The State Bank of India (SBI) has introduced an application called YONO App that makes it easier to apply for a pre-approved personal loan (PAPL). This is a blessing for people who want to apply for the SBI pre-approved personal loan but find it tedious.
All you need is to download the application from the Google Play Store and enjoy the 24*7 service on your fingertips.
SBI bank account holders who want to avail the YONO app facility for submitting their pre-approved personal loan applications need to visit the nearest SBI branch and complete the required physical documentation. Once the documentation is done, they can use the hassle-free facility of the YONO App.
SBI YONO App's Pre-Approved Personal Loan Facility: Who Can Apply, How To Check the Eligibility?
People who have their accounts in the SBI bank are more privileged because their eligibility for the approval of the pre-approved personal loan will be decided by considering their credit history and repayment track. The overall eligibility for the SBI's pre-approved personal loan facility will be decided to a special category of customers.
Interested customers who want to avail the pre-approved personal loan facility can check their eligibility by sending SMS ‘PAPL’ to 567676. According to the SBI bank officials, the PAPL facility will be provided to only some selected users who will succesfully meet the bank criteria and fulfil the given terms and conditions.
SBI Pre-Approved Personal Loan (PAPL) Facility: How To Apply Via YONO App?
SBI bank customers who want to avail the PAPL facility through the YONO App should follow the below steps:
Go to the Google Play Store and download the official YONO application.
Once the app is installed, complete the login and registration process.
Once done, click on the dropdown menu and select the option 'Avail Now.'
Select the loan amount that you want to be credited to your account.
Enter the amount and you will receive an OTP (one time password) on your registered mobile number that is linked to the bank.
Enter the OTP and hit the submit button.
The selected loan amount will be credited to your SBI account.