SBI loan in 45 minutes - SBI FD scheme

Get SBI loan in 45 minutes

The country's largest lender, State Bank of India (SBI), is offering emergency loans to its customers amid coronavirus lockdown under its 'Emergency Loan Scheme'. SBI users can get up to Rs 5 lakh as loan within "45 minutes", the lender stated on its YONO app.
The interest rate of the loan is at 10.5 per cent and EMIs (equated monthly instalments) will start after a period of six months, SBI further mentioned.

"SBI EMI for this emergency loan will begin after six months when the loan borrower will have some breathing space and coronavirus lockdown impact on one's income has reduced," it said.
To check the eligibility, one can SMS "PAPL (space) last four digit of SBI account number" to 567676.  BajaFinserv free loan and Reliance personal loan

How to apply for SBI's emergency loan via YONO app?

• Download YONO SBI app and click on 'Pre-approved Loan'
• Select tenure of the loan and amount
• OTP (one-time password) will be sent to the registered mobile number
• The loan amount will be approved once the OTP is submitted
• This emergency loan scheme can be applied online or through YONO app.
• Meanwhile, SBI has slashed benchmark lending rate by 15 basis points (bps), and also introduced special deposit scheme for senior citizens with higher interest rate.
• The country's largest lender has introduced a new product 'SBI Wecare Deposit' for senior citizens in the retail term deposit segment to safeguard their interests in the current falling rate regime.
• Under this new product, an additional 30 bps premium will be payable for senior citizens retail term deposits with '5 Years and above' tenor only, it said.

The scheme will be in effect up to September 30, the lender added.  One Nation One ration card

SBI has launched a special fixed deposit scheme 

    SBI has launched a special fixed deposit (FD) scheme for senior citizens called ‘SBI Wecare Deposit’. SBI says this has been done to safeguard the interests of senior citizens in the current falling rate regime.  PM Rojghar Yojana

     State Bank of India (SBI) has launched a special fixed deposit (FD) scheme for senior citizens called ‘SBI Wecare Deposit’. This has been introduced in the retail term deposit segment to safeguard the interests of senior citizens in the current falling rate regime in the time of coronavirus pandemic.

    SBI says under this new scheme, an additional 30 basis points (bps) premium will be payable for senior citizen’s retail term deposits with “5 Years & above" tenor only. Lic Kanyadhan Yojana

   The ‘SBI Wecare Deposit’ scheme would be in effect upto 30 September 2020. Thus, the effective rate of interest for retail term deposits of senior citizens will be:  Jagan Anna vidhya Deevana

    For FD with tenor ‘below 5 years’: 50 bps higher than the rate applicable for the general public.
For FD with tenor ‘5 years & above’ (new product): 80 bps higher than the rate applicable for the general public (30 bps extra premium).This additional premium will not be payable in case of premature withdrawal of such deposits. Currently, SBI offers interest rate between 4% to 6.20% on FDs maturing in 7 days to 10 years. "Stree swabhiman yojana"

     SBI has further lowered interest rates on FD's by 20 bps with effect from 12 May. Apart from this, SBI has also announced the reduction in its MCLR by 15 bps across all tenors. According to the release, "The one year MCLR comes down to 7.25 percent per annum from 7.40 percent annum p.a. with effect from 10 May 2020." Jio celebration pack