The bank said that a SBI Salary Account holder can avail a loan of Rs 25,000 to Rs 20 lakh in this scheme.
In a good news for lakh of SBI customers, the State Bank of India (SBI) has started SBI’s Xpress Credit Personal Loan service for its salary account holders. The SBI said that a SBI customer can avail the service by giving a missed call or send an SMS. The bank said that a SBI Salary Account holder can avail a loan of Rs 25,000 to Rs 20 lakh in this scheme.
1. SBI on instant loan
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The SBI said that it will give quick approval and instant disbursal of loan amount in Savings Account of the applicants.
2. More details about SBI instant loan
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According to SBI, the loan is approved with minimal documentation.
3. What is the interest rate?
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The interest rate levied by SBI on this personal loan is 9.60 per cent, which is lowest among all Indian banks.
4. What SBI said on Twitter?
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SBI posted a tweet with a link that claims, "Whether it’s your wedding or a vacation, unplanned emergency or planned purchase, get quick approval and instant disbursal with minimal documentation through SBI’s Xpress Credit Personal Loan for all your needs," adding, "Give a Missed Call on 7208933142 or SMS “PERSONAL” on 7208933145 to get a call back from our Contact Centre."
All it takes is an SMS, to begin with your personal loan process.
— State Bank of India (@TheOfficialSBI) February 16, 2021
SMS <PERSONAL> on 7208933145.
To know more: https://t.co/TH5bnGWu1V pic.twitter.com/EJin90BhxV
5. Eligibility criteria for instant SBI Personal Loan
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a) Individuals with Salary Account with SBI;
b) Minimum monthly income Rs 15000 per month;
c) EMI/NMI Ratio less than 50 per cent; and
d) SBI Salary Account holder should be working with Central/ state/ quasi government, central PSUS and profit making state PSUs, educational institutions of national repute and selected corporates with or without relationship with the bank.
