State Bank of India

SBI
SARAL

State Bank of India

PURPOSE
General Purpose Loan for any Legitimate Purpose
e.g :
To meet sudden unanticipated needs of persons
Without any stipulation about end use of funds.
Expenses for domestic or foreign travel,
Medical treatment of self or a family member

State Bank of India

PURPOSE

Meeting any financial liability, such as:

marriage of son/ daughter,
defraying educational expenses of wards,

meeting margins for purchase of assets etc.

State Bank of India

ELIGIBILITY

Salaried individuals of good quality Corporate,

who are not eligible under Xpress Credit

Employees should have minimum 1 years length

of service.
Should have sufficient cash flows to repay the
loan from salary (in the case of employees) or
regular income (in case of others), as evidenced
by 6 months salary slips/ IT returns of 2 years

State Bank of India

ELIGIBILITY (continued)
The applicant should submit:
proof of residence and proof of identity to satisfy KYC
norms.

6 months satisfactory statement of bank account at

any bank.
last 3 months credit card statement pertaining to any
bank, if the customer is a credit card holder.

State Bank of India

EMI/NMI Ratio
EMI/NMI Ratio

at least 50%.

MINIMUM INCOME
Minimum net monthly income (NMI) Rs.5000/after all deductions (including income tax).
Income of spouse can be considered if the
loan is availed jointly or the spouse
guarantees the loan.

State Bank of India

LOAN AMOUNT
Minimum :
Rs 24,000/- in metro and urban centres
Rs 10,000/- in rural/semi urban centres

Maximum :
12 months NMI for salaried individuals
1 years NAI in case of Professionals & Self
Employed
Ceiling of Rs.10 lacs in all centres, subject to
credit score of 50 or more.

State Bank of India

SECURITY
The loan is clean in nature and security should not be
taken.
A borrower who is able to provide security, will be
financed under the relevant scheme

TYPE OF LOAN:

Term Loan.

State Bank of India

REPAYMENT
Repayable in 6 to 48 Equated Monthly Installments
If prepaid before 6 months, a prepayment service charge
of 1% of loan amount will be charged.
Renewal of loans will be allowed after 24 months.
Alternatively a separate loan can be taken, subject to
EMI/NMI ratio of not more than 50%.

State Bank of India

MODE OF REPAYMENT
A tie up with employers, to remit the EMIs from the
salary of the employee

Standing Instructions from the salary account of the

borrower with our Bank
A full set of PDCs for the entire period of loan.

State Bank of India

PROCESSING FEE
2% of loan amount if credit score is 60% or above
3% of loan amount if credit score is 50 to 60%

State Bank of India

THANK
YOU