One Lakh Instant Credit Scheme: From October 1, 2025, a major financial relief scheme is being rolled out for customers of State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BOB).
Under this initiative, eligible account holders will be able to access an instant credit facility of up to ₹1 lakh.
This move aims to support individuals in need of quick funds for emergencies, business requirements, or personal expenses without the lengthy process of loan approvals.
What is the ₹1 Lakh Instant Credit Scheme?
The new scheme allows eligible customers to receive an instant credit line directly into their savings or current account.
Unlike traditional personal loans, this facility will not require extensive documentation, lengthy approval processes, or high interest rates.
Customers will be able to use this credit for multiple purposes, including medical emergencies, travel, shopping, or even urgent bill payments.
Eligibility for SBI, PNB & BOB Customers
To avail of this instant credit facility, customers must meet certain criteria set by their respective banks. While detailed guidelines may vary, here are the common requirements expected:
Must have an active savings or current account with SBI, PNB, or BOB.
Account should be operational for at least 6–12 months.
A good transaction history and credit score may be required.
PAN and Aadhaar should be linked to the account.
Customers with no major loan defaults are more likely to qualify.
How to Avail This Credit?
Starting October 1, customers will be able to check their eligibility through their bank’s official mobile app or net banking portal.
Once approved, the ₹1 lakh credit line will be instantly available in the account. Some banks may also provide this option at ATMs and branches for customer convenience.
Benefits of the Scheme
Instant access to funds without waiting for loan approval.
No heavy paperwork involved.
Flexible repayment options expected.
Helps in emergency situations where quick money is needed.
Boosts financial inclusion for middle-class and salaried individuals.
Final Words: ₹1 Lakh Instant Credit Scheme
The launch of the ₹1 lakh instant credit scheme by SBI, PNB, and BOB is a big step towards empowering customers with easy access to short-term finance.
With simplified eligibility and faster processing, this scheme is set to benefit millions of account holders across India.
From October 1, 2025, customers can check their eligibility and apply through their bank’s official channels.