SBI Patrons Fixed Deposit Scheme: Pre Approved personal loan- PAPL is one of the famous loan scheme of SBI where bank will instantly provide loan offer to the customer according to their banking history. People who already have a bank account and SBI are receiving their loan approvals within a few minutes. So if you are also facing financial issues and getting difficulties to get loan approval then you can check the SBI PAPL features in this article including the eligibility criteria, application procedure, interest rates, tenure etc. it will help you to Understand the pre approved loan procedure in SBI.
SBI pre approved loan 2025
Pre approved loan are a type of loan program provided by banks and landing companies to their existing users. Banks analyse the transaction activities of the customer and after that automatically offer a loan amount to their uses. State Bank of India is also running pre approved loan program known as PAPL. The loan is available on the SBI mobile banking app YONO. Individuals are not required to provide detailed application details as bank will already have your information in their database. Apart from this it will paperless loan application where we will get instant loan approval within few minutes as Bank already evaluated your eligibility before providing you PAPL loan offer.
Features of SBI PAPL loan program 2025
- The loan is offering up to 20 Lakh loan amount to their users who are using SBI mobile application or internet banking for a long time and continuously participating in banking activities.
- Individuals will get a tenure of maximum 5 years to repay the loan amount with easy EMIs.
- Apart from other loan programs, you are not required to visit bank branch for contact to the bank representative to apply for the pre approved loan.
- The loan facility is available 24×7 on the official website of SBI YONO so you can apply anytime for the personal loan under PAPL category.
- There is no physical documentation required to apply for personal loan interest program however it will ask you to upload your in documents in PDF for JPEG.
- Bank will instant verify your details using Aadhar Card and PAN card and will release the loan amount directly in bank account within few minutes.
SSC GD Admit Card 2025 OUT | लिखित परीक्षा 04 से 25 फरवरी तक निर्धारित, जाने सम्पूर्ण जानकारी!
Interest rates of PAPL loan
State Bank of India is offering pre approved personal loan to their existing customers with suitable interest rates. Minimum interest rates are starting from 13.30% annual interest and it will go up to 15.65% annually according to the condition of the applicant. Apart from the interest rates, bank will also detect processing fees of 1.5 0% of the loan amount which should not be less than 1000 rupees and maximum amount of Rs 15000 rupees can be deducted according to the loan offer.
Eligibility criteria for Pre Approved Personal Loan
Your required to check the following eligibility criteria as the following eligible candidates are only offered pre approved personal loan by SBI in YONO mobile application:
- All customers of SBI are eligible to get the offer of preapproved personal loan.
- The customer should have installed SBI YONO Mobile Banking application in the smartphone to get the loan offer.
- The minimum age of the applicant should be at least 21 years old while applying for the personal loan
- It is required to have at least 15000 rupees per month salary which is receiving in account in SBI to get the loan offer.
- The CIBIL score of the applicant should be good and more than 750 to get higher loan offer with minimum interest.
Important documents list
Customers are required to Prepare soft copy of the following documents which will be uploaded on the mobile application of SBI YONO while applying for PAPL personal loan:
- Aadhar card of the applicant
- PAN card of the applicant
- Last six month Bank salary slip
- Latest passport size photograph
India Post Office Vacancy 2025 | 40,000 + पदों पर बंम्पर नियुक्तियां, जल्द जारी होगी अधिसूचना !
Application procedure for Pre Approved Personal Loan
You are required to follow the following step by step procedure to fill the application form of PAPL in SBI to get instant loan approval:
- First of all download the SBI YONO mobile application in your device
- It is important to install the app in the smartphone where the mobile number of the applicant is used in SBI. so it will help Bank to complete the verification procedure
- Now you are required to create your online banking account, or if you are already using SBI YONO then you need to only login on the dashboard
- After this you will see the loan of a link on the top of the app where you need to find the PAPL loan offer
- Now you will see multiples according to your income conditions where you need to click on the specific loan and have the provide your basic details
- After that it will ask you to enter the loan amount which you want to get and prepare the EMI to repay the loan.
Once you verify your all the details, you will get final OTP for verification and after entering the OTP, authority will release loan amount in your bank account instantly after detecting the processing fees and other charges.
Frequently Asked Questions (FAQs)
What is SBI Patrons Fixed Deposit Scheme?
The Scheme enables super senior citizens to make deposits for periods ranging from 7 days to 10 years. An option for early withdrawal is available. Nonetheless, it will incur the standard penalties applicable to term deposits.
What is Pre Approved Personal Loan?
A pre-approved personal loan is a loan offered by a bank or financial institution to a customer who has been evaluated and deemed eligible in advance. This indicates that the customer doesn’t need to go through the usual application process.
What is the Interest Rate of Pre Approved Personal Loan (PAPL)?
Minimum interest rates are starting from 13.30% annual interest and it will go up to 15.65% annually according to the condition of the applicant.
What is the amount offered by SBI PAPL Loan Program 2025?
The loan is offering up to 20 Lakh loan amount to their users who are using SBI mobile application or internet banking for a long time and continuously participating in banking activities.