The Teachers with Minimum Net Monthly salary of Rs.7500/- can avail loan from State Bank of India. The Maximum loan amount for School Teachers is capped at 12 months Gross Salary both under Term Loan and Overdraft facility. The minimum repayment period for teachers is 6 months and maximum is 60 months. 1.01% of the Loan Amount you should pay as processing fees. There is no prepayment charges for teachers.
Teachers can avail loan upto 24 times Net monthly salary subject to maximum of Rs 15.00 lacs. The minimum loan amount is Rupees 24000/-
The interest rate may change time to time
Click here to view interest rate
For more details
click here or visit https://www.sbi.co.in