Good News For SBI Customers! You Can Get Pre-approved Loan on YONO SBI App. Here’s How

The whole process is fully digital, hence a loan-seeker need not give any physical documents nor does he/she need to visit a bank branch.

SBI YONO Update: In a good news for SBI customers, they can avail a loan through the bank’s YONO app with much ease, in the comfort of their homes. The 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. The whole process is fully digital, hence a loan-seeker need not give any physical documents nor does he/she need to visit a bank branch.

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

How to get a loan on SBI YONO app?

• First of all, 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 whether you are eligible for this service 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 the amount credited in your bank account.