In a major buzz for bank customers across India, news is spreading fast that Punjab National Bank (PNB), Bank of Baroda (BOB), and State Bank of India (SBI) might soon offer instant credit up to ₹1 lakh directly to their customers’ accounts.
While this update has created huge excitement, it’s important to note that the scheme has not been officially confirmed yet.
But if it becomes a reality, it could bring a big financial relief to crores of account holders. Let’s understand what this new move could mean and how it might work once implemented.
A New Credit Boost for Common People
From what reports are hinting, the instant credit facility may be introduced as a short-term loan or overdraft scheme where customers can get up to ₹1 lakh credited immediately in their bank accounts.
The amount could be used for emergencies, small business needs, home repairs, or even education-related expenses.
Banks like SBI, PNB, and BOB have already been working on digital credit products, and this new proposal seems like the next big step in that direction.
It would allow customers to apply through mobile banking apps, and within minutes, the approved amount could be reflected in their account no long paperwork, no waiting for loan approvals.
When Could It Start?
According to early talks circulating in banking circles, November 1, 2025, is being discussed as the potential launch date. However, officials from these banks have not yet given an official confirmation. This means the scheme is still in the planning or proposal stage.
If everything goes well and approvals are received from the Reserve Bank of India (RBI) and the Finance Ministry, the facility might roll out before the festive season a time when people generally need extra funds for shopping, weddings, or travel.
Why This Scheme Could Be a Game-Changer
If implemented, this move could change how ordinary Indians manage sudden money needs. Right now, many people depend on personal loans or credit cards, which often come with higher interest rates. But under this proposed instant ₹1 lakh credit scheme, interest rates could be lower and the repayment process simpler.
It’s also likely that only existing account holders with good transaction records or a decent credit score will qualify initially. This will help banks minimize risk while still supporting genuine customers who need short-term help.
For instance, someone facing an emergency hospital expense or a farmer needing quick funds for crop investment could easily access this money without running around for loans.
Digital India and Fast Banking
Over the last few years, banks have been upgrading their systems for faster and easier digital services. With UPI, e-KYC, and AI-based loan assessments, instant credit approval has become technically possible.
This new proposal fits perfectly with Digital India’s vision quick service, paperless process, and financial inclusion. Customers could simply log in to their app, check eligibility, and receive money instantly, just like a prepaid mobile recharge.
What Should Customers Do Right Now?
While the news sounds exciting, customers should wait for official confirmation from their respective banks PNB, BOB, or SBI. There’s a chance that some banks might test the system first with limited users before making it public.
So, if you’re a customer of any of these banks, keep checking official announcements on their websites or verified social media handles. Avoid trusting random messages or links claiming early registration those could be fake or part of scams.
Final Words
As of now, this ₹1 lakh instant credit scheme remains unconfirmed, but the buzz is strong. If the plan gets approved, it could provide a much-needed cushion for the middle class, small traders, and salaried individuals during emergencies.
India’s banking system is evolving fast, and digital credit could become as common as UPI transfers in the coming years. But till the final green light is given, customers are advised to stay alert and not share any personal banking details with unverified sources.
So yes, the idea of getting ₹1 lakh in minutes sounds amazing but let’s wait and watch if this exciting plan actually kicks off on November 1, 2025.