COVID-19 Personal Bank Loan Schemes: Eligibility, Rate Of Interest & Just How To Apply

COVID-19 Personal Bank Loan Schemes: Eligibility, Rate Of Interest & Just How To Apply

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Because the nationwide lockdown continues, some leading banks in Asia have actually introduced unique schemes for organizations and folks to assist them to handle crisis costs caused by the ongoing crisis that is COVID-19.

Set of Banks providing loans that are COVID-19 Asia

  • Bank of Maharashtra
  • Punjab Nationwide Bank (PNB)
  • Indian Overseas Bank (IOB)
  • Bank of Baroda (BoB)
  • Indian Bank
  • Union Bank of Asia
  • UCO Bank
  • State Bank of Asia (SBI)
  • Bank of Asia

Key information on several of those recently introduced COVID-19 signature loans and loans are the following:

dining dining Table of articles

  • 1. Bank of Maharashtra crisis Credit Line – Personal Loan Scheme COVID-19 for people
  • 2. Punjab Nationwide Bank SAHYOG COVID 19 Personal Bank Loan Scheme for folks
  • 3. Punjab Nationwide Bank Aabhar Rin COVID 19 Unsecured Loan Scheme for people
  • 4.Bank of Asia COVID-19 unsecured loan for folks
  • 5. Indian Overseas Bank Insta Pension-COVID-19 Relief Loan for folks
  • 6. Baroda Personal Loan COVID 19 by Bank of Baroda (BoB) for folks
  • 7. IND-COVID – crisis Salary Loan by Indian Bank for Salaried people
  • 8. IND-COVID – crisis Pension Loan by Indian Bank for Pensioners
  • 9. State Bank of Asia COVID-19 Crisis Personal Line Of Credit for Companies
  • 10. IND-MSE COVID Crisis Loan by Indian Bank for Organizations
  • 11. SHG-COVID – Sahaya Loan by Indian Bank for Self Help Groups
  • 12. Union Bank of Asia COVID crisis credit line for companies
  • 13. UCO Bank COVID 19 Crisis Personal Line Of Credit for Organizations
  • 14. Indian Overseas Bank COVID Distinct Help Scheme for MSME Companies

1. Bank of Maharashtra crisis Credit Line – Personal Loan Scheme COVID-19 for folks

Bank of Maharashtra offers the financial institution of Maharashtra crisis Credit Line – Personal Loan Scheme COVID-19 to all or any its current mortgage customers to enable them to meet with the instant liquidity needs throughout the COVID crisis that is current. The scheme can be acquired just till.

Qualified Applicants:

  1. Current housing loan clients who possess finished the protection cost of these home in preference of bank and have now started the payment of an home loan that is existing
  2. Current housing loan customers who’ve currently availed a loan that is personal additionally qualified to receive the newest scheme at the mercy of deduction norms as specified by Bank of Maharashtra

Documents Needed:

  1. Application duly finalized along side guarantor’s kind and assets and liabilities kind
  2. Proof earnings: Salary slide of final three months showing all deductions or latest kind 16) duly attested by the company
  3. Evidence of work: Copy of picture ID card issued by the company, work purchase, worker quantity, etc.
  4. PAN (permanent number that is account Card
  5. Form 16/ certified ITR
  6. KYC Documents: Aadhar Card, Passport, Voter ID, Ration Card, Driving License, etc.
  7. Authorization to debit SB account/ ECS/ NACH mandate

Interest rate: Concessional interest price of RLLR (7.45%) + 1.00% = 8.45percent onwards

Repayment Period: Up to three years Moratorium that is including amount of six months

Loan Quantum:

Deductions Norms: Not surpass 70% for the gross income that is annual proposed EMI

To learn more about the mortgage scheme, you contact the lender from the cost free quantity. Or deliver a contact together with your enquiry

2. Punjab Nationwide Bank SAHYOG COVID 19 Personal Bank Loan Scheme for folks

PNB SAHYOG COVID 19 unsecured loan scheme is agreed to current clients regarding the bank to give you monetary support in order to fulfill medical or other personal monetary requirements due to the COVID-19 outbreak. The scheme is available.

Qualified Applicants:

  1. All salaried permanent/ confirmed workers of Central/State Govt./PSUs and all reputed organisations/ institutions including schools and universities, autonomous bodies/ nursing facilities/ hospitals that are drawing their wage through reports in PNB (account holders with erstwhile OBC and UBI may also be eligible)
  2. Current housing loan debtor of PNB (also individuals with current mortgages from erstwhile OBC and UBI) with as much as date re payments.

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Interest rate: RLLR (7.05%) + 1.00% = 8.05per cent

Repayment Period: as much as three years

Loan Quantum: Up to Rs. 3 lakh

Optimum chronilogical age of the Applicant: 60 years

You can call on toll free numbers if you want to know more about the personal loan scheme. You may also get details by delivering a contact.

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