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Now the Divorced daughters will also be eligible for the Family Pension in Uttar Pradesh 2022

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The Yogi government of Uttar Pradesh has taken a new decision regarding the rights of daughters. Under which now divorced daughters will also be entitled to get a family pension.

In this order of the state of Uttar Pradesh, it has been said that any person who was in government services or is a pensioner or his/her spouse’s divorced daughter shall get a family pension.

Even if she had divorced while her parents were alive, the action must have been filed in a competent court, and after that their parents have died and their daughter has been divorced.

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Divorced daughters will also be eligible for the Family Pension in Uttar Pradesh 2022

The Uttar Pradesh government has said in its order that if any divorced daughter wants to ensure the eligibility of her family pension, then she must first fulfill all the conditions for this.

Earlier it was a rule that any Government man or woman or any pensioner or woman and or her spouse on whom her divorced daughter is wholly dependent is also entitled to a family pension. If her parents are alive.

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A new decision of the Central Administrative Tribunal Bench of India (CAT) 2022

But now the CAT i.e. Central Administrative Tribunal Bench of India, taking this decision a little further, has issued a new decision in favor of daughters.

Under which now in the state of Uttar Pradesh, if a daughter is divorced after the death of her parents, in such a situation she will be entitled to a family pension. The condition for this is that her parents should be retired from any government job or pensioner or etc.

Central Administrative Tribunal Bench of India (CAT) made it clear while presenting its side and refused to accept all the arguments filed in the court by the Central Government and Northern Railway, in which it was said that after the death of the parents, the divorced daughter can not eligible for a family pension.

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What after this decision?

After this decision, the financial condition of all the divorced daughters will improve, or say that due to a little money in life, the problems in a living will be reduced.

This system was started by the Central Government in the month of July 2017, under which a divorced daughter of a retired employee or pensioner is also entitled to a family pension. If the girl’s parents are alive or the petition has been filed for divorce in a competent jurisdiction and the divorce has taken place after death.

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How to Withdraw Money without using ATM Cards | RBI New Monetary Policy 2022?

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How to Withdraw Money without using ATM Cards | RBI New Monetary Policy 2022?

Now you too will be able to withdraw money from an ATM machine without using any ATM card. RBI Governor Shaktikanta Das has said that now there will be no need to use a debit card to withdraw money from the ATM machine.

How to withdraw money without using ATM Cards

You can withdraw money from your account through an ATM machine even without using a debit card. To withdraw money from an ATM card without using a debit card, you have to use UPI.

You can easily withdraw money from an ATM machine through UPI without using a debit card.

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RBI New Monetary Policy 2022?

This was announced by Reserve Bank of India’s (RBI) Governor Shaktikanta Das on Friday. He also announced a monetary policy for this, under which you will now be able to withdraw money from your account with the help of UPI without using a card.

Along with this, the Monetary Policy Committee of India has not made any change in the repo rates.

That is, the Central Bank has not made any change in interest rates, and along with this, the Monetary Policy Committee has reduced the economic growth rate (GDP) estimate for the current financial year i.e. 2022-23 to 7.2%.

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Why did this happen?

RBI has to say on this that fraudsters withdraw money from ATM machines by changing the card or if we say that by cloning the card.

Nowadays many people are falling prey to such fraud. To stop all this, RBI has taken this step. Let us tell you that till now this facility was being given in select banks.

But after some time from now, this facility will be available in almost all the banks and you will be able to easily withdraw money from your bank account through UPI without using a debit card.

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Important points that we must be remembered using any ATM Cards

Whenever you go to withdraw money from an ATM machine, you should keep some things in mind. So that you and the deposit kept in your bank account do not go into the wrong hands.

