SBI Customers Can Now Avail Loans Up To ₹5 Lakh Without Visiting A Branch

Arranging funds quickly during emergencies often becomes stressful, especially when time and paperwork are involved. To simplify this process, the State Bank of India has rolled out a special digital loan facility for its customers. Designed to offer fast access to funds, the Real Time Express Credit scheme allows eligible customers to take personal loans worth several lakhs without visiting a bank branch. With a fully online process, the scheme is aimed at meeting urgent financial needs with ease and speed.

What Is SBI Real Time Express Credit Scheme

The Real Time Express Credit scheme is a digital personal loan facility introduced to make borrowing faster and more convenient. Under this scheme, customers can apply for a loan directly through the YONO mobile app, eliminating the need for physical documentation or branch visits.

The loan is intended to support expenses such as medical emergencies, education costs, weddings or other immediate financial requirements. By using digital verification and automated checks, the bank ensures that the loan process is completed within minutes.

Loan Amount And Key Features

Under this special SBI scheme, customers can avail loans ranging from ₹1 lakh to ₹35 lakh. The entire application process is paperless and does not require filling out lengthy forms.

Once a loan offer is generated, eligible customers can accept it instantly through the YONO app. The emphasis is on speed, convenience and transparency, making it one of the fastest personal loan options available to SBI customers.

Who Is Eligible For The Loan

The facility is primarily available to SBI salary account holders. Employees of the Central and State Governments, defence personnel and salaried individuals working in the corporate sector with SBI salary accounts can apply.

Eligibility is assessed automatically by the bank’s system. If a customer qualifies, the loan offer appears directly in the YONO app, allowing them to proceed without external verification or manual intervention.

Fully Digital And Paperless Process

One of the standout features of this scheme is its completely digital process. Aadhaar-based OTP verification is used to confirm identity, while the bank’s system evaluates the applicant’s credit profile instantly.

The CIBIL score plays a significant role in approval. Customers with a score between 650 and 700 generally find it easier to secure the loan. After completing the electronic signature, the approved amount is credited directly to the customer’s bank account, often within minutes.

Interest Rates And Loan Security

The loan is offered at competitive interest rates linked to the two-year marginal cost of funds-based lending rate. Once the rate is fixed, it remains unchanged for the entire tenure, providing predictability in repayments.

There are no hidden charges, and customers with strong income profiles and good credit history can access higher loan limits. The transparency in pricing adds to the scheme’s appeal among salaried borrowers.

Why Digital Loans Are Gaining Popularity

Digital loan schemes like this reduce dependence on informal borrowing sources such as moneylenders or chit funds, which often charge high interest. The backing of a large public sector bank ensures security and trust.

With just a smartphone and internet access, customers can apply for loans anytime and from anywhere. Personal data is protected through secure digital systems, making the process both fast and reliable.

For SBI customers seeking immediate financial support without complications, this digital loan scheme offers a practical and efficient solution.