SBI scheme: Big News! Get 3 lakhs sitting at home in a jiffy, know the process

You can take advantage of ‘end-to-end digital two-wheeler loan’ through SBI’s YONO app. Under this scheme, a customer can get a ‘two-wheeler loan’ up to a maximum of Rs 3 lakh. 

SBI Easy Ride: The country’s largest public sector bank State Bank of India (SBI) has announced the launch of a pre-approved two-wheeler loan scheme ‘SBI Easy Ride’. Under this scheme, if you are an eligible customer, you can get a loan without visiting a bank branch.

You can take advantage of ‘end-to-end digital two-wheeler loan’ through SBI’s YONO app. Under this scheme, a customer can get a ‘two-wheeler loan’ up to a maximum of Rs 3 lakh. For this, 10.5% interest will have to be paid on the loan of 3 lakhs for the maximum duration of 4 years. The minimum loan amount in this scheme has been fixed at Rs 20,000.

Features of ‘SBI Easy Ride’

• Under ‘SBI Easy Ride’ loan up to 3 lakh will be available.
• Customers will be able to take a loan of up to 85% of the on-road price of the vehicle as per their eligibility.
• This loan will be given for a maximum period of 48 months.
• The loan amount will be transferred to the dealer’s account.
• SBI customers can avail end-to-end digital two-wheeler loan through YONO app without visiting a bank branch.

SBI has said that in the midst of the current digital transformation, SBI continues to make efforts to provide banking facility to the customers at their doorstep through the YONO app. Launched in November 2017, the YONO app has 89 million downloads and over 42 million registered users. SBI has partnered with more than 110 e-commerce companies in more than 20 categories on YONO.

Country’s largest public sector bank

Significantly, SBI is the second largest public sector bank in the country. State Bank of India is the largest commercial bank in terms of properties, deposits, branches, customers and employees. It is also the country’s largest mortgage lender or mortgage lender bank, which has so far fulfilled the dream of buying a home of 3 million Indian households. So far Rs 5 lakh crore has been added to the home loan portfolio of the bank.