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NEW DELHI: State Bank of India (SBI) on Monday announced the introduction of Real Time Xpress Credit on its Yono platform, allowing eligible customers to get personal loans of up to 35 lakh.

The bank said its flagship personal loan product for salaried customers – Xpress Credit -- now has a digital avatar and customers can now avail of it through Yono. This, it said, would be a 100% paperless and digital experience and an end-to-end eight step journey.

Under Real Time Xpress Credit, central, state government and defence salaried customers of SBI will no longer be required to visit the branch for availing a personal loan. Credit checks, eligibility, sanction and documentation will now be done digitally in real-time, it said.

Dinesh Khara, chairman, SBI, said, “We are pleased to introduce Real Time Xpress Credit loan facility for our eligible salaried customers on Yono. The Xpress Credit product will enable our customers to experience a digital, hassle-free, and paperless loan process. We at SBI constantly endeavour to offer technology-led enhanced digital banking experience to the customers in order to simplify banking."

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