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SBI launches Kavach Personal Loan for Covid-19 patients

Sumit Arora Published On June 12th, 2021 Leave a comment

State Bank of India (SBI) has launched a collateral-free “Kavach Personal Loan” to enable its customers to meet medical expenses of self and family members for Covid treatment. Under this scheme, customers can avail of loans up to ₹5 lakhs at an effective interest rate of 8.5 per cent per annum for 60 months, which is inclusive of three months moratorium.

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This loan product will also be part of the Covid loan book being created by banks as per the Reserve Bank of India’s Covid relief measures. The loan will also cover reimbursement of Covid related medical expenses already incurred.

Important takeaways for all competitive exams:

SBI Chairperson: Dinesh Kumar Khara.
SBI Headquarters: Mumbai.
SBI Founded: 1 July 1955.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.