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

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

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

A number 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 many of these recently introduced COVID-19 loans that are personal 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 Unsecured Loan Scheme for people
  • 3. Punjab Nationwide Bank Aabhar Rin COVID 19 Personal Bank Loan Scheme for people
  • 4.Bank of Asia COVID-19 Personal 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 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 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 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 all the its current mortgage loan customers to enable them to meet up with the instant liquidity needs through the COVID crisis that is current. The scheme can be acquired just till.

Qualified Applicants:

  1. Current housing loan clients that have finished the protection cost of the property 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 unsecured loan are additionally qualified to receive this new scheme at the mercy of deduction norms as specified by Bank of Maharashtra

Documents Needed:

  1. Form duly finalized along side guarantor’s kind and assets and liabilities type
  2. Proof earnings: Salary slip of final three months showing all deductions or form that is latest 16) duly attested by the boss
  3. Evidence of work: Copy of picture ID card issued by the boss, work order, 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 https://titlemax.us/payday-loans-ks/ price of RLLR (7.45%) + 1.00% = 8.45per cent onwards

Repayment Period: as much as three years Moratorium that is including amount of a few months

Loan Quantum:

Deductions Norms: Not surpass 70% associated with 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 message along with your enquiry

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

PNB SAHYOG COVID 19 unsecured loan scheme is wanted to current clients for the bank to give you monetary help in order to fulfill 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 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 (along with 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

If you’d like to learn about the private loan scheme, you’ll ask cost free figures. You may also get details by giving a message.

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