SBI offers personal loan up to Rs 35 lakh without visiting the branch
SBI Personal Loan: The country’s largest lender State Bank of India (SBI) has announced the ‘digital avatar’ of its flagship personal loan product Express Credit on YONO. The public sector bank said the new product – Real Time Express Credit (RTXC) will allow salaried customers to take personal loans up to Rs 35 lakh without any paperwork.
Under Real Time Express Credit, the bank said that customers can now take loans without visiting the branch. It added that the entire process would be paperless and the entire 8-step journey would be easy and instant for the customers.
Under Real Time Express Credit, central, state government and defense salaried customers of the bank can apply for loans and credit enquiries, eligibility, sanctions and documents will be done digitally in real time.
“We at YONO are pleased to introduce the real time Express Credit loan facility for our eligible salaried customers. The Express Credit product will enable our customers to experience a digital, hassle-free and paperless loan process.” SBI Chairman Dinesh Khara said, “We at SBI continuously strive to provide technology-based advanced digital banking experience to make banking easier for our customers.
The bank expects that the digitization of Express Credit will encourage more customers to adopt digital banking and also eliminate the need to handle and store bulky paperwork for loans.
The bank claims that customers can get quick approval and quick disbursement of loans with minimal documentation through Express Credit Personal Loan to meet their financial obligations.
According to SBI’s website, the bank offered 100% rebate in processing fee across all channels till March 31.