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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
