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

Listing 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 many of these recently introduced COVID-19 unsecured loans and loans are the following:

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 Unsecured 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 people
  • 5. Indian Overseas Bank Insta Pension-COVID-19 Relief Loan for folks
  • 6. Baroda Personal Loan COVID 19 by Bank of Baroda (BoB) for people
  • 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 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 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 loan customers in order to meet with the instant liquidity demands throughout the current COVID crisis. The scheme can be acquired just till.

Qualified Applicants:

  1. Current housing loan clients who possess finished the protection cost of the home in preference of bank and now have started the payment of an home loan that is existing
  2. Existing housing loan clients who possess currently availed a personal bank loan are 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 type
  2. Evidence of earnings: Salary slide of final three months showing all deductions or form that is latest 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 (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: as much as 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 financial institution on the cost free quantity. Or deliver a contact along with your enquiry

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

PNB SAHYOG COVID 19 unsecured loan scheme is agreed to current clients of this bank to give monetary support in order payday loans New Hampshire to fulfill medical or any other individual monetary requirements due to the outbreak that is COVID-19. The scheme happens to be 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 income through records in PNB (account holders with erstwhile OBC and UBI may also be qualified)
  2. Existing housing loan debtor of PNB (along with people that have current mortgage loans from erstwhile OBC and UBI) with as much as date re re re payments.

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

Repayment Period: Up to 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 can even get details by delivering a message.