Good News amid Lockdown! SBI is Giving Emergency Loan to its Customers at Cheapest Interest Rate

In midst of the nationwide lockdown to fight against global pandemic COVID-19, the financial condition of people has started to be disastrous and many have to suffer a lot. As per reports, many companies have cut wages while the condition of small traders has also started to deteriorate due to the closure of the business. Keeping this thing in mind, SBI has announced to give an emergency loan at cheap interest for such people. Also, instalment will not have to be paid for six months, says an official.

SBI Emergency Loan at Lowest Rate

SBI has said that there is no need to get out of the house to take a loan. Those who need a loan will get it within 45 minutes of sitting at home. Moreover, the State Bank has advised its customers to download the Yono App and get the best benefit out of this. The instalment, which starts after six months, will attract only 7.25 per cent interest, which is the lowest ever in any loan, says SBI.

SBI Customers can Get Personal Loans in just Four Clicks

Senior bank employee leader Rajendra Awasthi said that SBI customers can get preapproved personal loans in just four clicks. Applications can be applied for loan seven days a week and 24 hours a day. He said that in order to take an emergency loan, the customer needs to send an SMS to the number 567676 by writing PAPL <last 4 digits of account number>. You will be told in the message whether you are eligible to take a loan or not. The eligible customer will get the loan in just four steps.

How Customers can Avail SBI Emergency Loan Instantly?

First step - download the State Bank Yono app and login

Second step - click on the app now in the app

Third step - after this choose the time period and the amount

The fourth step- OTP will come on the registered number. The money will enter the account as soon as it put.