not granted against the security of Primary Gold i.e., 24 carats gold bars
and biscuits.
Eligibility Individuals who are 18 years of age
Criteria Proper KYC compliance of the borrower, KYC compliant CIF and minimum
capacity to service the interest subject to score of 31 and above in RSM, as per
(RLMS)
A declaration from the borrower about the ownership of the ornaments offered
for pledge.
Loan Amount Minimum: Rs. 20,000/- irrespective of centre.
Maximum of Rs.50.00 lacs. Loan cannot be sanctioned for more than Rs.50,00,000
per customer
Rate of Intt Interest is linked to MCLR for all the variants of the loan product.
Documentation (a) To Apply Loan: In addition to gold ornaments to be pledged
Application for Gold Loan vide Annexure-PL-50 with two copies of recent passport
size photograph.
(ii) Proof of identity with proof of Address (OVD)
(b) At the Time of Disbursement (All the documents generated from RLMS)
(i) Gold Ornaments Take Delivery Letter
(ii) Witness Letter in case of illiterate borrowers
III)Arrangement Letter to be obtained in duplicate
(iv) D P Note and D P Note Take Delivery Letters
(v) Compilation of Opinion Reports is waived in Gold
Number of At the time of sanction of Gold Loan to the existing borrowers, there should not
Gold Loans per be more than three gold loans including the proposed one.
customer

Discretionary powers in sanctioning of Gold Loans

Gold Loan to public (Other than Gold Loan to Staff)
Position Gold Loan to Public
Assistant General Manager Rs. 50 Lakhs
Chief Manager Rs. 20 Lakhs
Manager Rs. 15 Lakhs
Deputy Manager Rs. 10 Lakhs
Assistant Manager Rs. 5 Lakhs

The Sanction to be controlled online and retained along with the documents.
Disbursement: Proceeds of the Gold Loan accounts should be credited to, linked SB account or
Current Account only.
DEVIATION: At the time of sanction of Gold Loan to the existing borrowers having three or more
outstanding gold loan accounts, prior approval is required from the authority, who is one step higher
to the sanctioning authority

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LOAN AGAINST FLOATING RATE BULK TERM DEPOSIT (FRTD):

❖ Loan/Overdraft facility would be available up to 90% of FRTD amount (excluding accrued

interest). ❖ Interest rate would be 1.50 % p.a. above the applicable floating interest rate at the time
of opening loan account and rising and falling with changes from time to time.
❖ Periodic interest payment, where made, will be credited to loan account only.
❖ Proceeds of deposit shall be credited in the respective loan account.

Online opening of OD against Domestic TDR/STDR/eTDR/eSTDR A/c through RINB/YONO

OD account opened at the Branches OD account opened by the customers through

Retail INB / YONO
Applicability: Fixed Deposits in single or in joint Applicability: Fixed Deposits in single name
name. only.
Limit: Maximum 95% of the face value and Limit: By default 90% of the face value of
accrued interest of the said Fixed Deposit STDR/eSTDR. by default 75% of the face value
of TDR/e-TDR (Customers will have no choice to
fix the lower limit
Loan amount: There is no minimum or Loan amount: Minimum:Rs.5,000/- Maximum:
Maximum loan amount Rs.5.00 Cr
Rate of Interest: 1.00% above the Interest No Change
payable on the Fixed Deposit
Tenure: Keep the Limit/ DP and rate of Interest Tenure: (i)STDR/e-STDR: Maximum 5 years or
as per the loan term. remaining maturity period of Fixed Deposit,
whichever is lower. (ii) TDR/e-TDR: Maximum 3
years or remaining maturity period of Fixed
Deposit, whichever is lower.
Closure of OD A/c: By the Home Branch on Closure of OD A/c: Before maturity of deposit,
maturity or before maturity closure of account will be done on request by
the Home branch.
Availability: During Branch working hours. Availability: The online opening of Overdraft
facility will be available between 08:00 HRS IST
and 20:00 HRS IST.

LOAN AGAINST THIRD PARTY DEPOSITS

Prerequisites:
a) Third Party Loan will be disbursed by Home Branches only, where deposits are held.
b) Execution of documents for the third-party loan must be done in person at home branch along
with the depositor.
c) Loan shall not be granted for re-lending or carrying on agriculture / plantation activities or
investment in real estate business.
d) Term deposits in the name of Govt officials / Department issued at the request of contractors /
traders, etc. for security deposit purposes are not eligible for such loans.
e) Powers of Attorney holders will not be allowed to sign on behalf of the NRI customers in case of
third-party loan against NRI deposits.
f) The facility of premature withdrawal of deposits shall not be available where loans against such
deposits are availed of.
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Documents:-
✓ Loan application form (same as applicable for loan against own deposit).
✓ DP note and DP delivery letter.
✓ Loan agreement – Specified securities (To be stamped as an agreement in accordance with the
Stamp Act in force in the State in which this document is executed and not to be attested).
✓ Arrangement Letter Margin:- • 5% Margin in case the residual tenure of Time Deposit is up to 36
months, as on the date of availing of loan.
• 10% Margin in case the residual tenure of Time Deposit is more than 36 months and up to 60
month as on the date of availing of loan.
• 15% Margin in case the residual tenure of Time Deposit is more than 60 months as on the date of
availing of loan.
LOAN AGAINST NSCs/KVP

Facility- DL or OD

Margina) Staff/ Bank Pensioners- 15% of face value plus accrued interest of NSC VIII issue/KVPs.
b)Public- 40% of face value plus accrued interest of NSC /KVPs.)

Repayment - A suitable repayment schedule is to be fixed. Maximum repayment should be

coinciding with terms of maturity of NSC/KVP. At no point of time, the outstanding in loan a/c should
exceed the maturity value of the certificates pledged. [Otherwise, a/c will be treated as NPA].

Loan Amount: Public: 60% of Face value together with accrued interest. No ceiling on maximum loan
amount provided stipulated margin is maintained.

Staff / Bank’s pensioners: 85% of Face value together with accrued interest. No ceiling on maximum
loan amount, provided stipulated margin is maintained.

Security: The NSCs/KVPs are required to be transferred by the issuing Post Office as a security in the
name of the bank. Discharge of the holder on the reverse of NSCs /KVPs is not considered necessary.
Third party loans against NSCs/KVPs may be considered on merits of each case.

Rate of Interest: For Public: 2.50% over 1- year MCLR wef 20.06.2022.

For Staff/ Bank’s pensioners: i) For loans upto 3 years: 2.00% above 1-Year MCLR

For loan above 3 years: 2.25% above 1-Year MCLR (Family members of Staff/Retired staff are not
eligible for staff loan benefits.)

