India’s largest lender, State Bank of India (SBI), has launched Real-Time Xpress Credit (RTXC) on YONO. SBI has announced that eligible customers can now apply for personal loans up to 35 lakh through the YONO app without having to fill in any documentation. With the launch of the Credit Xpress facility through the YONO app, eligibility, credit checks, documentation, and other processes will be done digitally and in real time.
“With Real-Time Xpress Credit, salaried central/state government and defense banking customers will no longer need to visit a branch to qualify for a personal loan,” SBI said.
“Credit checks, eligibility, sanctioning and documentation will now be done digitally in real time,” SBI added.
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While SBI YONO offers personal loans up to ₹35 lakh, not everyone is eligible. Check here if you are eligible for personal loans available through the SBI YONO app.
Those who have SBI salary accounts with a monthly income of ₹15,000 will be eligible for the SBI Real Time Xpress credit facility. In addition, employees of the central, state and quasi-governmental PSUS, the central PSUS and the state-for-profit PSUS, nationally recognized educational institutions and certain selected companies with or without connection to the bank will be able to use it. .
The Xpress Credit product, according to SBI Chairman Dinesh Kumar Khara, will offer customers a digitized, hassle-free and paperless borrowing transaction.
People can fulfill all their general banking needs with the YONO Business Platform for SBI, the official website states. He also says the solution makes it easy for people to manage their business from anywhere. SBI’s financial services enable people to perform tasks ranging from the most basic to the most complex.