New Delhi: The SBI has announced a new scheme to provide emergency loans of up to Rs 5 lakh in 45 minutes to users. The announcement was made in the bank’s mobile app YoNo.
The interest rate on the loan is 10.5%. Also, the EMI (Monthly) repayment entitles them to six months’ grace. Users can check the loan eligibility via the Yono App itself. For this, click on the “Pre-approved Loan” section of the App. The payment amount and the repayment period will be given. Subsequent OTPs upon entering the app, the amount will be credited to the account.
You can check the eligibility of this loan scheme by sending the last four digits of your SBI account number to 567676 followed by SMS text format PAPL.
