Financial Crisis? Get loan up to Rs 35 lakh online from SBI in few clicks; check details

New Delhi: The State Bank of India, or SBI, the largest lender in India's public sector, recently announced the debut of Real Time Xpress Credit (RTXC), its signature personal lending product, on its YONO app. Customers won't need to go to SBI branches to apply for a personal loan. This move of the bank is to ease and promote the digital. It's crucial to know that salaried people can use the SBI Real-Time Xpress Credit (RTXC) personal loan option.

Now, consumers who qualify can obtain personal loans up to Rs 35 lakh. The SBI claims that this service would involve eight steps from beginning to end and be entirely paperless and computerised. (Also Read: Short of funds? LIC is offering personal loans at low-interest rates compared to banks: check EMI calculator, loan terms & more)

The SBI Real-Time Xpress Credit (RTXC) personal loan option is available to those who have a salary account with the bank. Through the YONO app, they may enjoy RTXC's convenience without leaving their homes. The procedure will be entirely digital and paperless. (Also Read: NPS: Get Rs 2 lakh monthly pension by investing just Rs 5,000 per month; Check return calculator, tax benefits)

Understanding who is qualified to use the feature is essential before making use of the benefits. If someone wants to make advantage of the function, they must meet the below-mentioned requirements.

- Beneficiary must have a salaried account in SBI.

- The salary of the individuals must be Rs 15,000 per month.

- Central government and State government employees or Defence servicemen can avail the benefit of the service.

This special facility is 100 percent paperless work. As a result, credit checks, eligibility for loans, loan approval, and submission of documents will also be done online. 

"We are happy to offer our qualified salaried customers on Yono the Real Time Xpress Credit loan opportunity. Our consumers will be able to go through the loan procedure digitally, without any bother, and without any paper. In order to make banking simpler, we at SBI always work to provide consumers with a technology-led enhanced digital banking experience, SBI Chairman Dinesh Khara.