SBI Financial Services can Ease your Life to a Great Extend

Posted by shruti keshre on February 22nd, 2021

Apart from online credit services, CDMs are also provided by SBI corporate banking. It is an abbreviation for ATM-like cash deposit machines. To do this, you need to have a debit card to deposit CDM cash. There are CDMs installed in the ATM outlets at different locations. the biggest difference between an ATM and CDM  is ATM is for dispensing money and CDM is for depositing the money. The CDM enables you to use an ATM or debit card to deposit cash directly into a bank account. Without visiting the bank branch, you can simply search the keywords like “Cash Deposit Machine near me” to know the location of SBI CDM near you.

The following are some of the CDM services provided to you by SBI:

• An update on your account balance is also given in the transaction receipt.

• It provides instant credit for a cash deposit into your bank account.

• CDMs are regarded as a fast and convenient way of depositing cash.

• The paperless transaction involves this.

• The per transaction restriction is Rs.49,900/- for the Cardless Deposit and Rs. 2 lakhs via Debit Cards (subject to account has PAN number).

• You can also deposit cash in your PPF, RD, and Loan accounts with the help of CDMs.

• Up to 200 currency notes may be deposited in a single transaction.

In this new lifestyle, everything is  depending on the online platform. Then how SBI can be left behind. To match the trend and provide the best to the customers SBI online services are here for you. You can find various services and a personal loan is one of them. An SBI personal loan is a multipurpose loan means that can be used for any reason, whether it is college, holiday, marriage, medical emergencies, or anything for that matter. SBI provides different personal loan programs to accommodate the customers' diverse needs. Let's have a look at them:

• Xpress Credit Personal Loan

• A gross personal loan amount of Rs. 20 lakhs and a minimum of Rs. 25, 000 can be used.

• Low fees for processing are charged.

• A borrower may also make use of this loan scheme as a second loan.

• It charges a fair interest rate.

• SBI Personal is a collateral-free loan, meaning that no protection against the sum of the loan is required.

• SBI Xpress Power

• The cumulative loan sum of Rs. 15 lakhs/ 24 times NMI (Net Monthly Income) and a minimum of Rs. 25,000 can be applied for under this loan scheme.

• Minimal documentation is involved in SBI Xpress Power.

• It is possible to repay the credit amount of this loan scheme via NACH/SI.

• There is no compulsion under this loan scheme to maintain a salary account at SBI Bank.

• SBI Xpress Power comes with zero hidden costs.

• SBI Pension Loan

• Speedy and quick handling of loans.

• A borrower can pay via SI for easy EMIs.

• In this system, no hidden costs are paid.

• Low transaction fees.

SBI Personal Eligibility for Loans

The eligibility of an SBI personal loan varies based on schemes and other factors, the common one being below:

The eligibility conditions for Xpress Credit Personal Loan are:

• An applicant who does not have a bank salary account with SBI can apply under this scheme for a personal loan.

• The total monthly income of the claimant should not be less than Rs.50,000.

The eligibility conditions for the SBI Pension Loan are:

• A borrower should be a central or state government pensioner, protection pensioner, or a family pensioner to benefit from this loan scheme provided by SBI.

• An applicant's age should be less than 76 years.

Xpress Credit Personal loan eligibility conditions are:

• The minimal monthly income of the creditor should be Rs. 15,000.

• An applicant should have kept the EMI/NMI ratio at 50 percent.

• An applicant should have a salary account with SBI to take advantage of personal loans under this scheme.

SBI Personal Loan Documents Needed

• Duly completed loan application form

• A recent passport-sized picture.

• Identity Proof (any of the following)

• PAN Card

• Passport Aadhaar

• Copy of Passport

• Driving License 

• Voter ID Card 

• Address Evidence (any of the following)

• Copy of Passport

• Agreement for Leasing

• Driving License 

• Bank Declaration or Passbook

• Bill for energy

• Ration Card

• Telephone Bill

• Age Proof (any of the following)

• Copy of Passport

• PAN Card

• New Pay Slips or Bank/Passbook Statements

• Shape 16

• The last three years of IT Returns

Conclusion:

Lastly, in this article, we have tried to give a brief about Cash Deposit Machine and SBI personal loan that you even avail online along with various services. As mentioned above an ample number of SBI CDMs can be located near you. On Google Map or via SBI CDM Locator, you can simply search for " Cash Deposit Machine near me” and you will easily find the location of the same. We hope that you get the information you were looking for.

https://www.afinoz.com/banking/cash-deposit-machine