If you need a lot of money for any work, then SBI’s loan can be useful for you. There is no need to mortgage the property or guarantee to take a loan in this case. You can take an SBI loan in two ways. One online and the other offline. Let’s know about this in detail.
Online application for SBI personal loan
For this, you have to go to the official website of SBI and choose the option of a personal loan.
After this, choose the loan according to your needs and click on ‘Apply Now’.
Now, enter your information and upload the necessary documents.
After applying, it will be verified,d and the loan will be approved. After this, the money comes to the account within a few hours.
You can do this work online from home. You will not have to go to the branch.
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Apply with the YONO SBI app
First of all, log in to the YONO app.
After this, choose the loan option.
If there is already a loan offer, then just enter PAN, date of birth and email.
After this, choose the loan amount, EMI date and duration.
After digital signing and OTP verification, the money is transferred to the account.
How will you get a loan of up to 2.5 lakhs without documents?
How to apply offline?
For this, go to the nearest SBI branch.
Take the application form here.
Submit Aadhaar card, PAN card, salary slip or bank statement and passport size photo,oetct,c. along with the application form.
The bank will check all your details.
If everything is correct, the loan is approved.
After this, the money will be transferred to the account.
What will be the interest rate and loan duration?
Personal interest rates in SBI Bank are 10.per centent to 15per centcent per annum. It depends on salary, credit score and loan product.
SBI Xpress Credit loan interest rates range from 1per cent to per cent.
A loan of up to Rs 20 lakh can be taken from the bank for a period of 6 months to 6 years.
Eligibility and required documents
This loan can be taken by salaried employees, pensioners or people receiving regular income.
The salary should be a minimum of Rs 15,000 per month.
Documents like proof of identity and address, income proof and passport size photo will be required.
If the credit score is 700 or above, the loan is available quickly and at a lower interest rate.
Pay attention to these things before applying
Plan about EMI in advance.
Take the help of the SBI EMI calculator.
Late payment spoils the credit score.
Always read the processing fees, pre-payment charges and insurance terms.