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SBI ‘Kavach Personal Loan’ will get a loan of five lakhs for Kovid treatment, know how to apply

SBI Kavach Personal Loan: One of the best schemes of India’s largest public sector bank State Bank of India is Kavach Personal Loan. This collateral free loan is called Kavach Personal Loan. In this loan, the bank covers the expenses of the customer and the family members of the customer due to corona.

While launching this scheme, State Bank of India had said that the purpose of Kavach Personal Loan is to provide relief to the customers from the expenses due to Corona. Under this loan, the bank will bear the full cost of the treatment of the customer and his family members.

In this way customers will be able to take advantage
While starting this scheme, State Bank of India had ensured that there is no need for the customer to deposit any kind of asset while taking this loan. Under this scheme, customers will be given a loan of five lakhs for a period of five years. Through this, a loan of at least 25 thousand can be taken. The interest rate of this loan will be 8.5%.

The bank says that this loan is very convenient because even after the tenure of three months of this loan, a provision of loan moratorium time has been kept for three months. The bank says that this loan is very good and the interest rate is also very low.

Let us tell you that the facility of this loan has been started from 1st April 2021. Through this loan scheme, customers and their family members will get its benefit. Those people will also get the benefit of this scheme, they do not get any kind of salary.

Also, pensioners can also take advantage of this scheme. The bank has also decided to include the medical expenses already done in Kovid-19 through the scheme. The bank will also give reimbursement of those expenses. An application can be made on SBI’s online portal to take Kavach Personal Loan.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.

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