  1. Whenever you withdraw money from ATM, you always have to keep an eye on the environment around you at that time. You should keep an eye to ensure that no one is monitoring you while you withdraw money. That is, no one is too close to you. By doing this, the chances of him getting to know your ATM PIN and other information increases.
  2. After withdrawing money from the ATM machine, always check your card properly, many times we forget to take the ATM card in a hurry. In such a situation, your ATM card can be lost.
  3. With an ATM card, if money is not coming out of the ATM machine, you want to change your ATM card’s PIN, you want to use internet banking, or you do not have much information about it, then do not give your ATM card and your ATM PIN to any unknown person at all to withdraw money. Many times ATM cards are changed in your hurry. In such a situation, you can contact the bank immediately, the bank will help you fully in withdrawing your money and explain the whole process to you.
  4. If the money is not dispensed through the ATM machine or the card is blocked by the bank then also you should get in touch with the bank immediately so that the bank can provide you with proper guidance.
  5. Do not share your ATM PIN and OTP etc. with anyone.
  6. Do not give your ATM card to anyone to withdraw money at all. If you give your ATM card to anyone to withdraw money, whether it is a member of your family or any other person, then it is considered a violation of the rules of the Reserve Bank of India (RBI), and in such a situation, in the event of any fraud, etc. before the bank can help you, you will be charged for these things, Responsible that you did not follow the guidelines given by him.

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Top 15 Features of the SBI Annuity Scheme 2022

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Top 15 Features of the SBI Annuity Scheme 2022

If you do not know about the Annuity scheme of the State Bank of India (SBI), then know today, here we have mentioned the top 15 features related to the Annuity scheme of State Bank of India (SBI).ย 

After reading these, you may find it helpful to understand SBI’s Annuity scheme, SBI Fixed Deposit plan, and Recurring Deposit plan all three plans in a better way.

Annuity Schemesย 

Under the annuity scheme, you can get a good return every month on a certain investment. Under this, the more amount you invest, the better the money is paid by the bank every month.

Annuity schemes may vary according to the banks. By investing in annuity schemes, people try to secure their future.

Below we have only listed the 15 annuity scheme features of the State Bank of India (SBI).

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Top 15 Features of the SBI Annuity Scheme 2022

These 15 features can help you a lot to understand more about the SBI annuity scheme. Let us discuss,

  1. At least Rs 25,000 has to be deposited in the State Bank of India Annuity Scheme.
  2. Under this scheme, you will also have to deposit at least Rs 1000 every month.
  3. If you want to deposit the maximum amount, then you can do that too. There is no limit on maximum investment in the SBI annuity scheme.
  4. If you are an employee of the State bank Of India (SBI) or have been an employee in the past, then you will be given 1% more interest on the SBI annuity scheme.
  5. If you are a senior citizen, then you will be given 0.5% more interest than ordinary in the SBI annuity scheme.
  6. Your income starts after a certain time by charging interest on the amount you invest in the SBI scheme.
  7. You can open an SBI annuity scheme by visiting any nearest branch of SBI.
  8. If you have a term deposit account or plan, then the interest rates of that term deposit plan will be applicable to the SBI annuity scheme as well.
  9. SBI annuity scheme can be a better option to get good returns on lump-sum amounts.
  10. SBI scheme gives better returns as compared to a savings account.
  11. Along with this, if you want to take an overdraft or loan, you can do so in special circumstances up to an amount up to 75% of the balance amount of your SBI annuity.
  12. Under the annuity scheme, the payment is made in the savings account or current account after deducting TDS.
  13. You will be paid under the annuity scheme on a certain date from the next month of your deposit under the SBI annuity scheme.
  14. Under this scheme, you can invest in the SBI annuity scheme from 7 days to 120 months.
  15. As per the scheme, any citizen of India can invest in the SBI annuity scheme.

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FAQ – SBI Annuity scheme

Is the annuity scheme, fixed deposit, recurring deposit plans have the same features and eligibilities?

No, all three plans have their own features and eligibilities. A few of the features may be the same but not all.ย 

What are the current SBI Annuity interest rates for 2022?

For a normal citizen of India, the SBI annuity scheme’s interest rates start from 2.90% to 5.40%ย and for a senior citizen, the SBI annuity scheme’s interest rates start from 3.40% to 6.20%.ย 

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What are the benefits of becoming an IRCTC Ticket Agent?

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What are the benefits of becoming an IRCTC Ticket Agent?

If you also want to do business with Indian Railways, then you can become an IRCTC ticket agent. After becoming a ticket agent, you are given a commission by IRCTC on every ticket booking.

