- Under the scheme, SBI will offer collateral-free personal loans up to Rs 5 lakh at an annual interest rate of 8.5% for 60 months which is inclusive of three months moratorium.
- The loan support will help COVID-19 patients to meet their medical expenses either for themselves or family members.
- The loan under the scheme will be offered under the collateral-free personal loan category.
- The ‘Kavach Personal Loan’ scheme is a part of the COVID loan book created by banks as per RBI's COVID relief measures.
- Static Part:
- HQ of SBI: Mumbai
- Chairman of SBI: Dinesh Kumar Khara
Question:
Q.1 Which bank launched the ‘Kavach Personal Loan’ scheme for COVID-19 patients?
a. State Bank of India
b. Union Bank of India
c. Axis Bank
d. Bandhan Bank
a. State Bank of India
b. Union Bank of India
c. Axis Bank
d. Bandhan Bank
