SBI’s Xpress Credit loan is now available on the YONO app – A salaried person looking for a personal loan should read this | Personal finance news

New Delhi: The country’s largest lender, State Bank of India (SBI) has launched Real Time Xpress Credit (RTXC) on YONO.

“The bank’s flagship personal loan product for salaried customers – Xpress Credit now has a digital avatar. Customers can now avail RTXC from the comfort of their own home through YONO – which will be 100% paperless and digital. end An 8-step journey would be easy and instantaneous for customers,” the SBI statement said.

Under Real Time Xpress Credit, SBI Central/State Government and Defense salaried customers will no longer be required to visit a branch for a personal loan. Credit checks, eligibility, sanctioning and documentation will now be done digitally in real time.

Dinesh Khara, President of SBI, said, “We are delighted to introduce the Real Time Xpress Credit (RTXC) loan facility for our eligible salaried customers on YONO. The Xpress Credit product will allow our customers to experience a digital, hassle-free and paperless lending process. At SBI, we are constantly striving to provide customers with an enhanced, technology-driven digital banking experience to simplify banking.

Digitizing Xpress Credit delivery will also help the bank get rid of the need to manage and store huge documents, SBI added.

YONO, which has 4.83 crore registered users, saw nearly 1 crore average daily logins in the fourth quarter of FY22. In terms of digital lending, the bank disbursed pre-approved personal loans of worth Rs. 6,477 crores via YONO during the same period. SBI also has the largest number of Facebook and Twitter followers of any bank in the world, SBI added.

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