Along with this, how many tickets can you book in 1 day or in 1 month you will also be given a commission for that ticket by IRCTC for each booking.

In this post, we tell you how you can apply to become an IRCTC ticket booking agent, what are its benefits, and how much annual fee or monthly fee you have to pay for this.

How can I become an IRCTC-authorized ticket booking agent?

To become an IRCTC ticket agent, you have to apply for it by visiting the official website of IRCTC. Shortly after applying, you will be made an authorized ticket booking agent by IRCTC.

The process is very simple. The necessary steps during this process are, e-KYC, verification of uploaded documents, that’s it.

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What are the documents required to become an Irctc agent?

The list of documents that are required to fulfill the eligibility criteria for the document verification process to become an Irctc agent is listed below.

  1. Aadhar Card.
  2. Mobile Number.
  3. Pan card.
  4. Email account.
  5. One Passport size photo.
  6. Driving Licence or Voter Id card.

After how much time we can start our IRCTC ticket agent work?

After fulfilling the necessary steps of e-KYC, and document verification, a USB and training kit is sent to you by courier. After receiving this training and USB kit you can start your ticket booking work by sitting at home or outside the office etc.

What are the benefits of becoming an IRCTC Ticket Agent?

By becoming an IRCTC Authorized Ticket Agent, you can book not only railway tickets but also plane tickets. In such a situation, if you book a ticket on behalf of IRCTC, then on each ticket you are given a commission according to 1%.

On the other hand, for every ticket, if you book an AC coach’s ticket, then you are given a commission of 40% of the total value of that ticket.

If you book a ticket without AC, then 20% of the total value of that ticket is given to you as a commission. In this way, you can earn as much as you want if your IRCTC ticket booking work is done properly.

Login benefits for IRCTC-authorized ticket agentย 

After becoming an Irctc agent you can do many things on your fingers, such as

  1. Railways ticket booking.
  2. Airplane ticket booking.
  3. Bus ticket booking.
  4. Mobile recharge.
  5. DTH service recharge.
  6. Cab or Taxi booking.
  7. Hotel booking.
  8. Holiday package booking – Railway Tours.
  9. You can also transfer money by login in as an Irctc ticket agent.

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How much Fee do you have to pay to become an IRCTC-authorized agent?

If you want to become an agent of IRCTC, then for this you have to pay around Rs 3999 for 1 year, and if you want to become an authorized agent of IRCTC for 2 years, then you will have to pay Rs 6999 for this.

Along with this, if you book up to 100 tickets in 1 month, then you will also have to pay a fee of Rs 10 per ticket. The same if you book more than a hundred i.e. from 101 to 300 tickets, then for that you will pay a fee of Rs 8 per ticket, and if you book more than 300 tickets in 1 month, you will pay Rs 5 per ticket to IRCTC.

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FAQ – IRCTC Ticket Agent

Is there any limit for ticket booking in a month after becoming an IRCTC ticket agent?

No, if you become an IRCTC-authorized ticket agent, then after that you can book as many tickets as you want in 1 month.

Do we get an opportunity to book Tatkal tickets once we become an IRCTC agent?
Yes, if you become an authorized agent, then you can also book Tatkal tickets in 15 minutes, this option is given.

After becoming an IRCTC agent, can we book tickets for journeys other than the railway?

Yes, after becoming IRCTC authorized agent, you can book tickets for airlines apart from trains in IRCTC.

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How to get Rs 2 lakh SBI PMJDY Accidental Insurance Cover?

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How to get Rs 2 lakh SBI PMJDY Accidental Insurance Cover?

If you have opened your account in the State Bank of India (SBI) under Pradhan Mantri Jan Dhan Yojana (PMJDY), and you have SBI RuPay Debit Card.

So for all such people, the State Bank of India (SBI) provides a complimentary accidental insurance cover up to Rs 2,00,000 to all those account holders. In the event of death due to an accident, all such account holders will be benefitted under this scheme.ย 

Who are eligible for the SBI PMJDY accidental insurance cover?

There is a provision of different State Bank of India PMJDY insurance covers under this scheme.

