SBM Boost is a highly flexible and accessible personal loan which can help you finance personal projects (travel, renovation, wedding, amongst others). The loan amount can range from Rs 50,000 up to a maximum of Rs Rs 3,000,000 without the need to provide guarantee, and with a repayment period of up to 7 years. This hassle-free loan provides the flexibility to adjust the loan as per changing individual needs and lifestyle.
- Open to both SBM and NON - SBM customers
- Minimum of Rs 50,000 and Maximum of Rs 3,000,000
- Up to 7 years repayment period
- Competitive interest rates
- Flexible repayment
- Pre-approved credit card
What is SBM Boost?
SBM Boost is a personal loan up to Rs 3,000,000 without security. It is offered to finance any personal project that you wish to pursue e.g. travel, renovation and wedding among others.
Who is eligible to apply for SBM Boost?
The borrower must be a confirmed employee
Does my salary need to be credited at SBM?
Upon approval of your loan your salary should be credited to SBM prior to disbursement
How much can a customer borrow?
The minimum is Rs 50,000 and maximum is Rs 3,000,000
What is the maximum repayment period?
Up to 7 years
What condition has to be satisfied?
A salary pledge from customer’s employer
Can a non-SBM customer apply for SBM Boost?
Yes indeed. You will need to provide a confirmation of salary pledge from your employer with 1 month banking at SBM and bank statements of last 3 months from your current bank.
Can I apply for SBM Boost jointly with another person?
What is pre-approved credit card?
Following SBM Boost loan approval and subject to repayment capacity, a credit card with a limit up to Rs 10,000 will be automatically approved and given to you.
What is the disbursement period?
Disbursement of loan is within 2 working days and is subject to:
- Your loan having been approved;
- Confirmation that life insurance coverage has been accepted by your insurance company;
- You have complied with all the terms and conditions of the loan .