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

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

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 a few of these recently introduced COVID-19 loans that are personal loans are the following:

Dining 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 Personal Bank 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 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 Companies
  • 10. IND-MSE COVID Emergency 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 Line Of Credit for Organizations
  • 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 offers the lender 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 COVID crisis that is current. The scheme can be acquired just till.

Qualified Applicants:

  1. Current housing loan customers that have completed the protection cost of these home in preference of bank and also have started the payment of a current mortgage loan
  2. Current housing loan clients who possess 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. Proof earnings: Salary slide of final a couple of months showing all deductions or latest kind 16) duly attested by the company
  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% = 8.45percent onwards

Repayment Period: as much as three years Moratorium that is including amount of half a year

Loan Quantum:

Deductions Norms: Not exceed 70% for the gross yearly earnings including proposed EMI

To learn more about the mortgage scheme, you contact the financial institution from the cost free quantity. Or deliver a contact together with your enquiry

2. Punjab Nationwide Bank SAHYOG COVID 19 Unsecured payday loans Virginia online Loan Scheme for people

PNB SAHYOG COVID 19 unsecured loan scheme is provided to current clients of this bank to give you monetary help in order to fulfill medical or other individual monetary requirements as a consequence of the COVID-19 outbreak. 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 who’re drawing their wage through records in PNB (account holders with erstwhile OBC and UBI may also be qualified)
  2. Current housing loan debtor of PNB (also people that have current mortgages from erstwhile OBC and UBI) with as much as date re re 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

If you wish to learn more about the non-public loan scheme, you’ll ask cost free figures. You can even get details by giving a contact.

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