Pre Approved Personal Loan (PAPL) - Customer Care

PAPL is a Pre-Approved Personal Loan specially designed for meeting your urgent financial requirements. It is a hassle-free loan made available instantly.

Salary Account holders with a certain minimum stipulated salary and Non-Salary Account holders with a certain stipulated minimum balance, Pensioners with a certain minimum stipulated Pension, Existing Xpress Credit Borrowers having satisfactory run account for last one year with minimum required outstanding are eligible for PAPL. The eligible customers are pre-selected on the basis of an analytic engine.

It is a general-purpose loan for meeting any legitimate personal needs other than speculative activities

The minimum & maximum amount offered under PAPL comprising below mentioned products will be Rs. 1,00,000/- & Rs. 15,00,000/- respectively. For Pre-approved pension loan minimum loan amount is Rs.25,000/- & maximum loan amount is Rs. 5,00,000/-

The eligible customers are informed of their loan eligibility through SMS/email/in-App notifications & in the offer section of Internet Banking. The customers can check his/her eligibility by sending SMS PAPL XXXX on 567676 ( XXXX is last 4 digit of SB Account number)

You may approach your branch for assistance in such cases for availing other variant of loan

In case, you are eligible for two products, you will be shown the offer with only one product with the higher of the two-eligibility amount under PAPL

The maximum repayment period ranging from 6 months to 84 months depending on the product variant which is displayed during the journey

Depending upon the product feature, processing fee may range from Nil to maximum Rs 10000/- (plus GST), subject to revision

No documents are required to be provided

No. For your convenience, this loan is made available to you through App/Portal

An automatic standing Instruction will be set up on a day selected by you, for transfer of EMI from your Savings Account to Loan Account

Yes

Yes. The loan account can be pre-closed through App/RINB or by visiting the Home Branch for the purpose

Yes, depending upon product feature. The product feature can be seen in Key Fact Statement

YONO/Service Desk request should be raised by the branch containing the relevant information

No. The leads are selected monthly based on eligibility criteria set by business (PBBU). If the customer fulfils all the eligibility criteria, he/she will be included in the dashboard in the coming month

No. A real time NPA validation is done at YONO end while PAPL loan journey on YONO. Such customers will not be able to avail PAPL on YONO

The PAPL leads are refreshed on monthly basis. The customers will be available on dashboards till the next leads refresh. The same customers may repeat as eligible lead in consecutive months if they fulfil all the business criteria

No. IT YONO does a cross product validation for customers, if she/he already have a live PAPL, the customer is removed from the eligible list before publishing the leads on YONO. However,the customer may be eligible again once the loan is fully repaid and closed subject to business criteria