First insurance cover in which if you have a Rupay debit card of SBI under Pradhan Mantri Jan Dhan Yojana, and your account was opened on or before August 28, 2018, then you will get PMJDY SBI accidental insurance cover up to Rs 1,00,000 in such a situation.

The same If you have opened your account in SBI after August 28, 2018, under Pradhan Mantri Jan Dhan Yojana and got SBI RuPay Debit Card, then you can take advantage of PMJDY SBI’s accidental insurance cover up to Rs 2,00,000.

That is, not every SBI PMJDY account holder can get the insurance cover of Rs 2 lakh. If someone will get Rs 1 lakh SBI accidental insurance cover, then someone will get Rs 2 lakh.

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How the SBI will pay PMJDY accidental insurance cover?ย 

Under this plan, if any of the SBI PMJDY insurance account-holder died.

But 90 days before his death, he has done any kind of successful financial or non-financial transaction at any platform, from SBI to SBI or from SBI to any other bank.ย Only then, the State Bank of India gives the total sanctioned amount as SBI PMJDY death insurance cover.

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What documents are required for the SBI PMJDY accidental insurance cover?

There is a long list of documents that are required to claim the insurance cover after the death of the SBI PMJDY account holder.ย 

  1. The first document is to claim this PMJDY SBI’s death insurance cover is an insurance claim form.
  2. Copy of death certificate of the insured person (SBI PMJDY account holder).ย 
  3. Original copy or certified copy of police report (First Information report i.e. FIR) which provides the necessary information about the accident.ย 
  4. If the death of the insured person is due to any other reason, then a copy of post mortem report, forensic science laboratory report, and chemical analysis report must be attached, providing additional information about the reason for death.ย 
  5. Copy of Aadhar Card (insured person). The bank could also ask to show the original Aadhar Card of the insured person.ย 
  6. The RuPay Debit Card issuing bank’s stamp, signature by the bank officials along with a proper declaration form. In this declaration form, the name and email id of the bank’s official with addresses must be mentioned.ย 
  7. Name of the nominee with bank’s details and passbook copy.ย 

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How to apply for SBI PMJDY accidental insurance cover?

Step1. First, you need to fill out the insurance claim form completely.ย 

Step2. Attach all the required documents (mentioned above) along with the insurance claim form.

Step3. Submit all documents to the bank’s official (Associated department) within 90 days of the insured person’s death.

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FAQ – SBI PMJDY accidental insurance cover Scheme

1. Is this plan by the State bank of India (SBI) free or not?

Yes, it is free.ย 

2. After how many days we can apply for SBI PMJDY accidental insurance cover plan?

You can apply for this plan within 90 days of the death of the SBI PMJDY account-holder along with all documents.ย 

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How to link Aadhar Card with IRCTC?

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How to link Aadhar Card with IRCTC?

If you want to link your Aadhar card with your IRCTC account, then for this you have to follow some steps, after which you can get your Aadhar card verified on your IRCTC account.ย 

What are the requirements to link Aadhar card with IRCTC account?

  1. Basic knowledge of the internet.
  2. An internet connection.
  3. Aadhar Card.
  4. A mobile number that is registered with your Aadhar card for OTP verification.
  5. IRCTC account Username and password.
  6. Incoming SMS service must be active on your registered mobile number.ย 

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How to link Aadhar Card with IRCTC account?

To link your IRCTC account with your Aadhar card please follow these steps, given below.

Step1. The very first step is, please go to the official website https://www.irctc.co.in/of IRCTC.

Step2. Click on the login page. Now you have to enter your IRCTC username and password.

Step3. Now in your, My Account Section, click on Aadhar KYC.

Step4. Here please enter your Aadhar card number and click on send OTP button.

Step5. To complete the verification process OTP (One Time Password) will be sent to your registered mobile number with your Adhar card.ย 

Step6. Enter the received OTP, and verify it.

Step7. Now after OTP verification takes a look at the details related to your Aadhar card and then click on the verify button.ย 

Step8. A confirmation message that is your Aadhar KYC details are updated successfully from IRCTC will be sent to you.

That’s it you successfully linked your Aadhar card with your IRCTC account.ย 

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What are the benefits of linking Aadhar Card with IRCTC account?

