How to Check Pre Approved Loan in SBI?

A few months back, I needed a personal loan but I was not able to figure out which bank to choose. I asked my father for some suggestions as he used to work in a Bank. He told me that I should choose SBI as it is a government bank and their interest rates are lower as compared to other banks as well. He also suggested me to check for pre approved loans. I asked him how to check pre approved loan in SBI. 

What is the SBI Pre Approved Loan Check Process?

My father told me that the best way to check for pre-approved loan is through internet banking. After that, he told me about the steps, and here is what I did. 

• I visited the

  SBI Internet Banking Portal

  and entered my Username and Password. 

• After that, I entered the Image Cpatcha and clicked on Login. 

• Next, I located the eServices option and clicked on it. 

• After that from the options available below, I chose Loans and clicked on it. 

• Following that, I clicked on the Pre-Approved Personal Loan option. 

This is how to check PAPL in SBI. After checking I learned that, I wasn’t eligible for the pre approved loan and had to get a regular personal loan. 

A pre-approved loan is a loan that the lender offers based on your eligibility.. The pre-approved loan amount is based on a few factors including creditworthiness of the customer, financial status, spending habits, etc.. If you are planning to avail of it, you must be aware of how to check PAPL in SBI. To check your eligibility, send an SMS: “PAPL<space><last 4 digits of SBI Savings Bank Account No.>” to 567676 from your registered number. 

How To Check Pre Approved Loan In SBI Online?

I also did not know how to check pre approved loan in SBI YONO or in SBI’s official website but the bank officials were very helpful.  They explained to us how it could be checked during one of my visits there. You just need to:

• Visit SBI’s pre-approved home loan portal:

  https://homeloans.sbi/products/view/pre-approved-home-loan

• You can check the loan’s features, eligibility, interest rates and required documents

• Next, apply for it

• Enter all the details like name, account number and more

• Get the approval

• Once you get the approval, you can visit this site and check the pre-approved loan or open the YONO app and check it.

These are the online steps to check pre-approved loan. You can also visit your bank’s branch and check it as well.

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Hey,

I was so relieved when my friend told me that SBI offers pre-approved personal loans on its SBI YONO app. The facility ensures instant approval and round-the-clock service of loans. The best part about this pre-approved loan is that you don’t have to visit a bank branch or provide any physical documents. Let me tell you how to check pre approved loan in SBI.

You just have to send this SMS to 567676 to know whether you are eligible for a pre-approved loan:

“PAPL<space><last four digits of SBI Savings Bank Acc. No.>"

After this,  you will receive an SMS mentioning whether you are eligible for it or not

• Once you get the approval, log in to the SBI YONO app

• Tap on the ‘Avail Now’ button from the drop-down menu

• Choose loan amount and tenure

• You’ll receive an OTP on your contact number after that

• Enter the OTP

• The loan will be processed and the amount will be added to your bank acc.

I hope now you know how to know pre approved loan in SBI.

If you avail of the SBI Pre-approved home loan before finalization of the property, then you will be able to negotiate with the Seller/Builder confidently.

This is all on how to know pre approved loan in SBI.

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I hope you like my answer on how to check pre approved loan in SBI.