SBI Bank Loan Schemes; Coronavirus News | State Bank of India Will Give Personal Loan At 8.5% Interest To Covid-19 Patients | SBI will give personal loan at 8.5% interest, loan up to Rs 5 lakh will be available

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  • SBI Bank Loan Schemes; Coronavirus News | State Bank Of India Will Give Personal Loan At 8.5% Interest To Covid 19 Patients

MumbaiOne hour ago

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  • This loan will help those who are struggling with the crisis of Corona
  • It is named as Kavach Personal Loan. This will cover the cost of treatment of corona.

The country’s largest bank State Bank of India (SBI) has made a big announcement for Corona patients. This bank has said that it will give loans to corona patients at the rate of only 8.5% interest. Under this, a loan of up to Rs 5 lakh will be given. There will be no guarantee of any kind on this loan.

Loan will be available for up to 60 months

The bank said in a press statement that loans up to Rs 5 lakh will be available for 60 months i.e. up to five years. Interest will have to be paid on it at the rate of 8.5%. Currently, interest rates are at historically low levels. Home loan is currently available at the rate of 6.70%. In such a situation, the bank has launched such a loan for corona patients.

Personal loans are very expensive

Personal loans are usually the most expensive loans. Under this, an interest rate of 12-20% is charged annually. But SBI has launched it at the cheapest rate. The bank said that financial problems have arisen with the people due to the expenses related to the treatment of Kovid. That’s why the bank has launched the guarantee free loan. This bank has named it as Kavach Personal Loan. In this loan, the cost of treatment of corona will be covered.

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Entire family will be covered

The bank said that with the loan taken under this, his entire family will also be covered. It was launched by Chairman Dinesh Khara. It also includes a three-month moratorium. Dinesh Khara said that this loan will help those who are struggling with the crisis of Corona. We believe that this new scheme will be able to meet the needs of the people.

Corona patients have to spend more

In fact, the patients of Corona have to spend a lot. In some cases, the expenditure of 10 to 15 thousand rupees is coming daily. For complete treatment, a patient has to spend up to Rs 3-4 lakh. Also, insurance companies are also not giving full cover under health insurance. In such a situation, corona patients are facing difficulties to pay the hospital bill.

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