SBI KAVACH Scheme is Personal Loan for COVID Positive Patients. For Covid treatment of self or family members who are found Covid Positive on or after 01.04.2021 offered by State Bank Of India. Eligible citizens can get up to 5 lakhs as per rules.
|Scheme Name||SBI Kavach|
|Eligibility||Covid Positive Patients|
|Amount||Up to 5 Lakhs|
|Rate Of Interest||8.5%|
Table of Contents
SBI KAVACH Personal Loan procedure!
For Covid Positive patients eligible for SBI Kavach loan as per bank statements, Here is the following details of the Scheme.
- Available through Branch channel
- Also available through Digital channel (Pre-approved through YONO)
- Target Group : Customers of the Bank such as Salaried, non-Salaried as well as Pensioners
- Loan facility : Term Loan
- Disbursement : Credit to Salary/ Pension/ SB account of the customer
- CIC (CIBIL CV Score) : As per Bank’s internal policy
- Processing fee : NIL
- Security : NIL
- Prepayment Penalty : NIL
- Foreclosure Charges : NIL
Loan Amount & Tenure for SBI Kavach Scheme!
- Minimum: Rs. 25,000 & Maximum: Rs. 5 Lakhs as per eligibility
- Reimbursement facility also available through branch channel
- The loan will be over and above the existing loans, if any
- 60 months (including 3 months moratorium)
- Loan to be repaid in 57 EMIs, including interest charged during Moratorium
Rate Of Interest for SBI Kavach Loan!
For Covid treatment of self or family members who are found Covid Positive on or after 01.04.2021 are eligible for this special scheme offered by the state run bank. Rate of interest (Fixed) 8.50% at present (minimum 100 bps lower than similar unsecured product of the Bank).
About SBI Kavach Personal Loan Scheme !
For more details about the scheme you can contact the nearest branch of SBI. Also you can avail this scheme by Digital access through SBI Yono.
- Go to https://www.sbi.co.in/
- Click right top menu
- Choose personal option
- Select loan option
- Find SBI Kavach
- Click to get details about scheme