New Delhi: The lockdown in India has been extended till May 17 due to Coronavirus. In such a situation, people’s financial troubles are increasing. Now, in view of these problems facing the people, State Bank of India (SBI) has come up with a special scheme for the common people.
The bank has named it Emergency Loan Scheme. You do not need to go to the bank branch to take this loan. The entire process for this loan sitting at home will be completed in 45 minutes. The maximum you will get a loan of five lakh rupees.
The application will have to be done here.
SBI’s official websites onlinesbi.com and sbi.co.in have been told that you can apply by visiting YONO app. The bank has also kept the interest rate low on this loan. The bank is charging interest at the rate of 10.5 per cent. The EMI of the loan will also start after six months, which will give some relief in Corona period.
This work will have to be done before taking a loan.
However, before applying for a loan, you have to send an SMS to 567676. The format of SMS will be as follows (Space). After this, you will reply to your SMS, in which you will know how much loan the bank can give you.
Follow these steps to get a loan:
Download the Yono SBI app on your mobile phone.
Click on pre-approved loan.
Select the loan term and amount.
SBI will send an OTP to your registered mobile number.
Submit to OTP after this.
After submitting the OTP, the loan amount will be transferred to your savings account.