InvestorQ : What is the SBI emergency loan scheme and how can I apply?
Ayushi Kampani made post

What is the SBI emergency loan scheme and how can I apply?

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Radhika Arya answered.
9 months ago
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As a relief measure to deal with the pandemic, SBI is extending a facility by the name ‘Emergency Loan Scheme’. Under this scheme, SBI users could get a loan up to Rs 5 lakh within 45 minutes. The facility has been extended through the SBI YONO App. The interest rate applicable on the loan shall be 10.5% and EMIs shall start after a period of six months.

How to apply:

Download the YONO SBI app and click on a Pre-approved loan.
Select the time period of the loan and amount you want to borrow.
OTP for verification shall be sent to the mobile number registered with the bank.
Once you submit the OTP, the loan amount shall be approved.
You can also use net banking to get access to a pre-approved loan.
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