As per the latest announcement by the IRCTC, one of the recent benefits of linking your Aadhar Card with your IRCTC account is, you can now book 12 tickets in place of 6 tickets in one month.ย 

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FAQ – link Aadhar Card to IRCTC

What is the full form of IRCTC?

The full form of IRCTC is Indian Railway Catering and Tourism Corporation.ย 

How do we get the IRCTC username and password to log in?

You must have registered on the IRCTC website.

What will happen if we do not register our mobile number with our Aadhar card, and what we can do about this?

In this case, you can not link your IRCTC account with your Aadhar card (Aadhar KYC is not possible). To solve this, you have to register your mobile number with your Aadhar card.

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What are the Disadvantages of having Multiple Bank Accounts?

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What are the Disadvantages of having Multiple Bank Accounts?

Many people think that if they have more than one bank account, then they can keep their money in banks in a more secure way. But along with the advantages of anything, there are also disadvantages.

Having multiple bank accounts has some advantages but along with it, there are many disadvantages as well. Today we will talk about the disadvantages of having more than one bank account.

If you keep more than one bank account, then the biggest loss is financial loss. That is, the money you keep in banks for savings at a fixed interest. The same bank accounts can cause you financial loss too. Let’s see how?

What are the disadvantages of having multiple bank accounts?

Opening more than one bank account can lead to all these disadvantages. If there are multiple bank accounts, then you have to pay different charges or a certain amount according to the banks for each thing.

In which different types of charges are included,

  1. Minimum balance charges
  2. SMS charges
  3. Service charges
  4. Maintenance charges
  5. Debit, credit card charges, etc.ย 

Because each bank has its own different charges, whether it is a government bank or a private bank. If we talk about private banks as compared to public sector banks, then the penalty charges for not maintaining a minimum balance in them are quite high.

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Let us understand with an example, to maintain a minimum quarterly average balance (Min. QAB) if you have an account in Punjab National Bank (PNB), then you have to keep a minimum balance of Rs. 10,000 if you live in a Metro area.

On the other hand, if you live in a rural/semi-urban, or in an urban area, then you have to keep a minimum balance of Rs. 1000, Rs. 2000, Rs.5000.

If you do not keep this minimum balance, then you have to pay a minimum balance penalty of one quarter around Rs. 400 for Rural and semi-urban areas, and Rs. 600 for urban and metro areas.

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Loss of Interest with Multiple bank accounts

The same we were talking about financial loss, so the biggest economic loss is to maintain a minimum balance in any bank.

Suppose you have an account in 5 banks and you have to maintain a minimum balance there. In such a situation, the minimum balance that you maintain in those 5 bank accounts, if it is calculated and kept in any one bank, then you can get a lot of interest on that entire amount per month or annually.

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Loss of time with multiple bank account

Along with this financial loss in form of interest, you may also have to face many problems while filing an income tax return.

If you keep separate bank accounts, you also have to keep the documents of all those bank accounts separately. Imagine any bank calls you to come in the bank for any kind of update related to your bank account along with the associated documents, then maintaining all required documents separately for multiple bank accounts is also a problem.

Because suppose you have accounts in different banks and you have to go every month for some update in all of them, then you have to bustle, and more and more important than that it will waste your valuable time. Wasting time itself is a big waste.

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How to Restart or Reopen your Closed/Frozen NPS Account?

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How to Restart or Reopen your Closed/Frozen NPS Account?

NPS account i.e. National Pension System can prove to be a very good option after retirement, from the government to keep your situation running properly in financial matters.

Along with this, if you invest in NPS, you also get tax exemption, and returns are also good in it. According to a report, NPS accounts have given returns of more than 12% in the last 10 years.

Income tax benefits in NPS Account

Along with this, if you invest in NPS, then you get an income tax exemption of up to 1.5 lakh rupees under section 80CCD (1).

Along with this, you also get an additional Rs 50,000 exemption under section 80CCD (1B). Therefore, a total of 2 lakh rupees income tax exemption are there in National Pension System (NPS).ย 

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Many people also believe that having an account in NPS after retirement is one of the very best options. But let’s talk here that if your NPS account gets closed or Frozen then, in such a situation what will you have to do to get it started again?

