SBI Launches These Two Pre-approved Loans On YONO: Here’s How To Apply

The country's largest lender, State Bank of India (SBI), has launched two pre-approved loan schemes on its YONO platform for the convenience of its retail customers, dubbed 'SBI Easy Ride' and 'Krishi Safal Dairy Loan.' The availability of these two pre-approved loans allows eligible customers to apply without having to visit their bank branch. Customers can apply for the Easy Ride loan via the SBI YONO app for an amount up to Rs 3 lakh with a minimum loan amount of Rs 20000 at an attractive interest rate of 10.5 percent per annum for a maximum loan tenure of 4 years. According to the bank, this scheme allows for loans of up to 85 percent of the vehicle's on-road price to eligible borrowers.

On the other hand, SBI has also launched 'YONO Krishi Safal Dairy Loan' on its YONO mobile banking platform to fulfill the farming needs of eligible farmers. "A financial armour for dairy farmers! Apply for Pre-approved Loan under Corporate Tie-up and enjoy benefits like low Interest Rate, fast processing and more," SBI has said via a Tweet. In order to apply for the scheme, the bank offers some amazing benefits to the customers such as zero collateral, easy to apply, low-interest rate, and fast processing.

SBI has its digital banking platform for customers under "YONO Mobile App" and "YONO website. Here " YONO" stands for "You Only Need One." Customers may manage all of their banking or account-related services from SBI bank accounts, SBI Cards, SBI Mutual Funds, SBI Life Insurance, SBI General Insurance, and SBI Securities using the YONO App and website from the convenience of their home.