If you hold an account in SBI, you can apply for a pre-approved loan of 1 lakh rupees in just a few simple steps! Customers of State Bank of India can use the YONO app to apply for the loan at their convenience. This feature is accessible 24X7 on the app. 

This availability of a pre-approved loan indicates that the bank has considered you eligible for the loan with minimum documentation required. 

So, let’s check out all the details you need to know about the SBI YONO 1 Lakh loan.

The SBI YONO Personal Loan Key Features

As per the press release provided by SBI, below are the major features of the loan:

  • Pre-approved: You can check your eligibility for a pre-approved loan on the YONO app or SBI website. If you are pre-approved, you can get a loan of up to Rs. 15 lakh without any documentation or branch visit.
  • Instant processing and disbursement: Once you have applied for a loan, it will be processed and disbursed instantly, 24x7.
  • No documentation: You don't need to submit any physical documents to apply for a loan. All the documentation is done digitally through the YONO app.
  • No branch visit: You can apply for and get a loan without having to visit an SBI branch.
  • Competitive interest rates: The interest rates on SBI YONO Personal Loans are competitive with other lenders.
  • Flexible repayment options: You can select from a number of repayment options according to your needs.
  • No hidden charges: There are no hidden charges or fees associated with SBI YONO Personal Loans.

SBI YONO Loan Features and Benefits

Specific Loan Features and Benefits

  • Pre-approved Personal Loan
  • Instant processing and disbursement in just 4 clicks.
  • No physical documentation is required.
  • Available to salaried and non-salaried account holders, pensioners, and family pensioners.
  • YONO Cash
    • Withdraw cash from ATMs, POS terminals, or CSPs without a debit card.
    • A convenient and secure alternative to carrying your card.
  • SBI YONO Insta Home Top-Up Loan:
    • Top up your existing home loan for any purpose (except speculation).
  • Available as an overdraft with low-interest rates.
  • Fully digital process with instant disbursement.
  • Other loan options: SBI YONO also offers various other loan products, including car loans, education loans, and gold loans, each with specific features and benefits.

Additional Benefits:

  • Manage all finances in one app: YONO allows you to manage your accounts, investments, bills, and other financial needs alongside your loan.
  • Exclusive offers and deals: Get special discounts and promotions on various products and services within the YONO app.

SBI YONO 1 Lakh Loan Interest Rates

The SBI YONO 1 Lakh Loan is available at an interest rate starting at 8.5% per annum for salaried professionals. 

Eligibility Criteria for YONO App 1 Lakh Loan

  • SBI PAPL is not a guaranteed loan approval, but rather a pre-approved offer: You still need to fulfil specific terms and conditions for final sanction.
  • Eligibility criteria vary: They depend on factors like account type, creditworthiness, and loan amount.
  • Checking eligibility is straightforward: Use the SMS method or YONO app for SBI PAPL, and consult bank resources for other loan types.

You can SMS “PAPL” to 567676 to check your eligibility.

Documents Required for SBI YONO 1 Lakh Loan

  • Skip the paperwork! Apply for a pre-approved SBI personal loan on the YONO app without submitting any documents.
  • Pre-approved SBI personal loans on YONO are completely paperless. Just a few clicks and you're on your way to getting the funds you need.

Fees and Charges for SBI YONO 1 Lakh Loan

  • Pre-approved SBI Personal Loans on YONO start at just 8.50% p.a., making them a budget-friendly option.
  • SBI waives application fees for pre-approved personal loans through YONO, making the process even more convenient.

How to apply for SBI YONO 1 Lakh Loan

  • Open the YONO app or SBI internet banking.
  • Look for the "Pre-approved Personal Loan" (PAPL) banner and tap on it.
  • Enter your PAN card details and date of birth to check your eligibility.
  • If eligible, choose the loan amount and repayment period that suit you.
  • You will get an OTP on your registered number which you need to enter to confirm your application.
  • That's it! The loan amount will be deposited directly into your account instantly.

So, what are you waiting for?

Go ahead and apply for the SBI personal pre-approved loan through your YONO app today!

FAQs on SBI YONO 1 Lakh Loan

1. I do not have a SBI account. Can I apply for a personal loan?

Yes, you can avail an SBI loan of up to 20 lakh even if you don’t have an SBI account.

2. How can I check my loan eligibility in Yono SBI?

SBI account holders can text "PAPL" followed by the last 4 digits of their account number to 567676 to see if they qualify for a pre-approved personal loan. This is a quick way to check eligibility without needing to log in to the YONO app or internet banking.

3. Can I get a 1 lakh loan from SBI?

Yes, depending on your eligibility you can get loan from SBI. Both pre-approved and standard options offer loans up to 15 lakhs.

4. What is the minimum loan amount for SBI YONO?

The minimum loan amount that you can apply for in SBI is Rs. 25000. 

5. Is a pre-approved personal loan available for all SBI YONO customers?

No, pre-approved personal loans are not available for all YONO SBI customers. You need to meet specific eligibility criteria like income, credit score, and employment type.

6. How much time does it take for the amount to be disbursed in case of a pre-approved loan?

For pre-approved loans, the amount usually gets disbursed within 24 hours, almost immediately, after accepting the offer and completing formalities.