Looking to get loans for your family? SBI’s Corona KAVACH offers loans at THIS interest rate | Personal Finance News

Looking to get loans for your family? SBI’s Corona KAVACH offers loans at THIS interest rate | Personal Finance News

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Are you in need of money in these tough times? State Bank of India (SBI) has come to the rescue as you can get financial assistance with the help of SBI’s KAVACH personal loan.

In its tweet, SBI said, “Introducing KAVACH Personal Loan by SBI. As the nation battles this dreadful virus, we are providing financial aid to you and your family members for Covid treatment. Know more: bit.ly/3AjlbU6 .” 

Notably, KAVACH personal loan is available for SBI customers at the lowest interest rate of 8.50 percent per annum. The SBI customer needs to keep the following things in mind while availing of the loan. They are as follows: 

1) The customer can take a loan under KAVACH up to a maximum amount of Rs 5 lakh. 

2) The repayment of the loan should be done within 60 months that includes the three months of the moratorium. 

3) Also, for availing this loan, one has to present the COVID-19 positive report

According to details mentioned in the SBI website, it is important to note that the purpose of this loan is for COVID-19 treatment of self or family members who are found COVID-19 Positive on or after April 1, 2021. The target group for this loan includes the salaried, non-salaried, as well as pensioners who are customers of the bank.

Therefore, SBI customers must note that the KAVACH personal loan can be obtained via the branch channel, as well as the digital channel which is pre-approved through YONO. 

For further details related to the KAVACH personal loan, one can log in to the official website of SBI at the bank.sbi or call at 1800 11 2211.

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