SBI Personal Loan: Big opportunity! Single missed call, SMS can give you this massive benefit

SBI customer can give a missed call or send an SMS and in return the largest lender in India will give quick approval and instant disbursal of SBI personal loan amount in one's SBI Savings Account.

ZeeBiz WebTeam | Feb 25, 2021, 09:34 AM IST

SBI Personal Loan: The State Bank of India (SBI) has introduced SBI’s Xpress Credit Personal Loan service for its salary account holders. In this service, a SBI customer can give a missed call or send an SMS and in return the largest lender in India will give quick approval and instant disbursal of SBI personal loan amount in one's SBI Savings Account.

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SBI Personal Loan interest rate

SBI Personal Loan interest rate

As per the SBI claims on its official twitter handle, the loan is approved with minimal documentation. The SBI Personal Loan interest rate levied in this missed call and SMS service is 9.60 per cent, which is lowest among all Indian banks. Photo: Reuters

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How to get this SBI Personal Loan

How to get this SBI Personal Loan

The SBI loan amount that a SBI Salary Account holder can avail in this SMS and missed call service is from Rs 25,000 to Rs 20 lakh. Photo: Pixabay/PTI

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Overdraft (OD) facility also available

Overdraft (OD) facility also available

This service also provides overdraft loan amounts from Rs 5 lakh to Rs 20 lakh provided the customer has paid EMIs in the first loan on time. Second Loan is eligible any time after disbursement of first loan, subject to the overall EMI/NMI ratio of 50 per cent. Photo: Pixabay

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SBI Personal Loan without guarantor/security

SBI Personal Loan without guarantor/security

Interestingly, this SBI Personal Loan will be given without any guarantor or security. Photo: Reuters

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SBI Tweets about the facility

SBI Tweets about the facility

SBI informed about the service from its twitter handle with a link that claims, "Whether it’s your wedding or a vacation, unplanned emergency or planned purchase, get quick approval and instant disbursal with minimal documentation through SBI’s Xpress Credit Personal Loan for all your needs," adding, "Give a Missed Call on 7208933142 or SMS “PERSONAL” on 7208933145 to get a call back from our Contact Centre." Photo: Reuters

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Eligibility criteria for instant SBI Personal Loan

Eligibility criteria for instant SBI Personal Loan

Individuals with Salary Account with SBI; minimum monthly income Rs 15000 per month; EMI/NMI Ratio less than 50 per cent; and SBI Salary Account holder should be working with Central/ state/ quasi government, central PSUS and profit making state PSUs, educational institutions of national repute and selected corporates with or without relationship with the bank. Photo: Reuters