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SBI Personal Loan: Here’s How You Can Get Pre-approved Loan amid Corona Crisis; Check Eligibility & Method to Apply

Pronami Chetia
Pronami Chetia

India’s largest government-owned bank ‘State Bank of India’ has recently introduced pre-approved personal loan through online platform ‘YONO’ amid the corona crisis. The bank has started a pre-approved personal loan through YONO for salaried customers who are facing a financial crisis and cash-flow problem due to coronavirus lockdown. However, SBI has confirmed that it’s not currently offering any emergency loan scheme via its Yono app. 

Moreover, SBI said in a statement, “This is regarding the news being widely reported about ‘SBI Emergency Loan scheme via YONO’. We would like to clarify that SBI is not offering any such loan at present. We also urge our customers not to believe on these rumours".  

How to check eligibility for SBI Pre-approved Loan? 

You can check your eligibility by sending SMS text format as 'PAPL and four last digits of your SBI account number to 567676' after sending it  The bank will respond to your eligibility query by replying to your SMS.

However, the authority has restricted public gathering and asked to maintain mobility restrictions during this lockdown or use SBI Yono application.

How You Can Avail SBI ‘Pre-approved Loan’? 

1.Download the SBI Yono app and click on 'Pre-approved Loan' 

2.Select tenure and loan amount 

3.A one-time-password (OTP) will be sent to the registered mobile number and you have to submit it 

4.SBI emergency loan amount will be credited in your SBI savings account immediately 

Check here for more details.  

https://www.sbi.co.in/web/personal-banking/loans/personal-loans/xpress-credit-personal-loan 

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