Documents: • Simple application tendering the NSCs/KVPs and undertaking to repay as per Bank’s
terms and conditions. •

D.P. Note and D.P. Note Take Delivery Letter

Security Delivery Letter
• Revised loan agreement – specified securities (PL-65

LOANS AGAINST LIFE INSURANCE POLICIES

Eligibility
i) The policy stands in the name of the borrower only.
ii) The policy is in force and the insurance premium has been paid up to date.
iiiAll branches can grant loans to the customers maintaining satisfactorily conducted accounts,
against the security of the life insurance policies issued by

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(a) Life Insurance Corporation of India

(b) Department of Post Offices
(c) SBI Life Insurance Company Ltd.
(d) HDFC Life Insurance Company Ltd and
(e) ICICI Prudential Life Insurance.

iv) The age of the insured should have been admitted by the authority issuing the policy.

v) The policy has not been issued under the Married Women’s Property Act, 1874.

Type of Facility: Demand Loan or Overdraft with auto renewal every year

Margin- Loan tenure up to 12 months - 15% Margin

Loan tenure up to 24 months - 25% Margin
Loan tenure up to 36 months - 30% Margin

Maximum Loan Amount: 85% of the present surrender value of the policy
Security: Assignment of Policy (assignment means transfer of an actionable claim, where debt or
any beneficial interest transferred in favour Assignee (the lender) as defined under the Transfer of
Property Act.
Rate of Interest: For Public: 2.50% over 1- year MCLR
For Staff / Bank’s pensioners: 1.00% above the prevailing interest rate payable to public for 60
months TDR/STDR. (Family members of Staff/Retired staff are not eligible for staff loan benefits.)
Documents: - i) Simple Application form undertaking to repay the loan as per terms and conditions
of the Bank.
ii)DP note & DP Note Take Delivery Letter.
iii)Security delivery letter (COS 54).
iv)Life Insurance policy duly assigned in favor of the Bank.

Repayment: Loans should be repaid within 3 years.

LOAN AGAINST SHARES

1. PURPOSE: For meeting contingencies and needs of personal nature and for subscribing to rights
or new issue of shares against security of existing shares. The loans under the scheme are not to be
sanctioned for:-
i) Speculative purposes
ii) Inter-corporate investments
ii) Acquiring controlling interest in company/companies
iii) Loan against our own SBI shares

2. ELIGIBILITY: To individual customers with

i) KYC compliant account
ii) Having Demat account with SBI CAP Securities Ltd (SSL).
iii) The loan account will be opened in the First holder’s name.
iv) All holders have to sign Pledge Request Form. Provision for obtaining the signatures of Second
and Third (if any) applicant has been made in the Pledge Request Form
3. NATURE OF FACILITY: Overdraft only
4. LOAN AMOUNT: Minimum: Rs. 50,000/- Maximum: Rs.20.00 lakhs, (for subscribing to IPOs
maximum loan is Rs.10.00 lakhs)
5. SECURITY: Pledge of Demat Share

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6. MARGIN: 50% of the prevailing Stock Exchange market price of shares as on the date and time of
loan sanction.
7. RATE OF INTEREST: 2.50% above 1-Year MCLR (Fixed for all tenures with no reset clause).
8. PROCESING FEE: 0.75% of the loan amount sanctioned + applicable GST subject to minimum Rs.
1,000/- (non-refundable)
9. REPAYMENT: Overdraft, it is a running account with a tenor of maximum 30 months. Review
Charges will only be applicable for Overdraft Loan which will be Rs.1000/- + GST
10. PREPAYMENT PENALTY: No prepayment penalty

11. PENAL INTEREST RATE

i) Rs. 500.00 + applicable taxes for non-credit of EMI/ Instalment (s) on or before the due date ii) 2%
per month penal interest on overdue instalment for the overdue period.

12. DOCUMENTATION: i) Simplified Application form to be generated through online portal

ii) Loan Agreement – Loan against Shares (generated through LOS) iii) Arrangement letter
(generated through LOS.

13. COVERAGE: • Customer of any SBI Branch can apply for the loan. The processing and sanction of
loan will be done by a single nodal Branch i.e., Specialized Securities Finance Branch, Andheri East,
Mumbai - 400093 (Branch Code: 18225). The loan will in the Books of the nodal Branch.

14. PARAMETERS FOR ACCEPTANCE OF SHARES AS SECURITY:-

i. The equity shares offered as security should be fully paid. No advance will be granted against
partly paid shares / debentures.
ii. Preference shares will not be accepted as security.
iii. No advance will be granted against SBI shares, as the same is strictly prohibited under Section 20
(1) (a) of the Banking Regulation Act, 1949.
iv. The shares offered as security must be in Demat form.
v. The shares offered should be of a company listed in CNX 500, except those of SBI. vi. Stocks only
in "EQ" series should be accepted

15. PROCESS FLOW FOR APPLICANTS

a) Customer will apply online for Loan against Shares (LAS) facility through:
(i) Our website www.sbi.co.in. Path: Personal -> Loans - > Loans against Securities-> Loan against
Shares.
(ii) SBI Internet Banking www.online.sbi.com The link ‘Loan against Shares’ is available on the home
page of Internet Banking .

LOAN AGAINST MUTUAL FUND UNITS (Incl DAF)

After launch of e2e digital LAMFU journey through INB & YONO on 14.06.2024 & 29.06.2024, new
business opportunities have emerged to increase Secured Loan portfolio.

1. PURPOSE: Advances against the units will be purpose-oriented, considering the credit needs of
the investor.
They may be granted to individuals to meet contingencies and personal needs but not for
subscribing to or boosting up the sales of another scheme of mutual funds, for the purchase of
shares / debentures / bonds or speculative purposes.
The scheme covers short term advances to individuals against the collateral security of demat units
of open-ended schemes of SBI Funds Management Ltd. (SBIFM), a subsidiary of SBI.
Loans against the units of Tax Savings Funds should be given only after the lock in period of 3 years
has expired.

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2. ELIGIBILITY:

Individual(s) over 18 years of age subject to following conditions: Single/Joint holder(s) of SBI
MF/DAF • The Investor(s) should have an SB account of SBI.
• The SB account and MF should have identical name and PAN number.
• PAN is mandatory. NRIs are not eligible for LAMFU/DAF.

TAT of loan processing in digital mode on an average is below 5 minutes. Loan application facility is
available to customers on 24X7 basis.
Loan Against Mutual Funds Unit has been made available at YONO/INB pre-login /web-based
journey for availing this loan in Real Time.
Customers can start digital journey through link available at pre-login page of INB by entering
Aadhar or INB credential.
This loan will be processed on real time basis upon successful digital validations of customer’s
credentials and lien marking by CAMS.

