Question: Which bank has launched Kavach Personal Loan Scheme?
(a)PNB bank
(b)SBI bank
(c)HDFC bank
(d)ICICI bank
Answer : ( b )
Related facts :
- The country’s largest lender, State Bank of India (SBI), offered ‘Kavach Personal Loan’ to provide relief to its customers who are facing financial challenges due to covid related treatment costs.
- Kavach Personal loanis a collateral-free offering by SBI, under which a maximum of Rs 5 lakh loancan be availed at 8.5 per cent per annum for 5 years.
- This loan covers the expenses of COVID treatment of self and family members of the customer.
- The maximum tenure of a kavach personal loan is 60 months (including a moratorium of 3 months).
- This loan can be availed with zero processing fee.
Where to Apply for the loan?
- SBI Branch; Pre-approved through YONO.
By – Amit Gupta