Country's largest lender State Bank of India (SBI) has launched Real-Time Xpress Credit (RTXC) on its YONO app. With this facility, citizens can get personal loans up to Rs 35 lakh without carrying out any paper work and without going anywhere, according to reports.
The latest move will allow customers to apply for personal loan without visiting any SBI branches from the comfort of their home. The new feature will be available for salaried people with a salary account with SBI.
SBI has said in a press release, "With an aim to digitally empower customers and offer additional convenience, the country's largest lender, State Bank of India (SBI) has announced the introduction of Real Time Xpress Credit (RTXC) on YONO. The bank's flagship personal loan product for salaried customers - Xpress Credit has a Digital Avatar now."
Citizens will not have to go anywhere and will be able to avail RTXC anywhere via YONO. Customers will have to follow just 8 simple steps to apply for personal loan.
Customers' eligibility, documentation, credit checks and other important steps can now be conducted digitally with the availability of RTXC on YONO app.
The move will let state government, defence salaried customers will not have to step outside anywhere for obtaining a personal loan.
Eligibility: The feature can be availed by the following:
Citizens must have a salary account with SBI.
Citizens must have a monthly income of Rs 15,000.
Citizens must be working with central, states. Quasi government, Central PSUS, Profit generating State PSUS, Educational institutes, some corporates with or without any relationship with SBI.