Rate of Interest 110 bps above 1year MCLR 8.85% (Effective rate 9.95%)

Processing Fee:Fixed lumpsum amount: Rs 1,000 (including GST)

3. AUTHORIZED BRANCHES All Branches

4. LOAN LIMIT Minimum: Rs 25000 Maximum:

(a) Equity/DAF/ Hybrid/ ETF MF: Physical/Electronic: Rs 10,00,000/- Demat: Rs/ 20,00,000/-
(Maximum permissible loan amount as per RBI)
(b) Debt/ FMP MF: Rs 5, 00, 00,000/-
• (Maximum limit is inclusive of all loans borrowed by the applicant/borrower against Shares &
Securities held by them).
• (In case of Debt/ FMP MF, the deviation for Max Loan Limit will be available to Circle CGM as per
Loan Policy Guidelines

6. MARGIN (a) Equity/DAF/ Hybrid/ ETF MF: 50%

(b) Debt/ FMP MF: 15%

8. REPAYMENT • Overdraft (Auto Renewal/Review every year) in case of LAMFU.

• Remaining maturity period of the DAF/FMP/Debt Funds.
• Interest to be serviced monthly and principal to be serviced on or before the end of the loan
tenure.
1. FACILITY TYPE Overdraft (Cheque book, Debit-cum-ATM card, INB facility can be extended) .

2. DELEGATION OF FINANCIAL POWERSAs per the Scheme of Delegation of Financial Powers

for Term Loans to Individuals.
3. SECURITY Lien on units of MF/DAF. A. For Equity/ DAF/Hybrid/ ETF MF.
DEMAT/Physical/Electronic Units of Open Ended as well as Close Ended Schemes of SBI MF.
• Loan against Tax Savings Fund as well as Closed Ended Scheme to be given only after the lock in
period has expired.
• Loans to be sanctioned only against Units of MF Equity/DAF which are in Electronic/DEMAT form. •
Loan should not be sanctioned against the security of Gold ETF. B. For Debt/ FMP MF • Units of
Open Ended as well as Close Ended Schemes of SBI MF (Both in DEMAT & NON-DEMAT).

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Note: Loan against Tax Savings Fund as well as Closed Ended Scheme to be given only after the lock
in period has expired.
16. DISBURSEMENT Cheque book, Debit-cum-ATM card, INB facility can be extended. Loan account
shall be opened under the same CIF under which the primary SB account of the customer has been
opened.
17. PERODICITY OF REVIEW Yearly
18.REVIEW/RENEWAL CHARGESRs 1000 + applicable GST
19.PRE – PAYMENT CHARGES NIL
20.PENAL INTEREST As applicable in existing Overdraft facility.
21.NON- SERVING OF INTEREST FOR 3 MONTHS Branch after following the due procedure for calling
up the customer, will initiate process for liquidation of securities & transfer of proceedings to loan
A/c.
22.NPA TRACKING / IRAC NORMS NPA-tracking for running OD A/c will be similar to Cash Credit
account (exclusive of Stock Statement).

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Asset Product – Personal Loan

Xpress Credit Loans -General Instructions

Eligibility Criteria

Employees Salaried Govt./Defense employees (CGSP, SGSP, DSP, CAPSP, ICGSP, RSP,
PSP) with a minimum service of 6 months which should be validated through
Salary account statement or Salary Package Corporate Customers with a
minimum of 1-year length of Service
Companies (D-rated) will not be eligible under the Scheme. (List of D rated
companies have been placed on our PBBU website and is updated at
Quarterly intervals).
For new Salary Package Accounts, Bank Account showing regular salary
credits to be ensured (including last one through our Bank). • Should comply
with Bank’s KYC norms
CIC Scores Applicants with the following minimum CIC score will be eligible under the
scheme:
i)Govt. Salary Package (DSP, ICGSP, PMSP, RSP, PSP, SGSP, CGSP etc.): CIC
Score of 650 and above. (if CIC other than CIBIL, then min 600 and above).
(ii) Corporate Salary Package (CSP): CIC score of 670 and above (if CIC other
than CIBIL then min 650 and above).
(iii) Applicants with NIL Credit history (-1 score) for Govt. as well as CSP
accounts may be considered in respect of
(a) Govt. salary package customers (DSP, ICGSP, PMSP, RSP, PSP, SGSP, CGSP
etc.),
(b) VIP flagged salary accounts.
(c) Gold & above variant Corporate Salary package accounts which are linked
to respective Employer Codes provided Verifiable regular salary credits
during the last 6 months.
CIC scores Applicants with the following minimum CIC score will be eligible under the
scheme:
i)Govt. Salary Package (DSP, ICGSP, PMSP, RSP, PSP, SGSP, CGSP etc.): CIC
Score of 650 and above. (if CIC other than CIBIL, then min 600 and above).
(ii) Corporate Salary Package (CSP):
CIC score of 670 and above (if CIC other than CIBIL then min 650 and above).
(iii) Applicants with NIL Credit history (-1 score) for Govt. as well as CSP
accounts may be considered in respect of (a) Govt. salary package customers
(DSP, ICGSP, PMSP, RSP, PSP, SGSP, CGSP etc.),
(b) VIP flagged salary accounts.
(c) Gold & above variant Corporate Salary package accounts which are linked
to respective Employer Codes provided Verifiable regular salary credits
during the last 6 months.
Particulars Primary CIC Secondary CIC No. of CIC
Report
Loan up to Rs. 4 CIBIL 2 NA
lacs
Loan above Rs. 4 CIBIL Experian 1
lacs
If NO HIT under CRIF Highmark CRIF Highmark Equifax 2
(2) above

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Minimum Net Minimum Net Monthly Income (NMI) of the customer should be Rs. 25,000/-
Monthly Income to be eligible for Xpress Credit. No loan to be offered to customers having
NMI < Rs. 25,000/- under any Xpress Credit variant.
Repayment Maximum 72 months or residual service period whichever is less. Should be
repaid by the age of 60 years.
Loan Amount Minimum: - Term Loan:- Rs.100000/-, Maximum: - Rs. 30 Lacs. Subject to 24
times of NMI & Subject to EMI/NMI ratio.
Processing Fees 1.50% of Loan Amount subject to minimum Rs 1000/- and maximum Rs
15000/- plus GST.
*: 100% Waiver for DSP/CAPSP/ICGSP Customers. The concession is valid up
to 31.01.2025 and is subject to review/modification of the respective
products from time to time.
*50% concession to (RSP/PSP/CGSP/SGSP) This concession is valid up to
31.01.2025 and is subject to review/ modifications from time to time.
Provision for 2nd Any time after availing first loan subject to overall satisfactory track record
Loan and EMI/NMI ratio <= 50%/ 55% (as applicable).
• There cannot be more than 2 Xpress Credit Loans (including all variants)
in one CIF.
In case 3rd loan account is being opened by any branch as limit
enhancement, old loan account(s) should be mandatorily closed on the same
day.
Interest Rate ROI is linked to 2-year MCLR and fixed for entire loan tenure with no reset.
Concession in Interest rate.
Criteria Concession Offered Criteria Concession Offered
Loan Amount >=Rs. 10 lacs 50 bps in Rate of Interest
Platinum Salary Package Customer 50 bps in Rate of Interest `
Central Public Sector Enterprises 50 bps in Rate of Interest `
(CPSEs) considered under ‘RATNA’
status

