Loan App Details & Reputation
App Name
YONO SBI
Tagline/Description
Your one-stop shop for all your banking, loans, investments, and shopping needs.
Developer/Company Name
State Bank of India (SBI)
Website URL
Social Media Handles
Facebook: @StateBankofIndia | Twitter: @TheOfficialSBI | LinkedIn: State Bank of India
Contact Information
Phone: 1800 11 2211 (toll-free)
License and Registration Details
Public Sector Bank (regulated by the Reserve Bank of India)
Latest News/Updates
July 2024: SBI launched a new feature in YONO allowing customers to apply for pre-approved personal loans instantly.
Loan Details
Loan Amount (Minimum and Maximum)
Varies based on loan type and eligibility.
Interest Rate (Daily, Weekly, Monthly, Annually)
Competitive interest rates, vary based on the loan type, borrower’s credit profile, and prevailing market conditions.
Loan Tenure (Minimum and Maximum)
- Varies based on the type of loan.
Repayment Options
EMI through auto-debit.
Fees (Processing, Late Payment, etc.)
Processing fees and other charges vary based on the type of loan.
Eligibility Criteria (Age, Income, Credit Score, etc.)
- Eligibility criteria vary based on the type of loan. Generally, a good credit score and steady income are required.
Documents Required
Varies based on the type of loan but typically includes KYC documents (PAN, Aadhaar), income proof, and bank statements.
Loan Purpose
Wide range of purposes including personal loans, home loans, car loans, education loans, etc.
App Ratings and Reviews
Google Play Store Rating
4.2 Stars
Apple App Store Rating
4.4 Stars
User Reviews and Feedback
Positive Reviews
User-friendly interface, wide range of banking and financial services, convenient loan application process.
Negative Reviews
Some complaints about occasional technical issues, customer service response time, and complexities in loan processing for some users.
Customer Support
Contact Channels
In-app support, phone banking, email, branch visits
Support Hours
24/7 phone banking support
FAQs and Knowledge Base
Extensive FAQs and help section available on the website and app
Loan Disbursal and Repayment
Disbursal Time
Varies based on the type of loan and verification process, can range from a few hours to a few days.
Repayment Options
Primarily through EMI (Equated Monthly Installments).
Late Payment Fees and Penalties
Late payment and prepayment charges apply as per the terms of the loan agreement.
Regulatory Compliance
RBI or NBFC License Details
Public Sector Bank, regulated by the Reserve Bank of India
Compliance with Indian Banking Regulations
Yes
Data Protection and Privacy Compliance
Complies with Indian data protection laws
Step-by-Step Guide to Using MoneyTap
Download and Install
Find the YONO SBI app on Google Play Store or Apple App Store and install it.
Google Play Store Link
Apple Store Link
Registration
Register using your SBI account details or create a new account if you don’t have one.
Login
Log in to the app using your credentials.
Explore Loan Options
Navigate to the “Loans” section and browse the available loan products.
Check Eligibility
Use the eligibility calculator to see if you qualify for the loan.
Apply
Fill out the loan application form with the required details.
Upload Documents
Upload the necessary documents as instructed.
Await Approval
Wait for the loan approval decision.
Disbursal
If approved, the loan amount will be disbursed to your SBI account.
Disclaimer
The information presented in this document regarding loan apps is intended for general informational purposes only and is current as of the date of this post. It is compiled from sources believed to be reliable, including official websites, app stores, and user reviews. However, the financial landscape, app features, interest rates, and terms can change rapidly.
Instantloansindia does not endorse any specific loan app or guarantee the accuracy, completeness, or timeliness of the information provided. It is crucial that users verify all information directly with the respective loan app or financial institution before making any financial decisions.
Instantloansindia shall not be held liable for any damages, losses, or liabilities arising from the use or reliance on the information herein. Users are solely responsible for their financial choices and should consult with qualified professionals for personalized financial advice.