SBI Real-Time Xpress Credit [RTXC]
RTXC (Real Time Xpress Credit) is a variant of Xpress credit loan specially designed for meeting your urgent financial requirements. It is a hassle-free loan made available instantly through Digital Document Execution (DDE) Process & Non- DDE process flow. It is a general-purpose loan/ personal loan for meeting any legitimate personal needs other than speculative activities.
Features of SBI Real-Time Xpress Credit [RTXC]
• Aadhaar OTP based e-sign of customer.
• Step-by-Step Guided e-mail and SMS Communication System.
• Digitization of entire loan documentation processes viz. loan application, loan agreement, stamping and signature at 21 DDE enabled States & 5 DDE enabled Union Territories at present.
• Instant loan disbursement.
• Digital Document Execution (DDE) facility is presently live at 21 States viz. i. Andhra Pradesh, ii. Assam, iii. Chhattisgarh, iv. Goa, v. Gujarat, vi. Himachal Pradesh, vii. Jharkhand, viii. Karnataka, ix. Kerala, x. Maharashtra, xi. Manipur, xii. Meghalaya, xiii. Odisha, xiv. Punjab, xv. Rajasthan, xvi. Tamil Nadu, xvii. Telangana, xviii. Tripura, xix. Uttarakhand, xx. Uttar Pradesh, xxi. West Bengal and 5 Union Territories viz. i. Andaman & Nicobar, ii. Delhi, iii. Jammu & Kashmir, iv. Ladakh, v. Puducherry.
Eligibility of SBI Real-Time Xpress Credit [RTXC]
• Salaried customers maintaining Salary Package account with the Bank
• Minimum Net Monthly Income of ₹20,000/- for Government/ Defence employees and ₹25,000/- for Corporate employees
Loan Amount:
• Minimum Loan amount: Rs. 1 lakh
• Maximum Loan Amount: ₹ 50 lakh, subject to EMI/NMI Ratio up to 65% & 30-times NMI, whichever is lower.
Terms of SBI Real-Time Xpress Credit [RTXC]
• Loan Tenure: 6 months – 84 months
• Processing fee: Up to 1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-), plus GST
• Penal Charges: In the event of default in payment of any instalment or any irregularity in the loan account, penal charges at following rate will be applicable:
• Irregularity upto 60 Days: 2.40% per annum on the irregular portion for the period of irregularity.
• Continuous irregular for a period beyond 60 days: 5% per annum on the irregular portion for the period of irregularity
• The Loan will be repayable by way of EMIs. Standing Instruction (SI) for EMI payment will be automatically set up on Salary Package Account of the customer.
• Loan Account will be closed/ pre-closed at the Home Branch/through app/portal by customer, after recovering residual dues from the Customer.
How To Apply For SBI Real-Time Xpress Credit (RTXC) Loan Via YONO?
Applying for the SBI Real-Time Xpress Credit (RTXC) loan through the YONO SBI app is a straightforward 8-step digital journey designed for quick disbursal.
Steps To Apply Via YONO
Login:
Open the YONO app and log in using your credentials (MPIN or User ID/Password).
Navigate to Loans:
On the home screen, go to the ‘Loans’ section and select ‘Personal Loan’.
Check Offer:
Look for the RTXC or Pre-Approved Personal Loan banner to see your eligible offer.
Validate Profile:
Enter your PAN and Date of Birth to verify your identity.
Customize Loan:
Select your desired loan amount (up to ₹35-50 lakhs), choose the tenure (up to 72-84 months), and set your preferred EMI payment date.
Review Terms:
Carefully review the interest rate, processing fees, and EMI plan, then accept the Terms & Conditions.
OTP Verification:
Enter the One-Time Password (OTP) sent to your registered mobile number to confirm the application.
Disbursal:
DDE-enabled states: Documentation is completed digitally via Aadhaar e-sign, and funds are credited instantly.
Non-DDE areas: You may need to visit your branch once to execute physical documents after online sanction.
SBI Real-Time Xpress Credit [RTXC] FAQs
How do I know that I am eligible for RTXC?
RTXC is real time loan sanctioned digitally by the system. You will have to apply for Xpress credit loan through YONO App. Login-Loans-Personal Loan
What is the repayment period?
The repayment period ranging from 6 months to 84 Months is available/ displayed based on the other eligibility parameters like EMI/NMI ratio etc.
Is there any Processing fee?
Yes, depending upon the customer eligibility processing fee may range from Nil to 1.50% of the loan amount plus GST (maximum Rs 15,000 + GST). Further, these charges are reviewed and subjected to change by the Bank in future
When will I get the loan amount deposited in my account?
The loan amount will be deposited in your Savings Account within a few seconds of your DDE Process completion. In case of RTXC Non-DDE, the loan amount will be credited after completion of documentation at the Branch.
Is there any pre-payment penalty?
During Cooling off/ look-up period: No prepayment charges to be applied for closure of loan during Cooling off/ look-up period i.e. within 3 days from the date of sanction. After cooling period, depending upon product feature. The product feature can be seen in Key Fact Statement.
