SBI Launches Digital Loan Facility for Personal Loans Up to ₹35 Lakh via YONO App
SBI has introduced a digital loan facility allowing customers to obtain personal loans ranging from ₹1 lakh to ₹35 lakh without visiting a bank. The process is completed through the YONO app, targeting SBI salary account holders, including government and defense employees. Eligibility is based on CIBIL scores, with loans credited directly to accounts post verification. SBI promises low-interest rates and transparency, enhancing access to financial support for personal needs.
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SBI has launched a digital personal loan facility for its customers, allowing loans between ₹1 lakh and ₹35 lakh through the YONO app without needing to visit a bank. This service is available to SBI salary account holders, including government, defense, and private sector employees.
Loan eligibility is determined by CIBIL scores, ideally between 650 and 700. The online process includes OTP verification using Aadhaar, and funds are directly credited after e-signing. SBI offers competitive interest rates based on MCLR without hidden charges, aiming to provide accessible financial solutions for personal expenses.
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