How to Restart or Reopen your Closed/Frozen NPS Account?

To solve this problem you need to fill out a form to get your NPS account activated again and submit it to the post office or bank. Along with this, you can also apply online to get your account activated again. The government provides these three options for you.

Name of NPS account Unfreezing Form

Annexure UOS-S10-A

Otherwise, you can also ask for the “Request for unfreezing of PRAN under National Pension System (NPS)” form. Here PRAN stands for Permanent Retirement Account Number (PRAN).ย 

In this form, you should fill some information, such as

  1. NPS account Type (Tier-I), (Tier-II), Or Both (Tier-I & Tier-II).
  2. Name of Subscriber (Mentioned on PRAN Card).
  3. Thumbprint/Signature.
  4. Total Unfreeze Amount to invest (For Tier-I, Tier-II), and some other details too.ย 

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Facilities in the National Pension System (NPS)

Let us tell you that in the National Pension System, you have to invest at least Rs 1000 within 1 year. The National Pension System, which is associated with the Pension Fund Regulatory and Development Authority of India (PFRDA), has started offering many facilities to attract its investors.

In these facilities, if you want to deposit a minimum amount in your NPS account at any time of the year, then you can do it, and there is no minimum period or age limit for this amount.

Along with this, by investing in the National Pension System, you can know some of your expenses in the future, and prepare accordingly from now on. The Rs 2 lakh income tax reduction in NPS is also a good facility.ย 

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FAQ – NPS account Unfreezing Process

1. What options are available to open again the NPS closed/Freeze account?

To unfreeze your NPS account, submit your application form in the post office, bank or simply you can apply through online mode.ย 

2. Where the NPS account unfreezing form is to be submitted after completing it?

After completing the Unfreezing NPS account form, the form is submitted to the associated POP-SP. The incompleted form may be rejected hence, first carefully complete your form.

If you have any doubt regarding completing your form, contact the associated department of the bank/post office otherwise, you can visit at eNPS Official website.ย 

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What is the NFT Full Form?

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What is the NFT Full Form?

Before starting with the NFT full form, let us introduce some common points about it. The term NFT is being widely searched for the last few months of the year 2021, and in the year 2022, this trend is still rising. People want to know what is NFT, and how it works in the digital world of our financial system.ย 

As the term NFT is very new for everyone in the market hence, not everyone knows about it. Therefore, with the mindset of getting profit in business people wants to know NFT’s full form, meaning, its future scope, advantages or disadvantages, etc. But, here we are going to discuss only the full form of NFT and answer a few frequently asked questions. Okay, let us start with the full form of it.

What is the NFT Full Form?

The full of NFT is a Non-fungible token.ย Here, the non-fungible and token are two different words, having different meanings. Let us explain to you in detail.

What do you mean by the term non-fungible in NFT?

Non-fungible means non-replaceable or non-interchangeable. Let us explain through an example.

  1. For example, if you are an artist and you draw a beautiful artwork of a running cat. Therefore, the artwork of a running cat drawn by you is a non-fungible item. we cannot replace that artwork of a running cat with any other similar artwork in the world, because the artwork is created by you.
  2. Another example of non-fungible replaceable items is, let you have a book and there are thousands of other copies of this book in the market. But in the book, you have highlighted some words, lines, and paragraphs to make some kind of notes or something else. Therefore, this is a non-fungible or non-replaceable item amongst thousands of copies of the same book in the world. Because in that copy the highlighted words, lines, etc by you make it non-fungible with other copies.

What do you mean by Token in NFT?

In NFT full form what about Token? Here, the token is a kind of certificate that authenticates the uniqueness of that non-fungible items. This token is a unique identity.

On the basis of this token, you can sell or buy your artwork on cryptocurrency platforms. This token is secured on cryptography blockchain technology, and once a token is assigned to any individual that individual be the original owner of the assigned NFT forever.ย 

SBI Pre Approved Personal Loan Documents, Eligibility, Interest Rate, EMI, Apply Online

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SBI Pre Approved Personal Loan Documents, Eligibility, Interest Rate, EMI, Apply Online

As the name implies SBI pre-approved personal loan this loan is available within 4 clicks and the sanctioned loan is directly created in your SBI account. This loan scheme is also famous for some other names like SBI pre-approved loan, SBI Yono loan, PAPL loan by SBI, Yono pre-approved loan,ย SBI Yono PAPL loan, etc.ย 

This loan is very easy and convenient in terms of any pre/post programs or some urgent needs of our life.

