SBI's 'Kavach Personal Loan' Scheme Launched For Covid Patients. All You Need to Know
New Delhi: The biggest public sector bank in country, State Bank of India (SBI) has launched a unique loan offering called ‘Kavach Personal Loan’ for Covid patients. The special loan covers expenses of Covid treatment of the customer and his/her family members. Under this scheme, customers can avail loans up to Rs 5 lakh at an effective interest rate of 8.5 per cent per annum for 60 months which is inclusive of three months moratorium, said an SBI statement.
This unique product is being offered under the collateral-free personal loan category and comes at the cheapest rate of interest under this segment.