What is SBI KAVACH Personal Loan Scheme:
- State Bank of India has launched a unique collateral-free loan scheme titled ‘KAVACH Personal Loan’ on June 11, 2021 for are Covid-19 patients
- Reimbursement of expenses already incurred for COVID-19 related medical expenses shall also be provided under the scheme
Who can avail the loan – This scheme is for salaried as well as non-salaried customers along with pensioners and their family members who have been found Covid-19 positive on or after April 1, 2021
Documents required for availing the loan:
- Covid positive report of customers who are looking to avail this personal loan
- No collateral is required to be submitted to avail the loan from the bank
Loan facility – Term loan
Loan amount:
- Customers can avail this loan of amount starting at Rs. 25000 upto Rs. 5 lacs as per eligibility
- The loan will be over and above the existing loans, if any
Interest rate – SBI is offering this loan to the customers at cheapest interest rate of 8.5%
Loan tenure – 60 months (including moratorium of 3 months)
Where to apply for this loan:
- SBI Branch
- Pre-approved through YONO
Processing fee – This loan can be availed with zero processing fee. The bank has also waived-off the foreclosure charges and pre-payment penalty for customers
Website link – https://bank.sbi/web/personal-banking/sbi-kavach-personal-loan-scheme
In this article:
Click to comment