No further concession is permitted under the Scheme

Penal Interest @ 2% pm over and above the applicable interest rate on then overdue
amount for the period of default.
Sanctioning of Loan Xpress Credit loan applications falling into any of the following “Exception
Cases” should be mandatorily sent to CPC for sanction.
i)Any change in SB/ Salary package product code in last 6 months,
ii. Any change in KYC details in last 6 months,
iii. Any change in branch code in last 6 months,
iv. Salary account less than 6 months old,
v. New-To-Credit (NTC) customers,
vi. Cases where Pre-Sanction Survey (PSS) is mandatory,
vii. Any amendment in salary values fetched by Perfios in RLMS (including
scenarios where no value is fetched by Perfios),
viii. Cases beyond the delegation of financial powers of the branch.

Exception case i.: Any change in SB/ Salary package product code in last 6
months
Revised Norms Risk Mitigation
PSS criteria to be waived for Branch to share the documentary
applications wherein this evidence for ascertaining the employment
“Exception case” is & salary details of the customer, with CPC.

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generated in RLMS .CPC to download employment & salary

documents from document module, verify
that correct details are seeded in CBS and
process the proposal.

Dealing of exception ii) . Any change in KYC details in last 6 months

cases and risk Revised Norms Risk Mitigation
mitigation PSS criteria to be waived for Branch to share either e-KYC document of
applications in RLMS, the customer or PSS report along with
wherein branch has fresh KYC documents obtained from
conducted e-KYC of the customer with the CPC.
customer CPC to verify KYC shared by branch.
iv)
iv) Any change in branch code in last 6 months

Revised Norms Risk Mitigation

PSS criteria to be waived for Branch to obtain any document(s) like
applications in RLMS, wherein OVDs, Transfer Letter, Leave
branch has conducted e-KYC of Certificate, Discharge Certificate, etc.
the customer. from the customer to ascertain the
reason for customer to change his/ her
home branch with the Bank. CPC to
verify the genuineness of the case
based upon document(s) shared by the
branch.

v) Salary account less than 6 months old.

Revised Norms Risk Mitigation
PSS to be conducted Branch to conduct PSS of such customers
for these customers, who have recently opened/ converted
as per extant norms. their salary package account with the Bank
within last 6 months. Branch to also obtain
salary account statement of another Bank
and verify salary slips for past 6 months.

Vi) New-To-Credit (NTC) customers

Revised Norms Risk Mitigation
PSS criteria to be waived for certain Respective circle to prepare the
branches (viz. captive/ campus employer wise list of captive/
branches) who are sourcing loans of campus branches of Defense &
Defense and Police customers Police customers, who will be
having Nil credit history [i.e. Newto- waived from conducting PSS of
Credit (NTC)]. Defense & Police customers having
Nil credit history [i.e. New-toCredit
(NTC)] . Branch to share the e-KYC
document with CPC for Defense &
Police customers applying for loan
in other than captive/ campus
branch and download a6 month
salary slip of the customer Branch
official to record the date and time

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of download under their signature

that salary slip has been
downloaded in front of them

vi.: Cases where Pre-Sanction Survey (PSS) is mandatory, as a part of

product feature
Revised Norms Risk Mitigation
PSS to be conducted for customers, Action at Branch: Pre-Sanction
as per extant norms. Survey to be conducted for work
and/ or residence and to be
uploaded.

vii). Any amendment in salary values fetched by Perfios in RLMS (including

scenarios where no value is fetched by Perfios.
Revised Norms Risk Mitigation
While PSS is not stipulated Branch to enter the actual salary credits in
for this Exception case, RLMS while sourcing the proposal, by
additional due diligence to ascertaining the same from 6 months’ salary
be implemented at CPC for slips & account statement.
cross verification of such CPC to verify the salary particulars from
cases salary slips & account statement generated
from CBS as well as verify the source of
credit in account statement

All such loan applications of “Exception Cases” should be mandatorily sent

to RBO/ RACC/ RCC/ ZCC for sanction (as per delegation of financial
powers) in RLMS, till further instructions.

Post sanction activities viz. documentation, disbursement and monitoring

will continue to be handled at sourcing branch itself.

No deviation to be permitted in this case.

No Xpress Credit loan to be offered in case salary account of the customer is
not maintained/ shifted in our Bank.
The Competent Authority has now approved following modifications under
Xpress Credit loans:
Branches of RBO which are already linked with Retail CPC (RACPC/
RASMECC) : will submit their proposal to linked CPC (RACPC/ RASMECC) only.

Branches of RBO, where no CPC (RACPC/ RASMECC) is linked or situated :

DGM (B&O) to identify suitable CPC (RACPC/ RASMECC) under same AO to
handle exception cases received from these branches, irrespective of
whether these branches are linked with mini RACPC/ RACC.

• Obtention of latest ITR/ Form 16 is mandatory for all customers.

Pre-Sanction Survey Residence verification under PSS is waived for Defense sector customers,
(PSS) Government sector customers and customers working with whitelisted
Corporates (i.e., Top Corporates of the country).
• e-KYC of all customers working with non-whitelisted Corporates to be
mandatorily conducted and Residence verification under PSS is waived for
these customers if address mentioned in e-KYC is same as present address of

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the applicant, else Residence verification to be conducted by branch as per

extant guidelines.
• Office/ Workplace verification under PSS is waived for Defense sector
customers, Government sector customers and customers working with
whitelisted Corporates (i.e., Top Corporates of the country), subject to
submission of valid & verifiable documents like Service Certificate, Canteen
ID, salary slips downloaded from HRMS/ Salary slip download portal in front
of branch official.
• PSS to be conducted for these customers by authorised branches, only if
these customers fall into any exception category as per details mentioned.

CPC should arrange for random PSS of 5% of the Xpress Credit loan
proposals, through respective RBO of the branch (AO only in case of AGM
headed branch.
Post Sanction The following documents generated from RLMS will be executed post
Process sanction: -
a) Arrangement Letter: XP-2
b) Loan Agreement: XP-3
c) SI/NACH Mandate aligned with Salary date
d) Loans with check-off Documents (if applicable) as per Annexure – (XP-4),
(XP-5 or (XP-6)
e) Undertaking from Borrower regarding other deductions –Annexure XP- 8
Repayments : I) Through SI and SI date to be set aligning with the Salary date.
II) No Blank Cheque/PDC to be obtained.
III) The remedies for failed SI are available under Section 25 of PSG
Act 2007 (similar to Sec 138 of NI Act) for the electronic payment
system.

