SBI Loan : SBI, the country’s largest public sector bank, is constantly striving to simplify the banking experience for its customers. SBI has now further simplified the loan process through its digital process, making it easier for anyone to obtain a home loan, car loan, or personal loan. The SBI YONO app has simplified the loan process and reduced paperwork. You can now easily avail a loan digitally using the SBI YONO app, eliminating the need to visit the bank.
Get a loan from SBI from the comfort of your home
SBI has launched the “YONO App,” simplifying the loan process. This has now completely digitized the loan process. You no longer need to visit bank branches to get a loan; you can easily get a loan from the comfort of your home with minimal documentation. SBI now offers loans ranging from ₹1 lakh to ₹50 lakh based on income. The bank also offers free personal loans to select customers based on their salary and credit history. This personal loan can be availed in just four clicks, with zero processing fees. Additionally, you also get access to car loans and gold loans.
Features of SBI Loan
Availing an SBI loan has become easier now. Let us know the main features of taking a loan from SBI –
- In SBI loan, you have to pay an interest rate of 10.5% per annum.
- You are given a pre-approved loan on the ‘YONO App’, in which you can avail it in four clicks and at zero processing fee.
- It is completely digital, you do not need to visit the branch and the process is completed with minimum documentation.
- You can get a loan from Rs 1 lakh to Rs 50 lakh, which is up to 24 times your monthly income.
- You are given 6 to 7 months time to repay the loan.
Categories of SBI Loan
There are some major categories in which loans are made available to you in SBI Loan –
Personal Loan – You can get this loan for someone’s marriage, illness or any other emergency expense.
Car Loan – If you want to buy a new car, you get finance facility up to 90% in it.
Home Loan – SBI offers home loan at the lowest interest rate in which women also get interest rate concession.
Education Loan – Loans are made available to students at low interest rates for higher education.
Applying for SBI Loan
You can apply for SBI Loan both online and offline –
Online Application: If you want to take a loan from SBI, you can apply through YONO App or website where you can go to the loan area and select the area in which you want to take the loan and after checking your eligibility, upload all the required documents and after document verification, the loan amount is sent to your account.
Offline – To avail an offline loan, you can go to your nearest SBI branch and contact the concerned officer and take the application form from them, fill in all the necessary information in it, attach all the documents and submit it to the bank officer. Your eligibility will be checked by the bank officer and if found eligible, you will be given the loan.
