average reports has stated that the public lender is offering emergency loans of up to Rs 5 lakh within ‘45 minutes ’. The loans will be given at an interest rate of 10.5 percent and EMIs start after a six-month period, reports said.
“A news report on ‘SBI Emergency Loan Scheme via YONO’ is widely reported. We would like to clarify that SBI does not offer such a loan at the moment. We also encourage our clients not to believe in these rumors,” the bank said in a statement .
However, SBI said it is in the process of introducing a pre-approved personal loan offer through YONO to provide relief to its employees who have cash flow problems due to the COVID-19 crisis.
YONO, or ‘You Only Need One’, is a digital service platform from SBI that provides its customers with all-in-one solutions for banking, shopping, lifestyle and investment needs.
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