Home/ Companies / News/  Here’s how you can get pre-approved loan on YONO SBI app

State Bank of India offers pre-approved personal loans on its mobile application SBI YONO. The facility promises round-the-clock service and instant approval of loans. As the process is completely digital, a loan-seeker doesn't need to give any physical documents nor does she need to visit a bank branch.

As part of festive offers, SBI has waived off processing charges on pre-approved personal loans till 31 January 2022.

Here’s how customers can get a loan on YONO app.

- Check your eligibility by sending an SMS to 567676 in the format “PAPL<space><last 4 digits of SBI Savings Bank Account No.>"

- You will get a response informing you whether you are eligible or not

- Once you get a go-ahead, login to YONO app

- Click on ‘avail now’ option

- Select loan tenure and amount

- Enter the One Time Password (OTP) sent your mobile number

- The loan will be processed and amount credited in your bank account

Last month, SBI had launched a pre-approved two-wheeler loan ‘SBI Easy Ride’ on YONO. This loan too can be availed through an end-to-end paperless process through the YONO app without having to visit the bank branch.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 09 Dec 2021, 01:49 PM IST
Next Story
Recommended For You
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout