SBI’s KAVACH protects against COVID-19 with a low-interest personal loan for coronavirus treatment
The SBI has established the KAVACH personal loan to help SBI customers, and their family members pay for COVID-19 therapy.
What is SBI KAVACH Personal Loan?
These last years have been disastrous for the whole world due to the outbreak of the Covid-19 pandemic, which has impacted all our lives to somewhat extent. As many people are left jobless, and some might have lost their family members, there have been hard times.
The economic problem is prevailing throughout the country. To overcome these circumstances, SBI has put forth a new scheme, namely SBI KAVACH personal loan. This scheme can be availed for the treatment of your near ones against Coronavirus, aka Covid-19. These schemes are specially designed for Covid-19 for assisting SBI Customers under challenging times.
Recently, the country’s largest public sector bank announced from its official Twitter handle, “SBI introduces the KAVACH Personal Loan. We are giving financial assistance to you and your family members for Covid therapy as the country fights this terrible disease.”
Customers of SBI should be aware that like other SBI personal loans, Kavach Personal Loan is available for COVID-19 treatment at the lowest interest rate of 8.50% per annum. An SBI customer must make specific considerations to obtain this loan. The SBI Customer can obtain a loan through KAVACH up to a limit of Rs 5 lakh. The loan should be repaid within 60 months, which includes the three months of the moratorium. The subsidiary, a Covid positive RT-PCR report, has to be submitted along with it.
According to the SBI website, this loan aims for COVID-19 treatment of self or family members who are COVID-19 Positive on or after April 1, 2021. Customers of the bank who are salaried, non-salaried, or pensioners are the target group for this loan.
If anyone is interested to know more about KAVACH personal loan, then SBI has provided assistance where one can obtain all the information from browsing SBI official website or call on 1800 11 2211.