RMP (RISK MITIGATED PRODUCT) XPRESS CREDIT SCHEME

Employers: Same as the regular Xpress Credit Loans.

1) Certain categories of employees e.g., School teachers, police personnel, state government
employees etc. who get salaries irregularly either because of financial stringencies of the concerned
State Governments (employer) or transfers / unauthorized absence of such categories of personnel
are to be considered under RMP Xpress.
2) Loans to employees of Loss-making State PSUs dealing with utility services like electricity,
transport, water supply, etc. will be considered under RMP, with the approval of DMD (RB) at the
Corporate Centre.
3) Loans to teaching and non-teaching staff of Private Schools and colleges.
4) For customers having one instance of overdue monthly payment in the last 6 months with DPD
more than 60 days & up to 89 days, Xpress Credit- RMP product may be offered and there should be
no overdue at the time of processing of the loan.
A sum equivalent to 3 EMIs are recovered upfront and parked in a special Current Account (Debt
Reserve Current (DRC) A/C) linked to the Loan Account.
The balance in the DRC is utilized through auto sweep once the loan account slips to RG-3 and the
interest in the loan account is calculated and applied by netting of balances in the Loan A/C and DRC
Account.
The eligibility norms for Teaching and non teaching such employees for loans under RMP Xpress
credit are as under:
▪ These Private Schools and Colleges should be at least 15 years old and should be affiliated to CBSE/
ICSE/UGC/AICTE etc.

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▪ The Private Schools/ Colleges must have 5 years of banking relationship with us. .
▪ The number of employees (teaching and non-teaching) of such Institutes should not be less than
50.

XPRESS ELITE SCHEME

Purpose For any legitimate personal purpose

Eligibiltiy EMPLOYERS As applicable under Xpress Credit scheme.
EMPLOYEES Permanent Employees/ Officials with NMI of Rs.1.00 lakh &
above.
*Should comply with Bank’s KYC norms• (There is no compulsory
requirement of him/ her maintaining salary account with the bank)
*Minimum CIC Score (TU-CIBIL) of 650 for Govt. employees and 670 for
corporate employees category to avail loan under Xpress Elite.
In addition, applicants having NIL Credit history (i.e., CIBIL Score -1)
provided verifiable regular salary credits during the last 6 months will be
eligible
Quantum of Loan 24 Months NMI of the employee.
Minimum Loan Amount: Rs. 3,00,000
Maximum Loan amount: Rs. 35,00,000 subject to 24 times NMI &
EMI/NMI as stipulated
EMI/NMI Platinum customers with NMI <= Rs. 2 lakhs: EMI/ NMI ratio <= 60%
Platinum customers with NMI > Rs. 2 lakhs: EMI/ NMI ratio <= 65% (New
Processing Fee 1.50% of Loan Amount subject to minimum Rs 1000/- and maximum Rs
15000/-, plus GST.
• Waiver in concession to existing customers as applicable under Xpress
Credit scheme
• For Customers not maintaining salary account with the bank:
Processing Fee to be recovered upfront by Cheque/ DD
Provision for Second As applicable for xpress credit scheme of the Bank.
Loan
Repayment Maximum 72 months or residual service period whichever is less.
Others The extant instructions applicable to Xpress Credit Loans viz. RSM,
processing fee, margin, penal interest, foreclosure penalty,
documentation, pre sanction survey, post sanction formalities etc., will
also be applicable to Loans sanctioned under “XPRESS elite facility.

XPRESS FLEXI SCHEME

Eligibility *Diamond Salary Package customers (i.e. NMI: Rs. 50000 to Rs. 1 lakh)
• Platinum Salary Package customers (i.e. NMI> Rs. 1 lakh)
• Other eligibility criteria for Diamond Salary Package customers as applicable
under Xpress Credit scheme and for Platinum Salary Package customers as per
Xpress Elite scheme
Loan Amount Diamond Salary Package customers:
• Minimum: Rs. 1 lakh
• Maximum: Rs. 20 lakhs subject to EMI/NMI <=55% & 24 times NMI (whichever is
lower) .
Platinum Salary Package customers:
• Minimum: Rs. 1 lakh
• Maximum: Rs. 25 lakhs subject to 24 times NMI and EMI/NMI <=60% (For NMI Rs

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1 lac – Rs 2 lac) OR EMI/ NMI <= 65% (For NMI > Rs 2 lac), whichever is lower
Type of Loan Overdraft facility
Disbursal & DP fixed in the OD a/c to correspond to borrower’s eligibility.
Drawing Outstanding should not exceed DP.
power In OD account, Drawing Power (DP) to be reduced by principal component of EMI
every month. This reduced DP will appear in the ‘Limit’ field.
Rate of 0.25% higher than RoI applicable under Xpress Credit for Diamond Salary Package
Interest customers and Xpress Elite for Platinum Salary package customers.

Repayment • Upto 72 months

Period (SI will not be stopped in OD accounts (including loan accounts with credit balance)
due to excess deposit of fund by borrowers over and above the stipulated EMIs).
Conversion of Banches can provide “XPRESS FLEXI” OD loan product to existing Xpress Credit loan
existing borrowers by closing their existing Xpress Credit Term Loan product in CBS, if the
Xpress Credit customer is otherwise eligible under the product. Only one live Overdraft product
Term Loan under Xpress Credit is allowed under one CIF.
The extant instructions applicable to Xpress Credit Loans viz. RSM, processing fee,
margin, penal interest, foreclosure penalty, documentation, pre sanction survey,
post sanction formalities etc., will also be applicable to Loans sanctioned under
“XPRESS FLEXI” OD facility.

XPRESS CREDIT TO NON-PERMANENT EMPLOYEES (NPEs)

SCHEME Product since withdrawn wef 21.04.2022

XPRESS LITE SCHEME

Xpress Lite variant is withdrawn with immediate effect

Reference Sl.No.: 546/2024 - 25 Circular No.: NBG/PBU/PL-XPRESS/18/2024 - 25 Date: Thu 22 Aug
2024.

