State Bank of India’s customers who require urgent funds can apply for pre-approved personal loans (PAPL) through bank’s YONO app, the lender said in a statement. For the same, the bank said, customers can get a 100 percent waiver in processing charges.
“This offer is available till January 31, 2022,” the lender said.
No physical documentation is required for availing PAPL. Also, there is 24*7 availability through YONO, State Bank of India (SBI) said.
Here are key things to know about SBI’s pre-approved personal loans:
Currently, this loan is available for a category of customers who are pre-selected on certain parameters and are pre-defined, the bank mentioned.
Customers can check their eligibility by sending this SMS to 567676 - “PAPL<space><last 4 digits of SBI Savings Bank Account No.>”.
The bank said it is offering lowest interest rate starting at 9.60 percent for availing pre-approved personal loans.
How to avail Pre-Approved Personal Loans (PAPL) on YONO:
Step 1: Login to YONO
Step 2: Click on 'Avail Now'
Step 3: Select loan amount and tenure
Step 4: Enter OTP received on the registered mobile number -> Amount Credited
(Edited by : Anshul)
First Published: IST