The country’s largest lender, State Bank of India offers pre-approved loans on its mobile application SBI YONO. All SBI Customers including the people from the farming community can get these loans round the clock and instantly in a matter of a few minutes.
The whole process of loan approval & disbursement is digital, a loan seeker need not give any physical documents nor does need to visit a bank branch.
The Main Features of the facility include:
- Low processing fees
- Instant Loan Processing & Disbursement in just 4 clicks
- No Physical Documentation
- 24*7 Availability through SBI YONO App.
- No need to visit the bank branch
Additionally, SBI has waived off processing charges on pre-approved personal loans till 31 January 2022.
How to avail for SBI Pre Approved Loan?
- The customers must check their eligibility by sending an SMS to 567676 in the format PAPL<space><Last 4 digits of your SBI Savings Banks Account No.>
- You will get a response informing you whether you are eligible or
- Once, you get a go-ahead, login to YONO App.
- Click on ‘Avail Now’
- Lastly, choose Loan tenure & amount
- You will receive an OTP on your registered Mobile number, enter that.
- The loan will be processed and amount credited in your bank account
SBI’s Special Offer for Farmers
Rabi season has begun in India and the sowing operations are in full swing. So to facilitate these activities for the farmers, the State Bank of India, is giving away exciting offers & discounts on the purchase fertilizers & pesticides through YONO Krishi Mandi.
SBI’s YONO Krishi Platform has been catering to all the farmers’ agricultural needs, from sowing to harvesting. The farmer customers of the bank can avail of free home delivery of all farming-related products in over 27000 locations across the country from different merchants including IIFCO.