Not Offering “Emergency Loan Via YONO”, Clarifies SBI,

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SBI additionally mentioned it can quickly introduce a pre-approved private mortgage

Days after it was reported throughout sections of media that State Bank of India (SBI) is providing an ’emergency mortgage scheme’ to its clients amid the coronavirus pandemic, the lender, on Sunday, denied any such plans and termed the piece of data as a “rumour”.

In an offcial assertion, the nation’s largest lender mentioned: “This is regarding the news being widely reported about ‘SBI Emergency Loan scheme via YONO’. We would like to clarify that SBI is not offering any such loan at present. We also urge our customers not to believe on these rumours.”

The stories that had been doing rounds, prompt that SBI clients will be capable of get “up to Rs 5 lakh as loan within 45 minutes, at an interest rate of 10.5 percent”. The stories additionally said that the loans may be availed by means of the financial institution’s YONO app, which was additionally cited because the supply of the data.

The assertion launched by SBI on Sunday, moreover denying the stories about loans, additionally mentioned that the financial institution will quickly introduce a “pre-approved personal loan offering through YONO to provide relief to the salaried customers of SBI who are facing cash-flow problem due to Covid.

“The particulars of the brand new product can be communicated to media as soon as it’s launched,” the discharge said.

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