SBI QUICK PERSONAL LOAN SCHEME UNDER ONLINE PSB LOANS LTD (OPL) PORTAL THROUGH
CONTACTLESS LENDING PLATFORM (CLP)

Purpose Any personal purpose other than speculative purpose

Eligible Employer • Central & State Government
• Quasi Government
• Central & State PSUs
• Corporates (Private & Public Ltd.)
• Educational Institutions of National Repute (Institutions covered under
SBI Scholar Loan Scheme & Whitelisted Institutes under Student Loan
Scheme)
Eligible Employee As applicable under Xpress Credit scheme and have to apply from CLP site
(www.psbloansin59minutes.com
Net Monthly Income Minimum Rs.15,000/-
Loan Amount Minimum: Rs.24,000/- Maximum: Rs.20,00,000/- subject to 24 times NMI
EMI/ NMI <= 50%
Age 21 – 58 years

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Repayment Period Maximum 72 months or residual service period whichever is less

Repayment Mode • Salary A/c with our Bank: SI
• Salary A/c with other Bank: NACH/ ECS
Processing Fee As per Xpress credit scheme.
CIC Score (CIBIL) Minimum 670 (CIBIL Credit Vision Score)
Rate of Interest (With Please refer to the latest interest rate circular. (for customer not
no reset) maintaining salary account with SBI 0.25% higher than Xpress Credit
Scheme for all Brackets)
Pre-Payment/ Closure 3% of the prepaid amount, as applicable under Xpress Credit Scheme
Charges
Pre-Sanction Survey As applicable for Xpress credit scheme.
(PSS)
Turn-around Time (TAT) Customers with no requirement of PSS: 1 working day
 Other customers: 2-3 working days

All other terms and conditions will be same as applicable to the Xpress
Credit Scheme.

XPRESS CREDIT- IT EMPLOYEES SCHEME (WITHDRAWN) XPRESS CREDIT – IT EMPLOYEES

It is a variant of Xpress Credit scheme for employees working in IT/ITeS companies. The product was
launched on 20.08.2016 and has since been withdrawn w.e.f. 17.03.2020. IT employees can avail
Personal loan under our regular Xpress Credit scheme, Xpress Elite scheme or SBI Quick Personal
Loan through CLP as per eligibility.

REAL TIME XPRESS CREDIT

Real Time Xpress Credit (RTXC) and Real Time Xpress Credit –Elite (RTXC-Elite).

These two products will be available through YONO App (only on Android platform at present) and
will be a real time system based processing and sanctioning process based on digital validations, real
time income calculation, real time CIC checks, real time eligibility calculation, real time Digital
Document Execution (DDE) and real time disbursement. In the entire process, no manual
processing/sanctioning will be involved
The backend system will decide and provide two types of flow to the customer:

i)RTXC -DDE flow (For customers whose home Branch is in a DDE enabled State/ UT for Xpress Credit
loans)
ii. RTXC Non-DDE flow (for all other customers who will be required to visit Branch once for
documentation).
In addition to the extant norms, account opened under Rhodium, Platinum & Diamond variant of
Corporate Salary Package (CSP) product code will also be eligible for RTXC.

RTXC will be offered to Joint account Salary Package holders (with mode of operation: E/S or F/S
only) as well, subject to following stipulations:

Loan to be offered in the name of Primary CIF

 customer, who should be salaried customer. Name of Primary CIF customer to be displayed

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 during RTXC journey on YONO and an undertaking to be obtained that he/ she is the customer
whose monthly salary is being credited in the Joint A/c. In case the customer declares on YONO
 otherwise, journey to be stopped and customer to be advised to visit branch for necessary
updation of CIF

Digital Document Execution (DDE) facility:

RTXC/RTXC-Elite has been identified as first digital loan product for the pilot launch of the DDE
process in Bank.
DDE process involves real time execution of loan documents through e-stamping and e-signature, for
which customers, at present, are required to visit the Branch.

Key Features of the Process:

• Paperless execution of loan agreements/contracts (Digitally Authenticated Contracts as per IT Act).
Digitization of entire loan documentation processes viz. loan application, loan agreements, stamping
and signature.
• Aadhaar OTP based e-sign.
• Secure, Safe, Next-Gen Security Measures and Robust System.
• Step-by-Step Guided e-mail and SMS Communication System.
• Doing away with the physical storage of loan documents.
• MIS & Audit trail will be available in case of requirement.
• Enabling Instant loan disbursement.

Advantages of the New Process for Xpress Credit: a. To the Customer:

• Real Time sanction of loan.
• No need to fill in the manual Application.
• Customer input required in 8 fields only
• Eight screen journey for the customer
• Speedy Disbursement after documentation.
• Resultant Enhanced Customer Experience.

b. To the Branch:
• No processing, No sanctioning.
• Single click disbursement after documentation (no separate processes to be initiated for loan
account creation, SI set up, etc.).
• Basic enquiries like Eligibility, Loan Amount, EMI, Tenure, etc. handled digitally, thus reducing staff
engagement. • Scrutiny of application and its validation through credit engine.
• Increase in overall efficiency thus portraying a better image.

c. To the Bank:
• Customer delight resulting in increased business.
• Effective utilisation of available staff by eliminating repetitive work like attending basic queries,
RLMS data entry, etc. which can be handled by digital processes.
• Healthy addition to Xpress Credit portfolio.

XPRESS POWER SCHEME (WITHDRAWN)

With introduction of a similar new product “SBI Quick Personal Loan” through digital platform with
effect from 01.09.2019, the Scheme stands withdrawn w.e.f. 11.12.2019.

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NeSL DIGITAL DOCUMENT EXECUTION (DDE) FACILITY AT DDE ENABLED STATES FOR XPRESS
CREDIT LOANS THROUGH RLMS/ YONO

1.NeSL is India’s first Information Utility and is registered with the Insolvency and Bankruptcy Board
of India (IBBI) under the aegis of the Insolvency and Bankruptcy Code, 2016 (IBC).
Digital Document Execution (DDE) facility being offered by NeSL involves real time execution of loan
documents through e-signature and e-stamping.

2.Key Features of the DDE Process:

Paperless execution of loan agreements/ contracts (Digitally Authenticated Contracts as per IT Act).
• Aadhaar OTP based e-sign of customer.
• Step-by-Step Guided e-mail and SMS Communication System.
• Online Retrieval of data by NCLT/DRT/Other authorized agencies.
• Start-to-end Workflow based on APIs

At present, DDE facility is live under Xpress Credit loans through RLMS & under Real-Time Xpress
Credit (RTXC) through YONO at all branches in 22 States.

3.Branch Role in RLMS post successful DDE by Customer.

Once DDE documents executed by customer are received from NeSL, RLMS will automatically affix
identified Bank officer’s Digital Signature on the loan documents.
RLMS user to view & download the digitally signed documents and verify the details along with
proper affixing of digital signature of both customer and bank official
✓ RLMS User to proceed with Account Creation and Disbursement of the loan in RLMS

4. Modifications approved under the existing branch process

Wet signature of customer on the physical document to be replaced with an Aadhar OTP based e-
Signature on digitally generated documents.
• Physical stamp paper to be replaced with e-stamp paper.
• An official (not below the rank of Chief Manager) has been identified in PBBU, CC whose digital
signature shall be applied to the loan documents on behalf of the Bank. The role of identified Official
at CC will be limited to providing consent for affixing DSC on the loan document from backend.
• Requirement of physical storage of loan documents to be replaced with e -documents generated
real time and stored/placed at a central server (eDMS).

