Covid linked personal loans

14 Jun 2021

Covid linked personal loans

To address the needs of Covid patients, Banks are introducing special personal loans to help patients tide over financial hardship.

✅ SBI launched kavach collateral free personal loan
✅ The loan is up to Rs 5 lakh at 8.5% annual interest rate
✅ Loan is for 60 months including 3 months moratorium
✅ Loan may be used to pay for medical bills or to manage loss of income etc
✅ This is part of Covid-19 loan book being created by banks as per RBI's COVID relief measures

Other banks are following suit with similar personal loan products

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