The SBI Pre-Approved Personal Loan (PAPL) is a 100% digital loan designed for SBI customers who are eligible for instant credit. With just a few clicks on the YONO SBI App, you can get up to ₹20 lakh credited instantly into your account — no paperwork, no branch visit, and no waiting time. This guide covers eligibility, interest rates, and complete steps to apply.
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🌟 What is an SBI Pre-Approved Loan?
It’s a personal loan offered to selected SBI customers based on their account activity, salary credits, and credit score. If you receive an SMS or message in your YONO app stating you are “eligible for a pre-approved loan,” you can avail the loan instantly without submitting any documents.
✅ Key Features
- Loan Amount: ₹10,000 – ₹20,00,000
- Tenure: 6 months to 6 years
- Interest Rate: Starting from 10.10% per annum
- Zero documentation required
- Instant approval & disbursal in 2 minutes
- Available 24×7 through YONO SBI app
🧾 Eligibility Criteria
- Existing SBI customer with active savings/salary account.
- Good repayment record and satisfactory CIBIL score.
- Regular salary credits or consistent account activity.
- Offer visible in the YONO app or received via SMS/email.
📋 Required Documents
No documents are required if you’re pre-approved. For manual approval, you may need:
- PAN and Aadhaar card
- Salary slip (for verification)
- Employment proof (if required)
⚙️ Step-by-Step: How to Apply on YONO SBI App
- Open the YONO SBI App.
- Login with your SBI internet banking credentials.
- Go to Loans → Pre-Approved Personal Loan.
- Check your eligible amount & interest rate.
- Choose your EMI tenure and confirm your application.
- Loan amount is instantly credited into your account!
💰 Example EMI Calculation
Suppose you take a loan of ₹2,00,000 for 3 years at 10.10% interest:
Monthly EMI = ₹6,480 approx. | Total Interest Payable = ₹33,000 approx.
📱 Top 5 Best Apps to Compare SBI Instant Loans
1️⃣ PaySense
Compare instant pre-approved loans from multiple banks and NBFCs.
2️⃣ KreditBee
Quick digital approval for short-term loans and instant credit offers.
3️⃣ Money View
AI-based loan eligibility check within 2 minutes.
4️⃣ Bajaj Finserv
Fast personal loans with minimal documentation for SBI users too.
5️⃣ CASHe
Ideal for young professionals needing small pre-approved credit instantly.
📊 Benefits of SBI Pre-Approved Loan
- Instant access to cash during emergencies
- Zero paperwork – completely online
- Flexible repayment options
- Minimal interest compared to credit cards
- No hidden charges
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Disclaimer: This content is for educational purposes only. We do not promote or endorse any financial product. Please verify details on SBI’s official website before applying.