SBI Online: Did you know? You can get personal loan against your credit card from State Bank of India in 3 steps

Personal loan against credit card from SBI: This is rather a lesser known fact that State Bank of India (SBI) also offers personal loan on its credit card. This facility is extended by the largest state-owned lender to facilitate its customer fulfil their extra cash requirements with encash within 48 hours. A customer can avail this facility in just 3 simple steps. According to details available on sbicard.com, you need to share details of your SBI Card and Date of Birth. You can also give a call on 39 02 02 02/ 1860 180 1290, and also avail this facility through SMS, just send message SMS Encash to 56767. 

If you go for this urgent facility, you have to repay the amount in 12, 24, or 36 months. You also need to pay according to the rate of interest as per the existing offer is applicable. The one-time processing fee of 2%, up to a minimum of Rs 499 and a maximum of Rs 3,000 will be charged. In case of foreclosure of your Encash booking, a 3% foreclosure fee on the outstanding principal amount will be levied.

Known as Encash, this a pre-approved, money- on- demand facility, which is offered to a select set of SBI credit cardholders. The amount that a cardholder would be eligible for can be over and above the existing credit limit or within the existing credit limit on the card. The funds will be transferred to your account instantly within 48 hours or via payable-at-par cheque. Notably, all cardholders are not eligible for this facility.

If you want to go for Encash, log in to sbicard.com using your SBI Card Online user ID and password. If you are eligible for this facility, you will see an "Encash" link under the benefits section on the left-hand navigation. Now click on the link and enter the amount you wish to book Encash, and select the tenure and rate of interest and confirm the booking.

You can avail this facility by means of mobile app as well.

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Notably, this Encash offer is extended by SBI Cards & Payment Services Pvt Ltd ("SBICPSL") to certain SBI Credit card holders. By availing this offer and benefits accruing thereto, the cardholder explicitly agrees to be bound by all the terms and conditions.