SBI Emergency Loan Scheme: The Coronavirus lockdown in India has been extended up to 17th May 2020 and this may lead you to run short of money in your account. To counter such money-related problems, the State Bank of India (SBI) is giving emergency loans to its customers and that too in an extremely short time. The SBI Emergency loan can be availed within 45 minutes and the total amount that can be availed as loan is up to Rs 5 lakh. Full details of the pre-approved SBI personal loan or SBI Emergency loan is available at the official website of the SBI — onlinesbi.comn and sbi.co.in.
According to onlinesbi.com — the SBI loan, which is known as SBI Emergency Loan Scheme, the interest rate levied on the loan borrower is much lower than any other personal loan. The SBI Emergency loan is available at the 10.5 per cent interest rate and SBI EMI for this emergency loan will begin after six months when the loan borrower will have some breathing space and Coronavirus lockdown impact on one’s income has reduced. One can go for 24×7 for SBI Emergency Loan online apply.
Most importantly, to avail of this SBI emergency loan, you need not to go outside, you can do it online by using SBI YONO App. However, before applying for the SBI Emergency Loan, you need to check your eligibility for this SBI loan. You can do this by sending SMS to 567676. The SMS text format is as follows: PAPL(Space)last four digit of your SBI account number. Once you send the SMS, SBI will respond to your eligibility query by replying to your SMS.
After receiving the confirmation from the SBI about the eligiblility for SBI emergency loan, you can apply for this pre-approved SBI personal loan. Here is the step by step guide to apply for this SBI Emergency Loan Scheme during lockdown:
1] Download YONO SBI app on your Smartphone, Android or iOS device;
2] Click at ‘Pre-approved Loan’,
3] Select tenure and loan amount;
4] SBI will send OTP on your registered mobile number;
5] Submit OTP; and
6] SBI emergency loan amount will be credited in your SBI savings account immediately.
This entire process won’t go beyond 45-minutes. So, if you any kind of financial crisis durin the lockdown, you can think of availing this sBI Personal Loan Scheme.