New Delhi:
The country’s largest lender, the State Bank of India (SBI), has launched Real-Time Xpress Credit (RTXC) on YONO.
Xpress Credit is the bank’s personal loan product for salaried customers, which will be available digitally.
SBI stated that eligible customers can now get personal loans of up to Rs 35 lakh through YONO, without any paperwork.
“Under Real-Time Xpress Credit, the central/state government and defense of the bank no longer need to visit the branch to take out a personal loan,” the bank said.
“The credit checks, eligibility, sanction and documentation will now be done digitally in real time, it added.
SBI chairman Dinesh Kumar Khara noted that the Xpress Credit product will enable the bank’s customers to experience a digital, hassle-free and paperless lending process.
