SBI YONO app users can get loan in just 4 clicks; here's how | How-to

SBI YONO app users can get loan in just 4 clicks; here's how

Customers can now avail pre-approved personal loans by applying for the same on SBI YONO App. Check the details here.

| Updated on: Aug 22 2022, 13:10 IST
Here is how to apply for a personal loan on SBI YONO App.
Here is how to apply for a personal loan on SBI YONO App. (Pixabay)

SBI customers can get the bank's pre-approved personal loan in 4 clicks on YONO app. "Having an account with SBI is more rewarding now! You can avail Pre-approved Personal loans instantly at your convenience on 24*7 basis through YONO app in just 4 clicks," the state Bank of India (SBI) said. There will be no need to visit the nearest branch of the bank or for physical documentation. SBI also tweeted about the same. "Get SBI's pre-approved personal loan in just 4 clicks. No physical documentation, No branch visit. Avail now on YONO app," the tweet read. People who wanted to apply for the personal loan can check the eligibility, how to avail, and other details here.

Benefits of availing loan on YONO app

SBI customers will get several benefits by applying for personal loans on the SBI YONO app. The processing fees are low, loans will be processed instantly and disbursement will be done in only 4 clicks. Further no physical documentation and branch visit is required. Also, the facility to apply for the loan will be available 24x7 through the app.

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Presently, this loan is being offered to a category of customers who are pre-selected on certain parameters pre-defined by SBI. In order to know the eligibility criteria SBI customers will have to SMS “PAPL<space><last 4 digits of SBI Savings Bank Account No.>” to 567676.

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It can be noted that PAPL is an offer to selected customers and not an actual sanction, which will be available only after fulfilment of terms & conditions applicable thereof, according to the bank.

How to avail personal loan via SBI YONO App

Step 1:

If you do not have the YONO app on your smartphone, you will first have to download and install it on your phone.

Step 2:

After installing the app, you need to register on it and then login.

Step 3:

As you login to YONO, you will have to click on Avail Now.

Step 4:

Then select Tenure and Amount.

Step 5:

You will now have to enter the OTP which you will receive on your mobile number linked to the account.

Step 6:

As you enter the OTP, the amount will be credited to you.

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First Published Date: 17 Jun, 09:40 IST