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Pension loan scheme

Branches maintaining pension accounts and paying pension to the retired employees of the Central,
State Governments., SBI and PSUs whose Pension Payment Orders (PPOs) are maintained with our
Bank as well as maintained at Treasury/PSU/SPARSH can extend financial assistance to them to meet
their personal expenses, on fulfilling the eligibility criteria.

Pension Loan Variants

SCHEME SBI PENSION LOAN JAI JAWAN PENSION LOAN

Purpose for any legitimate personal purpose for any legitimate personal
purpose
Facility Demand Loan Term Loan
Eligibility (A)Pensioners: (a) All Central, State Pensioners of Armed Forces,
Government pensioners, and SBI Pensioners including Army, Navy and Air
whose pension accounts are with us, and their Force, Paramilitary Forces
PPOs are maintained by Centralized Pension (CRPF, CISF, BSF, ITBP, etc.),
Processing Centre (CPPC) of SBI. Coast Guards, Rashtriya Rifles
In addition to the extant norms, Defense and Assam Rifles whose
Regular Pensioners whose PPOs are migrated Pension Payment Order is with
to PCDA, Allahabad, under SPARSH will also be us.
included In addition to the extant norms,
(b) Pensioners whose pensions are disbursed such Defense Regular
by Govt. Treasuries by cheques drawn in favour Pensioners whose PPOs are
of our branches as per mandate of the migrated to PCDA, Allahabad,
pensioner are also eligible subject to the under SPARSH will also be
following conditions: included.
(i) The original Pension Payment Order (PPO)
remains in the custody of the treasury and the The non-home Branch before
pensioner gives a mandate to the Treasury for processing the loan should
payment of pension through a particular invariably login to the Pension
branch of a Bank. Software application to cross
(ii) The pensioner concerned furnishes an check the Pensioner’s
irrevocable undertaking that he will not amend credentials as given in the PPO,
his mandate to the Treasury to pay his pension a copy of which is received
from the branch, during the currency of a loan from the Pensioner before
availed by him from SBI. sanction of loan. The operating
(iii) The Treasury concerned consents in writing units should only disburse the
that it will not accept any request from the loan to the pensioner’s pension
pensioner to transfer his pension payment to account after tallying from the
any other bank/ Branch till a NOC is issued by Pension Software application.
the Bank.
The (iii) condition mentioned above is waived The loan sanctioning branch
with the following condition. will send an intimation letter
i)CIBIL score of pensioners to be more than 658 (as per Annexure-III) to PCDA,
(-1 may be considered in case of no credit Prayagraj informing about the
history). loan availed by Defense
ii) RSM Score in LOS to be more than 45 Pensioner and requesting not
(Grade 1 to Grade 6), as against the clear to permit shifting of Pension
sanction of more than 40 (Grade 1 to Grade 7). Account of the pensioner to
A premium of 50 bps to be charged over the any other Bank/Branch of SBI

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applicable card rate is applicable during the tenor of the said

Age up to 76 years at the time of loan Pension Loan/ till the said loan
sanction is fully repaid.
Security Primary Security: - NIL
Collateral Security: - NIL
Third Party Guarantee Regular Pensioner having PPO with our Bank: NIL
Other Regular Pensioners: Third party guarantee (TPG) of the spouse eligible for
family pension.
In the absence of the spouse, TPG of any other family member or a third party
worth the loan amount.

All Family Pensioners: Third party guarantee of a person who has been
maintaining a satisfactorily conducted account with the Bank; preferably of the
son/daughter of the family pensioner.
QUANTUM OF Pensioners: Minimum Rs.25,000/= There is no minimum age bar under the
LOAN Maximum of 18 months’ pension with a scheme.
ceiling of Rs.20.00 lacs (except in The Maximum age at the time of
PAPNL and family pension) subject to availment of loan should be 76 years
EMI/NMP (Net Monthly Pension) not to Minimum Rs.25,000/=
exceed 50%. 1. Maximum of 36 months’ pension
Family pensioners: Minimum with a ceiling of Rs.14.00 lacs for
Rs.25,000/= Maximum of 18 months’ pensioners up to 56Years.
pension with a ceiling of Rs.5.00 lacs 2. Maximum of 18 months’ pension
with a ceiling of Rs.14.00 lacs for above
56 years of age.
EMI/NMI Regular Pensioners 50% 50.00%
Family Pensioners 33%
PERIOD/R Regular & Family Pensioners: maximum Maximum 72 months, subject to full
EPAYMEN T 72 months, subject to full repayment of repayment of loan by 78 years of age.
loan by 78 years of age
Processing Fee 1. SBI Pensioners & Defence No processing fee to be charged.
Pensioners: No processing fee.
2. Other Regular Pensioners: flat 1.00%
+ GST (minimum of Rs.1000/- and
Maximum Rs.10000 + GST)
3. Family pensioners: 0.50%+ GST
(minimum of Rs.500/- and maximum
Rs. 2500+ GST)
Provision of 2nd Any time after disbursement of the 1st Same as Pension Loan scheme.
Loan (Top up loan provided the 1st loan has been
Loan) satisfactorily conducted and is regular
at the time of sanction of 2nd Loan
subject to EMI/NMI ratio of 50% for
Pensioner and 33% for the Family
Pensioner.
The sum total of outstanding in the 1st
loan and limit of 2nd loan in no case
should exceed the pensioner’s
entitlement at the time of availment of
2nd loan.
Customer may opt for a second loan or

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may close the existing loan and open a

new loan with enhanced limit but there
should not be more than 2 Pension
Loans at a time against one PPO.
Pre payment Any prepayment of EMIs in full or in
Charges part and closure of account before the
end of term will attract prepayment
charges of 2% on prepaid amount.
No prepayment/ foreclosure charges
will be applicable if the account is
closed from the proceeds of a new loan
account opened under the same
scheme.

Pension loan to PSU Pensioners

Keeping in view the availability of abundant untapped potential of quality business from retired
employees from Central/State PSUs (eligible under Xpress Credit Scheme) where PPOs are
maintained by the PSUs themselves. RBI Pensioners, even though RBI is a corporate Body
established under the special act of Parliament of India RBI is to be considered as an approved PSU
under the PSU Pension Loan Scheme. Accordingly, our Pension Loan scheme has been modified as
under.

Particulars Norms
Pensioners of PSUs whose Pensioners of all such PSUs will be extended Pension Loans which are
PPOs are maintained by already covered under our Xpress Credit scheme, subject to approval
PSU themselves of PSU by CGM (Circle).
• RBI is a Corporate Body established under special act of Parliament
of India, the competent authority has approved to add ‘Reserve Bank
of India’ as an approved PSU under the ‘PSU Pension Loan Scheme’ to
grant Pension Loans to its Pensioners.
In case of Loss-Making state PSU not covered under Xpress Credit
scheme & enough potential is available for Pension Loans, approval to
be obtained from DMD (RB).

