No Emergency Personal Loans Via YONO App, SBI clarified the rumors – State Bank of India (SBI) clarified that it is not giving any type of emergency Personal loans to customers through its YONO platform. There were Some news report stating that the SBI is offering an emergency personal loan of up to Rs 5 lakh within 45 minutes. It also states that the EMI under this loan will start after a period of 6 months. SBI urged their customers to ignore such news, which is completely false.
SBI said on their official twitter handle, “There is widespread news about the SBI Emergency Loan Scheme through YONO. We would like to clarify that SBI is not offering any such loan. We also urge our customers not to believe these rumors. ” However, SBI said it is in the process of starting a pre-approved personal loan offer through YONO to relieve those salaried customers for the economic problems caused by coronaviruses.
SBI has a digital service platform called YONO ie You Only Need One. Through this, SBI provides a one-stop solution to its customers for banking, shopping, lifestyle and investment needs. The app was launched in November 2017.
— State Bank of India (@TheOfficialSBI) May 10, 2020
SBI is offering agricultural gold loan at low interest to the farmers. SBI has launched Agri Gold Loan Scheme. Under this, farmers can take loans according to their need by giving gold ornaments. More than 5 lakh farmers have taken advantage of this amid the lockdown.