The State Bank of India (SBI) has introduced a new digital loan service called Real Time Express Credit (RTXC) to help customers meet urgent financial needs.
Whether it’s medical emergencies, children’s education, or weddings, arranging funds can be stressful.
This new scheme allows you to get loans of up to ₹35 lakh from the comfort of your home—no branch visits required.
The main benefit is speed and convenience.
The entire loan process is digital, quick, and hassle-free.
How the RTXC Loan Works
With this facility, customers can avail a one-time personal loan ranging from ₹1 lakh to ₹35 lakh.
The process is completely paperless and can be completed through the YONO app in just a few minutes.
Here’s how it works:
Loan proposals are automatically generated for eligible individuals in their YONO app.
Customers complete OTP verification using their Aadhaar card.
The bank’s system checks eligibility based on your CIBIL score.
Once approved, the loan amount is deposited directly into your account after e-sign verification.
This digital system eliminates the need for filling out forms or standing in long queues.
Who Is Eligible for This Loan?
The RTXC scheme is available only for SBI salary account holders.
Eligible applicants include:
Employees in central or state government
Defense personnel
Corporate employees whose salaries are credited to SBI
Loan eligibility depends on income, credit history, and a CIBIL score of 650–700 or above. High-income customers with good credit records can get the maximum loan of ₹35 lakh.
Low Interest Rates and Transparent Terms
SBI is offering these loans at low interest rates based on the two-year maximum leverage rate (MCLR).
The interest rate remains fixed for the entire loan term, and the bank assures there are no hidden charges.
This makes it a much safer and cheaper option than borrowing from chit funds or moneylenders.
Why This Loan Is Beneficial
The RTXC digital loan is perfect for urgent financial needs.
Customers don’t need to visit a branch, worry about paperwork, or risk high-interest loans elsewhere.
The process is fast, secure, and confidential.
With SBI’s guarantee and a simple mobile-based application, salary account holders can now access funds anytime, anywhere, making financial emergencies easier to handle.
