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

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

A number of Banks providing loans that are COVID-19 India

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

Key information on some of those recently introduced COVID-19 signature loans and loans are as follows:

dining dining Table of articles

  • 1. Bank of Maharashtra crisis Credit Line – Personal Loan Scheme COVID-19 for folks
  • 2. Punjab Nationwide Bank SAHYOG COVID 19 Personal Bank Loan Scheme for people
  • 3. Punjab Nationwide Bank Aabhar Rin COVID 19 Personal Bank Loan Scheme for folks
  • 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 Organizations
  • 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 personal credit line for organizations
  • 13. UCO Bank COVID 19 Emergency Line Of Credit for Organizations
  • 14. Indian Overseas Bank COVID Type Of Help Scheme for MSME Organizations

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

Bank of Maharashtra is providing the lender of Maharashtra crisis Credit Line – Personal Loan Scheme COVID-19 to all or any its current mortgage loan customers to enable them to meet up with the instant liquidity needs through the current COVID crisis. The scheme can be acquired just till.

Qualified Applicants:

  1. Existing housing loan clients who possess finished the safety fee of these home in preference of bank and also have started the payment of an home loan that is existing
  2. Current housing loan clients that have currently availed a loan that is personal additionally qualified to receive the latest scheme susceptible to deduction norms as specified by Bank of Maharashtra

Documents Needed:

  1. Application duly finalized along side guarantor’s kind and assets and liabilities type
  2. Evidence of earnings: Salary slide of final a few months showing all deductions or form that is latest 16) duly attested by the manager
  3. Evidence of work: Copy of picture ID card issued by the manager, employment purchase, worker quantity, etc.
  4. PAN (Everlasting Account Number) 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: as much as three years Moratorium that is including amount of half a year

Loan Quantum:

Deductions Norms: Not surpass 70% for the gross yearly income including proposed EMI

To learn more about the mortgage scheme, you contact the financial institution from the toll number that is free. Or deliver a contact along with your enquiry

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

PNB SAHYOG COVID 19 personal bank loan scheme is provided to current clients of this bank to deliver monetary support to enable them to fulfill medical or other individual economic requirements because of the outbreak that is COVID-19. The scheme happens to be available.

Qualified Applicants:

  1. All permanent/ that is salaried 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 payday loans Michigan PNB (account holders with erstwhile OBC and UBI will also be qualified)
  2. Current housing loan debtor of PNB (in addition to people that have existing mortgage loans from erstwhile OBC and UBI) with as much as date re re re re payments.

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 giving a contact.

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