State Bank of India (SBI) has launched personal loan product ‘Xpress Credit’ for salaried customers on its YONO digital banking platform.
Eligible customers will now be able to avail personal loans (Real Time Xpress Credit/RTXC) up to ₹35 lakh via YONO, without any paperwork, the country’s largest bank said in a statement.
“Under Real Time Xpress Credit, Central/State government and defence salaried customers of SBI will no longer be required to visit the branch for availing a personal loan. The credit checks, eligibility, sanction and documentation will now be done digitally in real-time,” the bank said.
Dinesh Kumar Khara, Chairman, SBI observed that the Xpress Credit product will enable the bank’s customers to experience a digital, hassle-free, and paperless loan process.