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

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

Set of Banks Supplying COVID-19 Loans in 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 unsecured loans and loans are the following:

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 people
  • 3. Punjab Nationwide Bank Aabhar Rin COVID 19 Unsecured 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 – Emergency Pension Loan by Indian Bank for Pensioners
  • 9. State Bank of Asia COVID-19 Crisis 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 Crisis Personal Line Of Credit for Companies
  • 14. Indian Overseas Bank COVID Type Of Help Scheme for MSME Companies

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

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

Qualified Applicants:

  1. Current housing loan clients who possess finished the safety cost of the home in preference of bank and also have started the payment of a home loan that is existing
  2. Current housing loan clients that have currently availed a loan that is personal additionally entitled to 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 type
  2. Evidence of earnings: Salary slide of final a couple of months showing all deductions or latest type 16) duly attested by the manager
  3. Evidence of work: Copy of picture ID card issued by the boss, work purchase, worker quantity, etc.
  4. PAN (Everlasting Account Number) Card
  5. Form 16/ certified ITR
  6. KYC Papers: 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% = 8.45per cent onwards

Repayment Period: Up to three years Moratorium that is including amount of half a year

Loan Quantum:

Deductions Norms: Not surpass 70% of this gross yearly earnings including proposed EMI

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

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

PNB SAHYOG COVID 19 personal bank loan scheme is wanted to current clients associated with the bank to deliver monetary help to enable them to fulfill medical or any other individual economic requirements because of the outbreak that is COVID-19. 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 qualified)
  2. Current housing loan debtor of PNB (in addition to individuals with current mortgage loans from erstwhile OBC and UBI) with as much as date re payments.

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

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 get details by giving a contact.