You can now get a SBI personal loan by giving a missed call or SMS; check details here

Npnews24 : 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. The interest rate of this loan is currently capped at 9.6%

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.”

Features of SBI Xpress Credit Loan Personal:

Loan sanction is up to Rs 20 lakh.
Low interest rates.
Interest on daily reducing balance
Lower processing charges
Minimum documentation
Zero hidden costs
Provision of a second loan
No security, no guarantor

Who can avail the loan?

He or she must have a minimum income of Rs 15,000 per month
One can get a minimum and maximum loan amount of Rs 25,000 to Rs 20 lakh
He or she must have a salary account with SBI
Employees employed at Central PSUs or state PSUs, Educational institutions of India and Specified companies with or without a bank partnership.