Updated on : 6 May, 2018

for Concessional / Interest Free Loans

Note: If loan in aggregate is less than ₹ 20,000/-, the perquisite value will be Nil.

Perquisite Value Calculator for Concessional / Interest Free Loans | ||
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Outstanding as on 1st April 2015 | ||

Monthly repayment | ||

SBI Interest Rate for loan type | ||

Interest charged by Employer | ||

Balance as on last day of | Interest as per SBI Loan Rate | |

April | ||

May | ||

June | ||

July | ||

August | ||

September | ||

October | ||

November | ||

December | ||

January | ||

February | ||

March | ||

Total Interest as per SBI Loan Rate | ||

Less : Interest Charged by the employer | ||

Taxable Value of Concessional / Free of Interest Loan |

Interest Rate on Home Loan (MCLR: 8%) | |
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Category | Rate of Interest |

Women (Up to Rs.75 Lacs) (HER Ghar) | 1 year MCLR + 0.60%, effective rate 8.60% p.a. |

Women (Above Rs.75 Lacs) (HER Ghar) | 1 year MCLR + 0.65%, effective rate 8.65% p.a. |

Others (Up to Rs.75 Lacs) | 1 year MCLR + 0.65%, effective rate 8.65% p.a. |

Others (Above Rs.75 Lacs) | 1 year MCLR + 0.70%, effective rate 8.70% p.a. |

SBI Student Loan Scheme | |

SBI Student Loan* (Floating Interest Rate linked to 1 year MCLR with 1 year reset) | |

For loans uptoRs 4 lac | 2%above 1 year MCLR i.e., 11.20% |

Above Rs 4 lac and uptoRs 7.50 lac | 2% above 1 year MCLR i.e., 11.20% |

Above Rs 7.50 lac | 1.75% % above 1 year MCLRi.e.,10.90% |

Loan against NSCs/ KVPs/ RBI Relief Bonds/ Surrender value of SBI Life/ LIC/ SBI Magnum etc. | |

4.50%above 1 year MCLR with 1 year reset i.e., 13.70%(floating) |

Scheme Name | Tenure | Interest rate | |
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For Men | For Women | ||

SBI Car Loan Scheme | For All Tenure | 0.60% above 1 year MCLR i.e. 9.80% p.a. | 0.55% above 1 year MCLR i.e. 9.75% p.a. |

SBI Combo Loan Scheme | For All Tenure | 0.60% above 1 year MCLR i.e. 9.80% p.a. | 0.55% above 1 year MCLR i.e. 9.75% p.a. |

NRI Car Loan | For All Tenure | 0.60% above 1 year MCLR i.e. 9.80% p.a. | 0.55% above 1 year MCLR i.e. 9.75% p.a. |

Certified Pre-owned car loan | For All Tenure | 4.00% above 1 year MCLR i.e. 13.20% p.a. | |

SBI Loyalty Car Loan Scheme | Car Loan, Combo Loan, NRI Car Loan | 0.50% above 1 year MCLR i.e. 9.70% p.a. | 0.45% above 1 year MCLR i.e. 9.65% p.a |

Certified Pre-owned Car Loan Scheme , Used Car Loan Scheme | 1.80% above 1 year MCLR i.e. 11.00% p.a. | 1.75% above 1 year MCLR i.e. 10.95% p.a. | |

Super Bike Loan Scheme | For All Tenure | 3.00% above 1 year MCLR i.e. 12.20% p.a. |

Xpress Credit | Full Check-off (Category I) | 3.30% - 3.80% above 2 year MCLRi.e., 12.60% - 13.10% p.a. currently |

Partial Check-off (Category II) | 4.30% - 4.80% above 2 year MCLR i.e., 13.60% - 14.10% p.a. currently | |

No Check-off (Category III) | 5.30% - 5.80% above 2 year MCLRi.e., 14.60% - 15.10% p.a. currently |

MCLR RATE : 09.20 % | |
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Borrowers' category | Home Loan interest rate, irrespective of loan limit |

Women | 20 bps above the one year MCLR of 9.20 % i.e 9.40% p.a. |

Others | 25 bps above the one year MCLR of 9.20% i.e.9.45% p.a. |

SBI Student Loan Scheme | |

SBI Student Loan* (Floating Interest Rate linked to 1 year MCLR with 1 year reset) | |