All such loans will be sanctioned subject to following stipulations:

(a) RSM Score in LOS to be more than 45 (Grade 1 to Grade 6), as
against the clear sanction of more than 40 (Grade 1 to Grade 7).
(b) The pensioner concerned will furnish an irrevocable undertaking
that he will not amend his mandate to the PSU to pay his pension from
that branch, during the currency of a loan availed by him from SBI.

c) Regarding obtention of consent/undertaking from the PSU’s Pension

Disbursing Authority, there may be two scenarios

Scenario 1: In case, the PSU concerned consents in writing that it will

not accept any request from the pensioner to transfer his pension
payment to any other Bank/ Branch till a NOC is issued by our Bank/
Branch, the proposal to be treated at par with Treasury Pensioners
with NOC.
Applicable ROI to be 255 bps above 2-yr MCLR (with no reset).

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Scenario 2: In case the PSU does not give a written consent as

mentioned above, CIBIL score of pensioners should be more than 658
for consideration under the scheme (-1 may be considered in case of
no credit history) & a premium of 50 bps to be charged over the card
rate. Applicable ROI to be 305 bps above 2-yr MCLR (with no reset).
6. Details of such loan and the undertaking received from the
Pensioner is to be advised to concerned PSU invariably.
All other terms & conditions as stipulated under Pension Loan scheme will strictly be applicable

G. PENSION LOAN SCHEME TO PSU PENSIONERS, INCLUSION OF M/S TATA STEEL LTD (TSL) UNDER
ELIGIBILITY LIST & LOANS TO EMPLOYEES OF TSL RETIRED UNDER ESS/VRS AND COMPENSATED
WITH ANNUITY PAYMENTS UNDER THE SCHEME

M/s Tata Steel Limited (TSL) under the eligible list of PSU Pensioners in RLMS.
To extend Pension Loans to such employees who have opted for ESS and are eligible for receiving
fixed Annuity Payments “Masik Pratidan”, as per the following terms & conditions.

Parameters Details
Loan amount Minimum: Rs. 25,000 Maximum: Rs. 14 lakhs Subject to 18 times Net
Monthly Pension (NMP)
Age Up to 73 years of age or 2 years before the end date of the annuity,
whichever is earlier.
Repayments Up to 72 months (To be repaid by 75 years of age or at least 3 months
before the expiry of the annuity payment, whichever is earlier).
Security TPG of Spouse /Nominee/ Any family member for the loan Pensioner to
furnish irrevocable undertaking that he will not amend mandate to pay
pension from the branch during currency of loan (as per Annexure-I).
Undertaking from TSL to be mandatorily obtained that it will not accept any
request from the pensioner to transfer his pension payment to any other
Bank/ Branch and payment to spouse till an NOC is issued by our Bank/
Branch (as per Annexure-II).
RSM score Score ≥45 for all cases
All other terms & conditions shall remain same as applicable under our PSU
Pension Loan scheme

PENSION LOAN TO COAL MINES PROVIDENT FUND (CMPF) PENSIONERS:

Scheme Withdrawn wef 08.06.2022 (Circular no NBG/PBU/PL-PENSION/13/2022 -23 dated
08.06.2022

Pension Loans to the pensioners of CMPF, whose PPOs are not maintained with our CPPC, will be
extended under our existing “Pension Loan Scheme to PSU Pensioners” scheme as per extant
instructions under the Scheme.
In such cases, once the Pension loan is sanctioned by any branch to a CMPF pensioner, whose PPOs
are not maintained with our CPPC, the sanctioning branch will immediately send a request to
Dhanbad Branch (where PPOs of CMPF Pensioners are maintained) for noting in their Master Data
about availment of Pension Loan.

I. SBI PENSION LOAN SCHEME: PENSIONERS OF TREASURY

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To explore untapped business from retired employees from organisations (eligible under Xpress
Credit Scheme), where PPOs are maintained by respective Treasury departments, a product ‘Pension
Loan to Treasury Pensioners’ is in place .

Purpose Any personal purpose other than speculative purposes

Eligibility 1.Pensioners whose pension are disbursed by Govt. Treasuries by cheques drawn
in favor of our branches or through any other mode of credit to Pension account
as per mandate of the pensioner are also eligible subject to the following
conditions:
i. The original Pension Payment Order (PPO) remains in the custody of the
treasury and the pensioner gives a mandate to the Treasury for payment of
pension through a particular branch of a Bank.
ii. The pensioner concerned furnishes an irrevocable undertaking that he/she will
not amend his/her mandate to the Treasury to pay his/her pension from the
branch, during the currency of a loan availed by him/her from SBI.
iii. The Treasury concerned consents in writing that it will not accept any request
from the pensioner to transfer his/her pension payment to any other bank/
Branch till an NOC is issued by the Bank.
2. Obtention of consent in writing from treasury as mentioned at Point no iii
above can be waived with the following conditions:
a) CIBIL CV score of pensioners to be more than 658 (-1 may be considered in case
of no credit history).
b) RSM Score in RLMS to be ≥50 (Grade 1 to Grade 6), as against the clear
sanction of ≥45 (Grade 1 to Grade 7) per extant Score card applicable for Pension
Loan
c) Customer pays a premium of 50 bps over the applicable card rate. d) The other
two conditions as mentioned in Para 1 (I and II). i above, to be invariably adhered
to.
Documentation Where the original Pension payment Order remains in the custody of the
Treasury and the pensioners gives a mandate to the Treasury for payment of
pension through a particular branch of a bank, the following additional
documents needs to be obtained:
An Irrevocable undertaking from the Pensioner concerned that he will not
amend his mandate to the Treasury to pay his pension from the branch, during
the currency of a loan availed by him from SBI.
A consent in writing from the Treasury concerned that it will not accept any
request from the pensioner to transfer his pension account to any other bank/
branch till NOC is issued by the Bank
All other terms & conditions as stipulated under SBI Pension Loan scheme will
strictly be applicable to loans under this scheme.

INSTA PENSION LOAN SCHEME THROUGH YONO/ RINB:

Scheme Withdrawn wef 01.04.2024 (Circular no NBG/PBU/PL-PERLOANS/37/2023 -24 dated
27.03.2024) The Product was launched through YONO on 10.01.2020 for providing top-up loans up
to Rs. 2.80 lakhs (20% of existing Pension Loan limit) through YONO to existing Pension Loan
borrowers who fulfil various business rules under the product. The product was available on Internet
Banking (RINB) as well . The product now stand withdrawn with effective from 01.04.2024

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