As we all know that the country and the whole world is battling with the corona epidemic, due to which lakhs of people have either become unemployed or their income has decreased, in such a situation, if someone’s family member has become a victim of this disease. If so, their life has become more difficult, in view of all these problems, the country’s largest bank SBI has launched a new personal loan, they have named it Kavach Personal Loan.
sbi kavach personal loan apply online
State Bank of India (SBI) has started the scheme of giving loans to those account holders who need money for the treatment of Kovid-19. Under the SBI Kavach Personal Loan Scheme, loans are being given to the account holders or their family members for the treatment of corona. If the account holder or any member of his family is found to be corono positive on or after April 1, 2021, then he can take a loan under this scheme for treatment.The earlier expenses for treatment are also covered under the loan. This loan can be available to all account holders including salaried, non-salaried or non-pensioner.
Importanr Point For SBI Kavach Personal Loan
- How much can you get from – 25 thousand to 5 lakh
- Who can get – the member suffering from Corona
- Interest rate – 8.5% p.a.
- Where to get – SBI Branch or YONO App
- time period – 5 years
How much loan can be availed from Kavach Personal Loan
Giving a big relief, SBI has launched Kavach Personal Loan for the countrymen, under this scheme, any person can get a loan of 25000 to 5 lakh whose family has a member suffering from corona. They will get this loan without any mortgage.
Who can get Kavach Personal Loan
Kavach Personal Loan can be availed by a citizen of any country, only one condition is that any member of the household of the borrower of this loan is suffering from corona on or after April 1, 2021, this loan is collateral free. That is, to take this loan, you will not have to do any kind of mortgage, it can be found in the bank along with the salaried people who are not salaried, you do not need any kind of documentation for this loan.
How to Apply for Kavach Personal Loan
To take this loan, you do not have to face much trouble, you just have to go to the bank and there you have to apply for it and also you will have to give information about which family member is suffering from corona, you are suffering from this loan. You can also apply for this loan from SBI’s YONO mobile app. The special thing about this loan is that you will not have to pay any processing charge.
What will be the tenure of Kavach Personal Loan
SBI A Kavach Personal Loan will have a tenure of up to 5 years and the annual interest rate on it is only 8.5%, if you can never repay its installment due to any reason, then you will get the facility of moratorium 3 times in it. That is, if you have not paid the installment 3 times, then the bank will not take any action against you.
How to Apply for Kavach Personal Loan
If a member of your household is suffering from corona, the cost of his treatment is coming more, then there is no need to panic now the country’s largest bank SBI has come with good news for you, now SBI will give you the cost of corona treatment. Loan for expenses, its name is Kavach Personal Loan, to apply for it, you can directly go to your bank and give an application or you can also apply for it from SBI’s YONO mobile app.
What are the documents required for Kavach Loan
Which documents do you need from SBI to take Kavach loan?
- You must have an account with SBI.
- Name and ID proof of the member who got corona.
- Any proof showing your relation to that member.
- Corona positive report of that member.
Apply Online :- Click Here
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