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

Posted on Dec 2, 2020 | 0 comments | Connect with Nancy Smith on Google

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

6. Baroda Personal Loan COVID 19 by Bank of Baroda (BoB) for people

Bank of Baroda has introduced the Baroda Personal Loan COVID 19 to make certain that people can satisfy any individual function (except conjecture purposes) including short-term liquidity mismatch because of COVID-19.

Qualified Applicants:

  1. Clients with current mortgage loan (all variations), loan against auto or property loan with Bank of Baroda meet the criteria
  2. They need to also provide a relationship that is minimum of months because of the bank where:
  • Loan ought to be completely disbursed and moratorium period is finished
  • Minimal three instalments are compensated
  • Account hasn’t slipped in SMA1 category
  1. Minimal credit rating of applicant must be 650

Interest rate: BRLLR (Baroda Repo Linked Lending Rate) + SP+ 2.75percent per year with month-to-month remainder (ROI is aside from credit rating)

Repayment Period: just like current loan of applicant as much as a optimum of 60 months

Loan Quantum: Rs. 25,000 to Rs. 5 lakh

Processing Charges: Rs. 500 plus applicable GST

For further inquiries, it is possible to contact the consumer care of Bank of Baroda at 1800 258 44 55 and 1800 102 44 55 (toll- free figures).

7. IND-COVID – Emergency Salary Loan by Indian Bank for Salaried people

This crisis COVID personal loan has been introduced by Indian Bank aided by the function of fulfilling any unexpected costs as a result of COVID 19. Listed below are the main element top features of the IND-COVID – crisis Salary Loan:

Qualified Applicants :

1) Permanent Government/Quasi Government/MNCs/Board/Other reputed business workers with minimal two years of solution when you look at the present organization whom have actually wage account with Indian Bank.

2) current Indian Bank mortgage borrowers (irrespective of salary account maintained with Indian Bank)

3) current borrowers of Indian Bank Salary Loan

Interest rate: 9.50per cent p.a. fixed price

Payment period: as much as 3 years moratorium that is including of a few months

Loan Quantum: 20 times gross salary that is monthly to at the most Rs. 2 lakh

Processing Fess/Prepayment Charges: Nil

Minimal age of applicant: 21 years

8. IND-COVID – crisis Pension Loan by Indian Bank for Pensioners

The IND-COVID crisis Pension Loan from Indian Bank was created to offer economic help pensioners for unexpected costs pertaining to COVID -19.

Qualified Applicants:

1) Central and local government pensioners along with family members pensioners and Indian Bank retirees (both voluntary and superannuation retirees) drawing their retirement through Indian Bank.

2) current borrowers underneath the Indian Bank Pension Loan scheme

Note: CRS retirees and EPF pensioners aren’t qualified to receive IND-COVID crisis Pension Loan

Interest: 8.75% p.a. fixed price

Payment period: optimum 3 years moratorium that is including of months

Loan Quantum: 15 times web monthly retirement less TDS as much as at the most Rs. 2 lakh

Processing Fess/Prepayment Charges: Nil

Age related criteria: No age that is minimum of. For regular pensioners maximum entry age is 68 years and maximum exit age is 75 years. For family pensioner maximum entry age is 68 years and minimal exit age is 73 years.

To get more details and extra top features of these loans, clients can contact Indian Bank Toll numbers that are free. Alternatively, an email can be sent by you with information on your question into the after:

9. State Bank of India COVID-19 Crisis Personal Line Of Credit for Organizations

India’s largest general public sector loan provider, SBI has established an extra ad-hoc personal line of credit center for current company borrowers to aid them mitigate liquidity dilemmas brought on by the present Corona virus crisis. Some key information on this scheme consist of:

  • interest of 7.25per cent (fixed price)
  • Payment duration 6 EMIs after 6 moratorium period month
  • Optimum loan quantity of Rs. 200 crore (10% of existing Fund Based Working Capital)

Extra details linked to scheme might be acquired from nearby SBI branch, the SBI that is official website you are able to e-mail your questions

State Bank of Asia contact that is toll-free figures

Make use of the Loan Moratorium Calculator to learn your moratorium interest fees

10. IND-MSE COVID Crisis Loan by Indian Bank for Organizations

All current Indian Bank micro and tiny borrowers are permitted to avail this center and fulfill their temporary liquidity shortage because of COVID 19 outbreak. Offer is valid till 30 th September 2020 and also this crisis line of credit features Nil processing fees and solution fees. A few of the other key features are:

  • Interest of 8.75per cent p.a. fixed price
  • Loan number of as much as 50 lakhs maximum. (10% of performing money)
  • Payment duration max. 3 years for loans as high as Rs. 25 lakhs and maximum. 60 months for loans over 25 lakhs.
  • Optimum moratorium amount of half a year.

11. SHG-COVID – Sahaya Loan by Indian Bank for Self Help Groups

Another Indian Bank providing for crisis COVID-19 related cash crunch, this is certainly geared towards self-help teams (SHGs) in the united states. The most loan quantity is Rs. 1 lakh for every single SHG with loan tenure of three years and moratorium of a few months.

It is possible to contact Indian Bank

12. Union Bank of Asia COVID crisis credit line for organizations

Union Bank of Asia in addition has established its COVID crisis type of credit for the customers that are existing. While details are anticipated, this system can be anticipated to provide essential relief because of liquidity disruptions of companies due to the COVID-19 crisis.

Union Bank of Asia contact information.

13. UCO Bank COVID 19 Crisis Line Of Credit for Organizations

This adhoc credit center established by UCO Bank was created to help organizations meet up with the short-term cashflow crunch and liquidity due to the crisis that is COVID-19. While details are available, you will probably find details that are additional the UCO Bank official site or by calling them.

UCO Bank contact information.

14. Indian Overseas Bank COVID Type Of Help Scheme for MSME Organizations

This COVID crisis loan scheme for medium and tiny enterprises (MSME) from Indian Overseas Bank (IOB) is present to any or all current MSME borrowers associated with bank. Key features include:

  • Performing capital loan for as much as one year
  • Optimum loan quantity of Rs. 1 crore
  • Payment allowed in 6 month-to-month instalments
  • Nil prepayment fees

Depending on the notification that is current further details regarding stipulations associated with the scheme can be found at nearby IOB branches. Different ways to get hold of the lender range from the cost number that is free 1800-425-4445*. Alternatively it is possible to offer your title, e-mail and mobile phone quantity along side question details into the “Reach Us” section regarding the Indian Overseas Bank official internet site getting a call back/email reaction from a bank agent.

Just how to make an application for COVID-19 signature loans?

As of this moment you can’t make an application for a COVID-19 unsecured loan on the web. Therefore, you’ll want to speak to your bank right to understand the information on the emergency loan application process that is COVID-19. Listed below are the contact information of major loan that is COVID-19 in india”.

*Please remember that reaction from bank customer service contact numbers might be delayed since many banking institutions are running with restricted staff in view associated with crisis that is COVID-19.

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