National Chronicle
Business/Economy

SBI launches Emergency loan in just 4 clicks due to case Crisis in Lockdown, Check Eligibility now

New Delhi: The income of small laborers, including businessmen, traders and employees, has also been severely hampered by the outbreak of the Corona virus and the lockdown implemented to prevent the infection of this epidemic. Due to this, a cash crisis has arisen in front of many people. In view of this cash crisis in the Corona era, State Bank of India (SBI) has introduced an emergency loan facility for small traders. This emergency loan is available at an interest rate of 7.25% per annum. This interest rate is much lower than the personal loan interest rate of many other Indian banks.

SBI has also eased rules for personal loans and other retail loans. Now SBI customers can apply for a loan even while sitting at home. SBI offers pre-approved personal loans to its customers. SBI customers will only have to download the SBI Yono app on their smartphone or use the SBI online service. Smartphone users can get retail pre-approved personal loans in just four clicks through the SBI Yono app.

According to the SBI website, pre-approved SBI loans have several features. In this loan processing is done immediately and the processing fee is also less. Also, it does not require any physical documentation. Apart from this, this facility is available 24 * 7.

If a customer downloads the SBI Yono app on his smartphone, then he can get the loan amount in his account only by taking four clicks.

Let’s know which those four clicks are:

Step 1. First, the customer has to download the SBI Yono app and log in.
Step 2. Now click for pre-approved loan.
Step 3. Now time period and amount have to be selected.
Step 4. Now after entering your OTP, the amount will be credited to your account.

How to check eligibility

To check whether SBI customers are eligible for a pre-approved personal loan, they have to send a message “5 last 67 digits of PAPL account number” to the number 567676. In response, the customer will get to know the eligibility of his pre-approved administrative loan.

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