What is a personal loan?
A personal loan is a type of loan which is flexible in nature and can be used as we want.eg to buy a car, home, gold, etc
Pre-approved personal loans will soon be rolled out for all salaried employees by the State Bank of India. These loans will be available to all the employees working with either private or public enterprises in India.
Salaried employees, facing cash flow issues amidst lockdown can apply for the loan using the YONO app, which is SBI’s official app. SBI will check the credit history and payment capabilities of the customers based on which the pre-approved loan will be made available to the eligible customers on the app.