- The loan can be applied for at any time 24 hours a day, 7 days a week
- SBI is offering this facility through its YONO app
SBI launches new facility, the bank is providing home emergency loans for small businesses
Lockdown is underway across the country due to Corona virus. Which is causing huge damage to the country’s economy. SBI News Loan Facility 2020 SBI has launched a special facility to avoid shortage of funds in such a situation. If you have to take a loan from home, SBI is offering emergency loans for small businesses. No installment has to be paid on such loan for 6 months. It will have to repay the loan at a concessional rate of 7.25% for the next six months. SBI is offering this facility through its YONO app.
Important things associated with this loan
- The loan can be applied for at any time of the week and 24 hours a day.
- In addition, the processing fee will be very low.
- You can also check your eligibility before applying for a loan.
- This will let you know if you will get this loan or not.
How to get SBI Emergency Loan?
- You have to send an SMS to 567676 by typing the last 4 numbers of the PAPL <account number.
- You will then be told in the message whether you are eligible for the loan or not. The right customer will get the loan in just 4 steps.
- Step 1 – Log in by downloading the SBI YONO app.
- Step 2 – Click on Avail Now in the app.
- Step 3 – Then select Tenure and Amount.
- Step 4 – Then OTP will come to the registered number. The amount will be credited to your bank account as soon as you enter the OTP.
- Before applying for a loan, go to SBI’s website https://bank.sbi/web/personal-banking/loans/personal-loans/pre-approved-personal-loans to get complete information about other important conditions including interest rates.