SBI Pre Approved Loan

Disclaimer: State Bank of India (SBI) is not a partner of MyMoneyMantra for personal loans. All information is for reference only. MyMoneyMantra has no affiliation, sponsorship, or connection with SBI for personal loans. For details on SBI personal loans, please contact SBI directly.

The key features of SBI pre approved personal loans are mentioned below:

• Loan amount: You can get minimum Rs. 24,000 and maximum Rs. 20 Lakhs loan amount under SBI YONO loan.
• Rate of interest: SBI YONO personal loan interest rate starts from as low as 13.30% p.a. And can go up to 15.65% p.a., depending on the loan type and amount.
• Tenure of repayment: The tenure can vary from 6 months to 6 years. The maximum tenure for pre-approved pension loans can be up to 84 months.
• Processing fee: Up to 1.50% of the loan amount, minimum Rs. 1,000 + GST and maximum Rs. 15,000 + GST will be charged as processing fee.
• Prepayment & foreclosure charges: Nil charges if the loan account is closed from the proceeds of a new loan account under the same scheme. 3% of the prepaid amount will be charged otherwise. 
• Instant disbursal: You can avail PAPL SBI instantly on 24*7 basis from the convenience of your home through YONO app in just 4 clicks.

• SBI PAPL loan is an offer available to only selected customers only after fulfilling the terms & conditions applicable thereof.
• Applicants should have a Salary Account with SBI or another bank.
• Applicant’s age should be at least 21 years when applying for the loan and not above 58 years at loan maturity.
• For Pre-approved Personal Loan for pensioners, the maximum age should be below 76 years and the pension payment order (PPO) must be maintained with SBI.
• Minimum 1 year work experience is required.
• The applicant must be earning a minimum monthly income of Rs. 15,000 for SBI pre approved loan.
• The EMI/NMI Ratio should be below 50%.
• Employees should be working with central/state/quasi government, central PSUs, profit making state PSUs, educational institutions with national repute, or selected corporates with/without banking relationship with SBI.

For SBI PAPL eligibility check, send SMS “PAPL<space><last 4 digits of SBI Savings Bank Account No.>” to 567676. 

• Duly filled & signed loan application with 2 passport size photographs are required for YONO SBI personal loan.
• Identity proof (photocopy of any one): PAN Card, passport, driving license, voter’s ID or aadhar card.
• Residence proof (photocopy of any one): Recent telephone bill or electricity bill, passport, property tax receipt or voter's ID card.
• Income proof for salaried: Copy of ID card issued by the employer, bank statements of the last 6 months salary account, and Income Tax Return (ITR).
• Income proof for self-employed: Income Tax Return, last 6 months' salary slips or bank statements, and last 2 years’ ITR & account statements.

**You can check FREE Credit Score online by PAN number on our MyMoneyMantra website.

If you have an account with SBI, you can avail Pre-approved Personal Loan (PAPL) instantly on 24*7 basis at your convenience through YONO app with just 4 clicks. At present, SBI YONO personal loan is offered to a pre-select category of customers on certain parameters pre-defined by SBI.

Steps to apply for SBI Pre-approved YONO loan:

• Step 1: Login to YONO app.
• Step 2: Click on the Avail Now button.
• Step 3: Select the desired tenure and amount.
• Step 4: Enter OTP to get the amount credited to your account instantly.