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Covid 19:SBI KAVACH Personal Loan Scheme

  • CNM Business

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  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

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