Main Highlights of SBI Pre Approved Personal Loan

  1. After verifying your application through the Yono app this loan is approved and credited instantly to your bank account.
  2. The interest rate in this loan starts from 9.60% per annum to 12.60 % per annum.
  3. Loan tenure to this loan scheme is up to 60 months (5 Years).
  4. Max loan amount can be up to 15 Lakhs Rs.
  5. The applicant should have a minimum income of 5,000 Rs.
  6. This loan is available 24ร—7
  7. Applicants do not need to visit the branch.
  8. Applicants do not need to submit any physical documents (Hard Copy).
  9. In this loan scheme, no guarantor or security is required.
  10. Low processing fees (1% of the loan amount).
  11. Applicants can also apply for a second loan (Maybe after 1 year of this loan or vice versa).
  12. If the loan amount is more than 10 Lakhs Rs. then a 0.50% concession in interest rate is given by the SBI (If the applicant fulfills some certain conditions).

Read Alsoย SBI Kavach Personal Loan Documents, Eligibility, Interest Rate, EMI, Apply Online

What is SBI Pre Approved Personal Loan?

It is a personal loan by the State bank of India which is only given to eligible customers of SBI through a pre-approved loan Process on the SBI Yono app. In this loan, any eligible customer can take up to 15 lakhs Rs. loan instantly through SBI’s Yono App in just 4 clicks.

This loan is for those who maintain a good repayment history, and have a good profile, such as a good credit score, and balance history.ย 

How much Amount of Loan is Provided in SBI Pre Approved Personal Loan Scheme?

Maximum – 15 lakhs Rs.

A Customer can take a loan amount of up to 15 lakhs Rs. Which is directly credited (Disburse) to the customer’s bank account, if the customer is found to be eligible for the loan.

Who is eligible for the SBI Pre Approved Personal Loan?

  1. The applicant must have an account with the State Bank Of India (SBI), whether it is a saving account or a current account.
  2. Who fulfills the necessary steps for the bank’s KYC process.
  3. According to the type of accounts with SBI (Savings/Current), the customer needs to maintain the required balance in the bank account.
  4. The required minimum monthly income should not be less than 5,000 Rs.
  5. When the customer login to the SBI Yono app availability of a pre-approved SBI personal loan offer is a must.
  6. By Sending an SMS to the bank an applicant can check the availability of a pre-approved personal loan offer by the SBI. For sending an SMS you have to type – “PAPL<space><Last 4 digits of SBI Savings Bank Account No.>” and send it to 567676.
  7. If the applicant is working in these types of services, and having a minimum of 1 year of permanent service time. The services are,
  • State/Central or Quasi-government employees
  • The employees of Central PSUs
  • Employees of profit-making state PSUs
  • Teachers/Staff in nationally recognize Educational institutesย 
  • Selected Corporates (having in relation with the bank or do not have Earning Credit Rate (ECR), and fulfill required aspects of the bank.

Note: The PAPL is for offer checks, and only for eligible or selected customers. The loan amount is only sanctioned through the SBI Yono app.

SBI Pre Approved Personal Loan Document Requirements?

You do not need to submit any physical documents (Any hard Copy) or visit the branch. The applicant only needs to be pre-approved for the SBI personal loan offer on the Yono app.

Note: If you are a new customer then, you need to submit some documents for the purpose of verification of your account KYC, income proof, etc.

The required documents are,

  1. Identity proof – You have to provide these Id proofs to the bank (Adhar Card, PAN card, Passport, Driving Licence, etc.
  2. Address Verification – Adhar card, Voter identity Card, electricity bills, etc.
  3. Income Proof – Bank account statements, Salary slips (At least last 3 months), ITR form, etc.

Interest Rate for SBI Pre Approved Personal Loan?

