In today's world, going to the bank and standing in long queues to meet financial needs seems quite tiring. Understanding this problem, the State Bank of India has introduced a fantastic digital solution for its customers. Through SBI's Real Time Express Credit scheme, customers can now obtain loans worth lakhs of rupees from their mobile phones without any paperwork. This facility is specially designed for those who need money urgently and want to avoid the complex processes of the bank.

Taking a Loan Made Easy

This modern technology from State Bank has transformed the entire loan process. Now, customers don't have to visit bank branches for their personal needs such as home repairs, children's education, or medical emergencies. Under this scheme, customers can get a personal loan of ₹1 lakh to ₹35 lakhs in just a few minutes. This entire process through the YONO app is not only fast but also transparent. The bank has made this digital journey so simple that now there is no need to wait for days for loan approval.

Who Can Avail This Facility?

This special service of SBI is primarily for customers who have a salary account with the State Bank of India. This includes central and state government employees, defense personnel, and those in the corporate sector who fall within a certain salary range. The bank's system automatically checks the customer's eligibility and CIBIL score. If the customer is eligible for this loan, a special banner or offer will appear on the YONO app. Usually, customers with a CIBIL score between 650 and 700 can easily get this loan.

Interest Rates and Other Important Details

The bank has also kept the interest rates quite attractive in this scheme. The interest is calculated based on the two-year MCLR, which remains constant throughout the loan tenure. The best part is that there are no hidden charges. Currently, until January 31, 2026, the bank is also offering discounts on processing fees across several categories, thus avoiding any additional financial burden on customers. The maximum loan limit depends on the customer's income and credit history.

Loan Application Process

The process is completely paperless. To apply, the customer needs to log in to the YONO app and check their eligibility in the loan section. Once the OTP verification via Aadhaar card and the digital signature process are completed, the loan amount is transferred directly to the bank account. This is a completely secure method, and the customer's personal information is kept strictly confidential.