SBI Kavach collateral-free loan- how to apply for SBI Kavach's personal collateral-free loan up to 5 lakh application for corona treatment-related expenses online in India. Get a loan without procession fees, prepayment penalty, foreclosure charges, and security. The minimum amount is set to RS 2500 and maximum up to 5 Lakh Rupees. As per the loan EMI calculator reports, this scheme has the cheapest interest rates @8.50 % p.a. It is to be noted the eligibility of the loan is applicable to a person who was infected and tested positive on or after 01-04-2021. The target of the loan is salaried or nonsalaried customers of the state bank India and the maximum duration is 5 years. SBI is taking care of customers financially while battling the coronavirus in India. Buy online sbi corona kavach insurance online.
The document required for applying for the sbi suraksha kavach personal loans is
- PAN card
- COVID19 positive certificate
- Hospital Details
- Bank account number
The policy premium chart of the SBI Kavach scheme are
- The maximum loan amount is 5 lakhs
- The repayment or tenure should be completed in 60 months (including a six-month moratorium)
- Covid19 positive report requires.
For any details please visit nearest state bank of India Branch or call 1800112211.
How to Apply steps
- To buy online sbi corona kavach insurance, you must first become a customer of the SBI and then visit the sbi life official website.
- Scroll down the page and click to buy which will redirect you to epolicy sbilife portal
- Then from the menu fill in the required personal data, for example, date of birth, name, account details and medical details
More about the SBI corona kavach health insurance schemes
The state bank of India has recently launched a new scheme called sbi corona kavach premium kavach that covers the coronavirus treatment hospital expenses for self and family members. The aim and objective of these new personal loan policies are to provide financial help from 2500 to 5 lakhs rupees to the victims of the second-wave coronavirus pandemic in India.
Sbi chairman Dinesh Khara spoke in media that they firmly believe that this new scheme will help financial assistance for the treatment of corona at the hospital.
This loan is collateral, which means borrowers need no security to provide/deposit at the time of application of the loan. Moreover, under this scheme, the sbi announced, that the reimbursement policy will also be effective.
In another news, the RBI governor shaktikanta das said the rise of covid infection could impact the economy and individual borrowers, small business and MSME units come in the most vulnerable category of borrowers.
Tenure,interest rate, and repayment mode
- 60 months including 3 months moratorium to be repaid in 57 EMIs
- the cheapest interest rate at 8.5% per annum
- The repayment mode is based on standing instruction on the salary, pension,SB/CA account.