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

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

Listing of Banks Providing COVID-19 Loans in Asia

  • Bank of Maharashtra
  • Punjab Nationwide Bank (PNB)
  • Indian Overseas Bank (IOB)
  • Bank www.spot-loan.net/payday-loans-ma of Baroda (BoB)
  • Indian Bank
  • Union Bank of Asia
  • UCO Bank
  • State Bank of Asia (SBI)
  • Bank of Asia

Key information on some of those recently introduced COVID-19 loans that are personal loans are the following:

Dining dining dining Table of articles

  • 1. Bank of Maharashtra Emergency 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 people
  • 5. Indian Overseas Bank Insta Pension-COVID-19 Relief Loan for people
  • 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 Companies
  • 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 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 customers to enable them to meet with the instant liquidity demands through the COVID crisis that is current. The scheme can be acquired just till.

Qualified Applicants:

  1. Current housing loan customers that have finished the protection cost of the 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 personal bank loan are additionally qualified to receive the brand new 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 kind
  2. Evidence of earnings: Salary slide of final a few months showing all deductions or latest type 16) duly attested by the boss
  3. Evidence of work: Copy of photo ID card issued by the boss, work purchase, worker quantity, etc.
  4. PAN (permanent number that is account 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: Concessional interest price of RLLR (7.45%) + 1.00% = 8.45percent onwards

Repayment Period: as much as three years including Moratorium / vacation amount of a few months

Loan Quantum:

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

To learn more about the mortgage scheme, you contact the financial institution regarding the cost number that is free. Or deliver a message together with your enquiry

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

PNB SAHYOG COVID 19 unsecured loan scheme is agreed to current clients associated with the bank to deliver monetary help to enable them to satisfy medical or any other individual economic requirements as a consequence 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 who’re drawing their income 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 people that have current mortgage loans from erstwhile OBC and UBI) with as much as date 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 can get details by giving a message.

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