Get an SBI YONO personal loan instantly. Check your eligibility, interest rates, and how to apply for pre-approved personal loans online with ease.
SBI provides instant and simple personal loans via its YONO app, and it is simple to apply for a loan. If you are going to apply as an existing SBI customer, you may get pre-approved personal loan without the requirement of visiting a branch. All about SBI YONO personal loan, such as eligibility, rate of interest, loan amount, and application, is discussed in this article.
How to Check Eligibility for an SBI Personal Loan on YONO?
Before you apply for an SBI YONO personal loan, ensure that you verify your eligibility criteria. The bank provides this loan to special customers depending on their credit report and banking history.
Eligibility Parameters for SBI YONO Personal Loan
- You must have an SBI savings bank account.
- Your account must be active for a while.
- A good transaction history and credit score improve chances.
- SBI pre-selects customers for pre-approved personal loans.
To check your eligibility, send an SMS to 567676 with the last 4 digits of your SBI savings bank account.
What is a Pre-Approved Personal Loan on SBI YONO?
A pre-approved personal loan (PAPL) is an instant loan offer from State Bank of India for eligible customers. It requires no physical documents, and the loan amount is disbursed quickly.
Benefits of Pre-Approved Personal Loans on YONO
- No need for a branch visit.
- 100% digital process via SBI YONO app.
- Instant loan approval with minimal documentation.
- Loan amount up to Rs 15 lakh.
- Competitive interest rates, starting from 8.15% p.a..
SBI provides pre-approved personal loans to existing customers based on their bank account transactions and credit profile.
SBI YONO Personal Loan Interest Rates & Charges
SBI offers personal loans at competitive interest rates, which depend on the applicant’s creditworthiness and the loan type.
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Current SBI Personal Loan Interest Rates
- Starts from 9.00% p.a.
- Standard rates: 8.15% – 11.60% p.a.
- SBI gold loan rates start from 7.00% p.a.
- Processing fee: Up to 1% of the loan amount.
Interest rates may vary based on your SBI account type and credit score.
Steps to Apply for an SBI Personal Loan Using YONO App
Applying for an SBI YONO personal loan is easy and takes as less as 4 clicks.
Follow These Steps:
- Open the SBI YONO app and log in with your credentials.
- Select ‘Avail Pre-Approved Personal Loan’ option.
- Enter the loan amount you wish to apply for.
- Verify your registered mobile number with an OTP.
- Accept the terms, and the loan will be credited instantly.
No need for branch visits—the entire process is available online.
Loan Amount & Repayment Tenure for SBI YONO Personal Loans
How Much Can You Borrow?
- SBI offers pre-approved personal loans up to Rs 15 lakh.
- Minimum loan amount starts from Rs 10,000.
Repayment Options
- Tenure ranges from 6 months to 6 years.
- Flexible EMI options based on the loan amount.
You can calculate EMI using the SBI YONO app before applying.
Documents Required for SBI YONO Personal Loan
One of the biggest advantages of SBI YONO personal loans is the minimal documentation required.
Required Documents
- Aadhaar Card
- PAN Card
- Driving License or Voter’s ID Card
- Bank details for loan amount disbursement
Since these loans are pre-approved, no physical documents are required.
Who Can Avail SBI’s Pre-Approved Personal Loan?
SBI is offering this facility to select customers of SBI who fulfill certain conditions.
Eligibility Parameters That Pre-Select Applicants
- Existing SBI account holders with an active bank account.
- Good transaction history.
- Regular salary deposits in SBI savings bank account.
- Strong CIBIL score.
If you meet the criteria, SBI YONO app personal loan will be visible in your SBI YONO app.
SBI Gold Loan vs. SBI YONO Personal Loan – Which is Better?
SBI offers multiple loan options, including SBI gold loan and personal loans through YONO.
Comparison:
| Feature | SBI YONO Personal Loan | SBI Gold Loan |
| Interest Rate | Starts from 9.00% p.a. | 7.00% p.a. |
| Loan Amount | Up to Rs 15 lakh | Based on gold valuation |
| Collateral | No collateral required | Requires pledged gold |
| Processing Time | Instant approval | Requires gold verification |
If you need an instant personal loan, SBI YONO personal loan is the best choice.
How to Check Loan Status & EMI Payments?
Once you have applied for a loan, you can track your application and EMI payments.
Checking Loan Status
- Open SBI YONO app and go to the Loan Section.
- Select ‘My Loans’ to view status.
- Use Internet Banking (INB) to check EMI schedules.
To avoid default, ensure timely EMI payments through SBI account or auto-debit.
FAQs: SBI YONO Personal Loan
1. What is the interest rate for SBI YONO personal loans?
Interest rates start from 9.00% p.a., with standard rates between 8.15% – 11.60% p.a..
2. How much loan amount can I avail?
You can get up to Rs 15 lakh, depending on your eligibility.
3. Can I apply if I don’t have an SBI savings account?
No, you need an SBI savings bank account to apply.
4. How can I check my eligibility?
Send an SMS to 567676 with your 4 digits of SBI savings bank account.
5. Is a branch visit required for the loan?
No, everything is processed online through the SBI YONO app.
Conclusion:
SBI YONO personal loans offer a hassle-free way to get funds instantly. With simple eligibility checks, competitive interest rates, and no branch visits required, it’s a convenient option for SBI customers. Use the YONO app to check your eligibility and apply in just a few clicks.