How to Pay Loan Amount in YONO SBI App

One of the biggest concerns with a loan is the repayment of it. Too many rules and regulations depend on the loan type, amount, repayment duration, etc.

The good news is, now this hectic process has become easy with netbanking. If you’re a user of the State Bank of India and hold a smartphone, you’re good to go for a hassle-free loan repayment. In this article, the whole process of loan repayment in the YONO SBI app is explained. Just follow the steps mentioned, according to the latest update of the mobile app, and it’ll not take more than 10-15 minutes to pay the loan amount.

Steps to Pay Loan Amount in YONO SBI App

Step 1. Open your YONO application and log in with your MPIN or fingerprint.

Step 2. On the home page, there’ll be an option named ‘Loans’. Click on that.

Step 3. You’ll be redirected to a new screen. Click on the “My Loans” section there.

Step 4. On the new screen, your total payable loan amount will be displayed. It will be named as “My Borrowing”. Verify your bank account number from the screen as well. Your loan is being sanctioned against this account. You’ll be able to see the last four digits of the account. Note this number for future reference.

Step 5. Now, come back to the home screen of YONO SBI. You can find a section named YONO Pay. Click on it.

Step 6. From the current screen, click on the “Bank Account” tab. Other accounts and own accounts— these two options will be available.

Step 7. For loan repayment, choose the second (Own Accounts) option. If you want to transfer money to another bank account of yours or others, select the alternate option. To select your own accounts option, just click on the section.

Step 8. From the dropdown list, you can choose a bank account. As noted from Step number 4, check the last four digits of your SBI bank account. You need to choose the same bank account to pay the loan amount. Click on the “Amount” field. Type the amount you want to pay currently. You can enter any amount here.

 

Scroll down to get the “Choose a purpose” option. Click on it and from the pop-up menu, choose the “Loan repayment” option. You’ll be allowed to choose only one option from the list.
From the bottom of the screen, click on the “Next” button.

Step 9. From the new screen, verify all the details again. Check your bank details, the amount you’re paying, and the purpose of the payment. If you want to edit anything, you may go back and do it. Otherwise, click on the “Confirm” button from the bottom of the screen.

A success message will be displayed confirming your payment. Click on the “OK” button. From the home screen, you can again go to the “Loans” section, and under the “My Borrowings” section, you can see the remaining balance to pay will be reduced.

Conclusion

This article covers all the steps regarding loan payment in the YONO SBI application. Follow them to pay your loan amount online. Following this process, you can pay the loan in different instalments, customizable according to your convenience. Make sure you’re using the updated version of the mobile application for the loan payment.