Article Body
BOB PNB SBI Instant Personal loan 2026:
In today's times, anyone can face a sudden need for money. Whether it's for medical expenses, children's education, home repairs, or any essential purchase, arranging funds quickly isn't always easy. Understanding this difficulty, major government banks like SBI, PNB, and Bank of Baroda have introduced an Instant Personal loan facility for their customers. Under this facility, customers can receive up to ₹1 lakh directly into their bank accounts.
The best part of this loan is that it doesn't require lengthy paperwork or repeated visits to the bank. The entire process is digital and simple, allowing for quick loan approval. The bank aims to provide immediate financial assistance to its existing customers in times of need, so they don't have to worry about money. This unsecured loan is becoming a reliable option in today's world.
Loan Amount, Interest Rate, Subsidy, and EMI Information
Under the BOB, PNB, and SBI Instant Personal Loan scheme, customers can avail amounts ranging from ₹10,000 to ₹1,00,000. This loan is completely unsecured, meaning no collateral or guarantor is required. The interest rate typically starts from 10.50 percent and can go up to 14 percent, depending on the customer's credit score and the bank's policy.
The loan repayment period is set from 12 months to 60 months, allowing customers to choose an EMI plan that suits their convenience. There is no provision for any subsidy on this loan, but the easy installments and flexible tenure make repayment less burdensome. The EMI amount is determined based on the loan amount, interest rate, and tenure, and the entire amount is transferred directly to the bank account.
Eligibility for BOB PNB SBI Instant Personal Loan
The applicant must be at least 21 years old, and the maximum age limit is 58 years, ensuring that the applicant is able to repay the loan throughout its entire tenure. The applicant for the loan must have an account with SBI, PNB, or Bank of Baroda, and the account must have been active for at least the last 6 months.
If the applicant is salaried, their minimum monthly income should be ₹15,000, and the salary should be credited regularly to the bank account.
Self-employed applicants must have regular transactions in their account so that the bank can assess their income and financial status.
The applicant's CIBIL Score should be at least 700 or higher, as a good credit score increases the chances of loan approval.
The customer's bank record should be clean, and there should be no outstanding dues on any previous loans or credit cards.
Documents required for BOB PNB SBI Instant Personal Loan:
Aadhaar Card
PAN Card
Passport size photograph
Income Proof
Bank Statement
Address Proof
Also Read: Get a loan of up to ₹10 lakh for goat farming with a 50% subsidy, apply like this
How to apply for BOB PNB SBI Instant Personal Loan?
The application process for the BOB PNB SBI Instant Personal Loan is quite simple. If you want to apply online, first visit your bank's official website or mobile app and select the Personal Loan option. Fill in your basic information such as name, mobile number, PAN, and income details. Then select the loan amount and tenure and upload the required documents.
After filling in the information, verify it through the OTP received on your mobile number. The bank will then check your profile and credit score, and if found eligible, the loan will be approved. Upon approval, the amount will be directly transferred to your bank account. Customers who do not wish to use the online process can visit their nearest SBI, PNB, or Bank of Baroda branch, fill out the application form, and submit the documents. After all formalities are completed, the loan amount will be credited to the account.
For more articles related to finance,credit cards,insurance you can also visit to the website given below
Comments