SBI Launches Kavach Personal Loans for Covid-stressed Customers
The State Bank of India (SBI) has started off a new loan scheme named ‘Kavach Personal Loan’. the ‘Kavach Personal Loan’ will help in offering financial relief to its customers who are facing economic crises due to covid related treatment costs.
What is ‘Kavach Personal Loan’:
- It is a collateral-free offering Loan.
- Customers will be able to get a maximum of Rs 5 lakh loan at an interest rate of 8.5 percent per annum for a period of 5 years.
- The loan will help in offering reimbursement of Covid related medical expenses.
- This loan scheme has been launched under the Covid loan book
SBI (State Bank of India) –
- Chairperson: Dinesh Kumar Khara
- Headquarters: Mumbai
- Founded: 1 July 1955
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