SBI has introduced a Real-Time Express Credit (RTXC) offer on the YONO app for its select customers. Under this offer, customers can avail a personal loan of up to ₹35 lakh through the YONO app. This loan does not require any paperwork.
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SBI is giving ₹2 lakh to its old customers. You may have come across a video on your Instagram feed explaining this. It’s actually about SBI’s RTXC (Real-Time Express Credit) offer, which offers not just ₹2 lakh, but up to ₹3.5 million. Sometimes, situations arise when you suddenly need money. Often, you try to raise it by contacting friends, relatives, or acquaintances. But what if the required amount is large?
In such a situation, a personal loan can prove to be a better option, and if you have an account with the country’s largest bank, State Bank of India (SBI), your problem can be solved in no time.
In fact, SBI has introduced the Real-Time Express Credit (RTXC) offer for its special customers. Under this offer, customers can avail a personal loan of up to ₹3.5 million through the YONO app. Interestingly, this loan requires no paperwork.
Who is eligible for the loan?
This offer is open to customers with a salary account with SBI. Employees working in the central or state government, defense, and corporate sectors can apply. According to the bank, in addition to checking the CIBIL score, all processes, including eligibility and loan approval, will be done digitally, ensuring the process is completed as quickly as possible.
How can you get a loan?
You can easily apply for this loan using the YONO app on your mobile. You will be able to e-sign using your Aadhaar OTP.
What will be the interest rate?
Interest rates are linked to the 2-year MCLR and are fixed for the entire loan period.
Requirements
You must have a salary account with SBI.
You must have a monthly income of at least ₹15,000.
Your EMI/NMI ratio should be less than 50-60%.
Your CIBIL score should be 650 or more than 700.
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