SBI offering pre-approved two-wheeler loan via YONO app. Check details

New Delhi: State Bank of India (SBI) has launched an ‘easy ride’ pre-approved two-wheeler loan scheme for customers to further push its digital platform SBI YONO. The lender is offering easy pre-approved two-wheeler loans up to Rs 3 lakh, provided they are applied online through the SBI Yono app.

Note that the public sector lender already gives a discount of 5 basis points on home loans if it is applied via online or via the YONO app. As per SBI, the digital, pre-approved two-wheeler loans will be available for all eligible SBI customers through the YONO app without visiting a branch, the bank said in a statement.

Customers can apply for the two-wheeler loan for up to Rs 3 lakh and a minimum loan of Rs 20,000, at 10.5 per cent per annum onwards for a maximum tenure of four years. A pre-approved customer can also seek up to 85 per cent of the on-road price provided the tenor is only 48 months and the average EMI will be Rs 2,560 per lakh, SBI added. The loan will be disbursed directly into the dealer's account.

"It's our consistent effort to offer customised products and services and a hassle-free banking experience to our customers", SBI chairman Dinesh Khara said. Through YONO, SBI offers a gamut of banking and lifestyle services at the customer's doorsteps. Since its launch in November 2017, the app has seen 89 million downloads and over 42 million registered users. SBI has partnered with over 110 ecommerce players in over 20 plus categories on the platform.

Meanwhile, during this festive season, SBI is offering a slew of special offers for its retail customers. The interested customers can log in to the official website of SBI at



sbi.co.in for further details on the process and schemes. In a tweet in September, the lender shared offers related to car, gold, and personal loans. The tweet said, "Start the festive celebrations with special offers on Car Loan, Gold Loan, and Personal Loan from SBI. Get started today! Apply Now: sbiyono.sbi."

SBI is offering a car loan at Rs 1,539 per lakh, a gold loan at 7.5 per cent interest p.a., and a personal loan at Rs 1,832 per lakh. Customers must note that they can apply for the loans via SBI YONO app. They can also log in to sbiyono.sbi.

The lender had earlier also mentioned about the home loan benefits that it will be offering this festive season. It is offering credit score-linked home loans at 6.7% irrespective of the loan amount. Earlier, interest on home loans above Rs 75 lakh was 7.15%. The bank in a statement said the offer will shave off 45 basis points (1%=100 bps) off eligible customers’ loans.   

"The offer results in a saving of 45 bps which translates to a huge interest saving of more than Rs 8 lac, for a Rs 75 lac loan with a 30 year tenure," it said. The public lender said the rate of interest applicable to the non-salaried borrower was 15 bps higher than interest rate charged to salaried borrowers. However, under the offer, this distinction has been removed, it added.

SBI is not only the largest lender in terms of customers, deposits and advances and branches but also the largest mortgage lender with over 35 lakh home loan customers and the loan book of over Rs 5 lakh crore, which is 34.77 per cent of the home loan market. Its auto loan market share is 31.11 per cent as of June 2021.