Covid loans are becoming a better option for jobbers and businessmen in this difficult period of the Corona epidemic. Private and public sector banks have launched this Covid-19 special personal loan for their existing customers, whose interest rate is lower than a normal personal loan. Banks are providing loan of Rs 25,000 to 5 lakh at a low interest. Finance expert Nitin Rockswell said that this scheme of banks is a better option for the salaried class and says that if necessary, take a Covid-19 loan only. Where the interest rate of a personal loan usually ranges from 12 to 20%. The interest rate of Covid-19 personal loan is between 7-10%.
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A PNB official said that Covid-19 loan facility is being given to those who are already customers of the bank. This loan will be given only to those who have a good record of repaying the old loan. That is, they should have a good track record of repayment of previous loans. No processing fee is being charged in Covid-19 loan. This loan can be taken till June 30. An SBI official said that a large number of people are coming for Covid-19 loans, after verification of which loans are being issued. A loan of up to five lakh rupees is being issued by SBI within 45 minutes. For this application can be made through SBI's YONO app.
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In order to take a loan from PNB, there should be a salary of at least Rs 15,000 per month in metro cities and at least Rs 10,000 per month in semi-urban or rural areas. A top-up loan is also a good option for them. He can easily get a top-up loan by applying to the bank. Interest in this also has to be paid less and banks easily give this loan. Covid-19 loan can be taken from these banks, State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, Indian Overseas Bank, Indian Bank, Union Bank of India, UCO Bank.