For loans upto Rs 4 lac | 2% above 1 year MCLR i.e., 11.20% |

Above Rs 4 lac and upto Rs 7.50 lac | 2% above 1 year MCLR i.e., 11.20% |

Above Rs 7.50 lac | 1.75% % above 1 year MCLR i.e.,10.90% |

* for Girl Student 0.50% concession interest rate | |

Loan against pledge of Gold Ornaments | |

2% above 1 year MCLR with 1 year reset, currently11.20% p.a. (floating) | |

Loan against NSCs/ KVPs/ RBI Relief Bonds/ Surrender value of SBI Life/ LIC/ SBI Magnum etc. | |

4.50% above 1 year MCLR with 1 year reset i.e., 13.70%(floating) |

Scheme Name | Tenure | Interest rate for Men | Interest rate for Women |
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SBI Car Loan Scheme | |||

For All Tenure | 0.60% above 1 year MCLR i.e. 9.80% p.a. | 0.55% above 1 year MCLR i.e. 9.75% p.a | |

SBI Combo Loan Scheme | For All Tenure | 0.60% above 1 year MCLR i.e. 9.80% p.a. | 0.55% above 1 year MCLR i.e. 9.75% p.a. |

NRI Car Loan | For All Tenure | 0.60% above 1 year MCLR i.e. 9.80% p.a. | 0.55% above 1 year MCLR i.e. 9.75% p.a. |

Certified Pre-owned car loan | For All Tenure | 4.00% above 1 year MCLR i.e. 13.20% p.a. | |

SBI Loyalty Car Loan Scheme | Car Loan, Combo Loan, NRI Car Loan | 0.50% above 1 year MCLR i.e. 9.70% p.a | 0.45% above 1 year MCLR i.e. 9.65% p.a. |

Certified Pre-owned Car Loan Scheme , Used Car Loan Scheme | 1.80% above 1 year MCLR i.e. 11.00% p.a. | 1.75% above 1 year MCLR i.e. 10.95% p.a. | |

Super Bike Loan Scheme | For All Tenure | 3.00% above 1 year MCLR i.e. 12.20% p.a. |

Scheme Name | Check Off | Rate of Interest* |
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Xpress Credit | Full Check-off (Category I) | 3.30% - 3.80% above 2 year MCLRi.e., 12.60% - 13.10% p.a. currently |

Partial Check-off (Category II) | 4.30% - 4.80% above 2 year MCLR i.e., 13.60% - 14.10% p.a. currently | |

No Check-off (Category III) | 5.30% - 5.80% above 2 year MCLRi.e., 14.60% - 15.10% p.a. currently |

for AY 2015-16 and 2016-17

Loan Type | Interest Rate As on 01.04.2014 | Interest Rate As on 01.04.2015 | ||
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(For Assessment Year 2015-16) | (For Assessment Year 2016-17) | |||

Housing Loan | Upto ₹ 75 lacs | 10.15%# | Women - 10 bps above the BR i.e 10.10% p.a. Others - 15 bps above the Base Rate i.e. 10.15% p.a. | |

Above ₹ 75 lacs | 10.30% | |||

Car Loans for New Car | 10.95% | 0.45% above base rate, i.e. 10.45% p.a., for all tenure ( for Men)
0.40% above base rate, i.e. 10.40% p.a., for all tenure ( for Women) | ||

Used Car Loan | Up to 3 years - 7.25% above Base Rate i.e. 17.25% p.a. Above 3 yrs up to 7 yrs - 7.50% above Base Rate i.e. 17.50% p.a. | |||

Two Wheeler Loan | 18.25% | 8.25% above Base Rate i.e. 18.25% p.a | ||

Educational Loan | Upto ₹ 4 lacs | 13.5% @ | Upto ₹ 4 lacs | 3.50% above Base Rate i.e., 13.50% |

₹ 4 lacs to ₹ 7.5 lacs | 13.75% @ | ₹ 4 lacs to ₹ 7.5 lacs | 3.75% above Base Rate i.e., 13.75% | |

Above 7.5 lacs | 11.75% @ | Above 7.5 lacs | 11.75% @ | |

Personal Loan | 18.5% | |||

Loan against Gold Ornaments | 2.50% above Base Rate Floating, currently 12.50% p.a. | |||

Xpress Credit | Full Check-off - 300 bps - 350 bps above Base Rate i.e., 13.00 % p.a. - 13.50% p.a.
Partial Check-off - 400 bps - 450 bps above Base Rate i.e., 14.00 % p.a. - 14.50% p.a. No check off - 500 bps - 550 bps above Base Rate i.e., 15.00 % p.a. - 15.50% p.a. |

@ 0.5% concession for girl student

# An interest rate concession of of 0.05% to women borrowers.

# An interest rate concession of of 0.05% to women borrowers.