SBI offers Kavach Personal Loan Scheme for meeting Covid expenses

Loans range from Rs 25,000 to Rs 5 lakh at 8.5 per cent. No collateral is required, loan term is 60 months.

Hyderabad: SBI is offering SBI Kavach Personal Loan Scheme for meeting the treatment expenses of Covid-19. It is a collateral-free loan Covid-19 patients. Reimbursement of expenses already incurred for Covid-19 related medical expenses will 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.

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Documents required

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

It is a term loan.

Loan amount

Customers can avail this loan of Rs 25000 to Rs 5 lacs as per eligibility. The loan will be over and above the existing loans, if any. SBI is offering this loan to the customers at 8.5 per cent.

Loan tenure

The tenure will be 60 months (including moratorium of 3 months)

Where to apply

SBI Branch
Pre-approved through YONO

Processing fee

There is no processing fee. The bank has also waived-off the foreclosure charges and pre-payment penalty for customers

More details at https://bank.sbi/web/personal-banking/sbi-kavach-personal-loan-scheme

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