State Bank of India: Interest Rates on 1st April, 2011
For the purpose of computing perquisite valuation
Interest rates as on 1st April, 2011 on various loans in Personal Segment advances are as under –
1. Home Loans
|
Loan amount
|
Upto Rs.30 lacs
|
Above Rs. 30 lacs to Rs. 75 lac
|
Above Rs.75 lac to Rs.5 Cr.
|
Above 5 cr.
|
Interest rate during 1styear
|
8.75% .
|
8.75% .
|
10%
|
10.25%
|
Interest rate during 2nd & 3 rd year
|
9.50%.
|
9.50%
|
10%
|
10.25%
|
Interest rate from 4th year onwards
|
9.75%
|
10.00%
|
10%
|
10.25%
|
2. Car Loans
|
Loan amount
|
Below Rs.5 lacs
|
Rs.5 lacs and above
|
Interest rate during 1styear
|
9.25% p.a.
|
9.25% p.a.
|
Interest rate during 2nd & 3 rd year
|
10.25% p.a.
|
10.25% p.a.
|
Interest rate for 4th & 5th year
|
11.25%
|
11.00%
|
Interest rate for 6th & 7th year
|
11.25%
|
11.00%
|
Used Cars
|
Up to 3 years
|
15.50 %
|
Above 3 years and upto 7 years
|
15.75 %
|
3. Two wheeler
|
Upto 3 years
|
16.50%
|
4. Education loans
|
SBI Student Loans*
|
upto Rs.4 Lac – 12.00%
Loans above Rs.4 Lac and upto 7.50 lacs – 13.50%
Loans above Rs.7.5. Lac- 12.5%
|
5. Personal loans
|
Xpress credit (Demand Loan)
|
13.25% TO 15.25%
|
Xpress credit (Overdraft)
|
No Overdraft
|
SBI Saral
|
16.75%
|
6. Loans against NSCs/KVPs/RBI Relief Bonds/Surrender value of SBI Life/LIC/SBI Magnums etc.
|
Upto 3 years
|
12.75%
|
More than 3 years and upto 6 years
|
12.75%
|
7. Loans against Gold Oranaments
|
Upto Rs.1 lac:12.50%
Above Rs.1 lac:13%
|
* 0.50% additional concession for girl students w.e.f.02.03.2009