Min Interest Rate – 9.60% Per Annum

Max Interest Rate – 12.60% Per Annum (May vary from customer to customer, totally depends on the bank). The interest rates depend on multiple factors.

A concession of 0.50% in the interest rate will be also given to the applicant if the loan amount is more than 10 Lakhs Rs. But, if and only if the applicant fulfills the required terms & conditions.ย 

Note: The interest rates can change with the passage of time.

Read Alsoย SBI Pension Loan Documents, Eligibility, Interest Rate, EMI, Apply Online

Loan Tenure/Time for SBI Pre Approved Personal Loan?

Min Loan Tenure of SBI pre-approved personal loan – 6 Months (half Year)

Max Loan Tenure of SBI pre-approved personal loan – 60 Months (5 Years)

Examples of EMI Calculations for SBI Pre Approved Personal Loan

With An Interest rate of = 10% Per Annum.

SBI Pre Approved Personal Loan’s EMI = Per Month Amount to be paid by the customer to the bank.

Loan Amount EMI for 1 Year EMI for 2 Years EMI for 3 Years EMI for 4 Years
25,000 Rs. 2,198 Rs. 1,154Rs. 807 Rs. ย 634 Rs.
1 Lakh Rs. 8,792 Rs. 4,614 Rs. 3,227 Rs. 2,536 Rs.
15 lakhs Rs. 1,31,874 Rs. 69,217 Rs. 48,401 Rs. 38,044 Rs.

With An Interest rate of = 11% Per Annum.

SBI Pre Approved Personal Loan’s EMI = Per Month Amount to be paid by the customer to the bank.

Loan Amount EMI for 1 Year EMI for 2 Years EMI for 3 Years EMI for 4 Years
25,000 Rs. 2,210 Rs. 1,165Rs. 818 Rs. ย 646 Rs.
1 Lakh Rs. 8,838 Rs. 4,661 Rs. 3,274 Rs. 2,585 Rs.
15 lakhs Rs. 1,32,572 Rs. 69,912 Rs. 49,108 Rs. 38,768 Rs.

Charges & Fees in SBI Pre Approved Personal Loan Scheme?

  1. Processing Fees – 1% of the loan amount OR it depends on the bank.
  2. Pre-Payment Penalty – 3% on prepaid amount. But, if the account is closed from the Proceeds of a new Loan obtained under the same scheme then, Nil Pre-Payment penalty and Foreclosure Charges.ย 
  3. Penal Interest – @2% p.m would be charged over and above (the applicable interest rate,) on any overdue amount for the default period time. OR, it depends on the bank.ย 

How Can you Apply For SBI Pre Approved Personal Loan?

To get an SBI pre-approved personal loan follow these simple steps.

  1. The applicant needs to log in to SBI Yono App.
  2. Check whether a pre-approved personal loan offer is available for you or not.
  3. If the loan offer is available for you then, Select loan amount and loan tenure.
  4. After this wait for an OTP (The OTP will come on your registered mobile number with the bank).
  5. Please, enter the OTP and submit the application.
  6. That’s it, within a few minutes the loan amount will be credited directly to your bank account.

FAQ – SBI Pre Approved Personal Loan

1. Can other bank account holders apply for SBI pre-approved personal loan?

No, you can not. This loan is only available through the SBI Yono app, and if you have not account in SBI then, how can you log in to the SBIYono app.ย 

2. Is there is 100% chance of getting an SBI pre-approved loan if a pre-approved personal loan offer is available on my SBI Yono app?

No, this offer does not give you a 100% guarantee of a loan. Because after submitting the application if your documents/information are found to be wrong or unverified your loan will be rejected by the bank.ย This offer only ensures you that you have successfully cleared the initial steps of qualification.

3. SBI Pre Approved Personal Loan Customer Care/Contact information?

  1. Visit the nearest SBI Branch to solve your all doubts.
  2. Toll-free Numbers – 1800112211, 18004253800, 08026599990
  3. Email – customercare@sbi.co.in, contactcentre@sbi.co.in

Read Alsoย SBI Xpress Credit Loan Documents, Eligibility, Interest Rate, EMI, Apply Online

If You have any Doubts Please comment, we are happy to help YOU.ย 

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