How The SBI Personal Loan For Govt Employees is Useful?

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Posted on: 03/25/20

It always seems difficult to apply for a loan from the bank. But, SBI makes this statement false by giving instant approval to the loan. You can get the SBI personal loan to meet your financial needs easily with no trouble. And every individual who is salaried and works as a govt employee is eligible for the loan. Read this article and know how the loan helps you and what are its features.

Loan to every individual by SBI!

Whether you are men or women the bank provides loans to every individual irrespective of their age or income. If you are a government employee and have an income of INR 15,000 per month then you can borrow the desired amount from SBI. You must make sure that only the applicant whose salary is disbursed in SBI and working in a PSU, state or central government can apply for the loan. Age of the borrower must be 21 years or above to get the SBI personal loan approved. The bank disburses the loan in your account in one day, after that, you can use the amount for whichever reason you need the fund.

Get a low interest rate on your SBI personal loan!

To get the interest rate of your desire on your SBI personal loan, you need to have a strong credit score and high income. And the SBI personal loan for govt employees the bank offers interest rate from 10.50% per annum. This is the most affordable rate of interest every lender may charge on your loan amount.SBI gives the benefit if your credit score is 700 and above. Because an individual with a good payment record is more credible as a borrower compared to an individual with a low score.

And the payment of your loan starts from the next month onwards after the disbursal of loan amount. Once the loan is disbursed, you can use it quickly without any trouble. SBI personal loans can be used for marriage expenses, medical emergencies, shortage of funds, etc. You can borrow as low as INR 25,000 from SBI.

Apply for SBI personal loan from Yono!

To get your loan use the SBI mobile banking app Yono, which enables your banking experience easier and faster. You donít need to visit the bank branch for processing your loan application. So SBI personal loan for govt employees offers you much more than a loan, it makes your loan issues invisible. To apply for the loan you are required to pay INR 2,000 or 1% of your borrowed amount and the processing fee is nonrefundable.

Now get your loan sanctioned with SBI and solve your every financial needs with it. Payment of the loan can be done in 5 years, and you can choose a suitable tenure for the payment. So whenever you feel it is hard for you to collect funds for an emergency and you don't have a backup for it then apply for an SBI personal loan. You must choose the right payment service for your loan payment from ECS, PDCs, NACH or SI.



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