SBI KAVACH Personal Loan Scheme
Purpose :
➡️ For Covid treatment of self or family member who are found Covid Positive on or after 01/04/2021
Features :
Channel:
➡️Branch channel
➡️ 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
➡️ Pre-payment Penalty : NIL
➡️ Foreclosure Charges : NIL
Loan Amount :
➡️ 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
Loan Tenure :
➡️ 60 months (including 3 months moratorium)
➡️ Loan to be repaid in 57 EMIs, including interest charged during Moratorium
Rate of interest (Fixed) :
➡️ 8.50% at present (minimum 100 bps lower than similar unsecured product of the Bank)
Repayment Mode
➡️ Standing Instruction (SI) on the Salary/ Pension/ SB/CA account
