Punjab National Bank (PNB), Bank of Baroda (BOB), and State Bank of India (SBI) have announced a special instant credit facility for their account holders, effective from 1 November 2025. Under this scheme, the eligible customers could avail themselves with instant credit of up to ₹1 lakh to their accounts, offering a ready source of funds for emergency purposes, personal expenses, or investment opportunities.
Features of The ₹1 Lakh Instant Credit
A pre-approved credit limit of 1 lakh is provided without the borrower having to go through an elaborate documentation or collateral procedure. The funds can be instantaneously availed through mobile banking apps, net banking, or ATM cash withdrawal. Banks have offered comparatively reasonable interest rates starting at 13% per annum, with flexibility in the repayment option to match one’s financial capabilities. This facility of instant credit can make money available at an instance when it becomes a necessity rather than following a 3-4 day process.
Eligibility Criteria for Customers
This instant loan facility is available to savings and current account holders who have had an account for at least six months. A good transaction history and a credit score reflecting positive credibility are required. Some banks may view average balances and income patterns when deciding credit limits. Additional securities are not required, thus providing greater convenience for salaried and self-employed persons.
Benefits for Customers
Such instant loans help customers meet urgent expenses, medical emergencies, or travel expenses without the need to disrupt their savings. These loans also offer flexible repayment terms that can range from 12 to 24 months, assisting customers in remaining financially intact. Banks seek to promote maximum customer satisfaction by providing quick and uncomplicated credit solutions in the rapidly changing financial world.
Conclusion
This ₹100K scheme of instant credit launched through the three leading national banks: PNB, BOB, and SBI from 1 November 2025, will be a major milestone in adequately addressing the instant financial requirements of the millions of current accounts holders. With preapproved limits, simple access, and flexible repayment structures, this facility features time-bound aid, convenience, and security for customers.
