COVID-19 Personal Bank Loan Schemes: Eligibility, Interest & How Exactly To Apply

3. Punjab Nationwide Bank Aabhar Rin COVID 19 Personal Bank Loan Scheme for people

PNB Aabhar Rin COVID-19 is agreed to pensioners to satisfy crisis economic requirements amid the outbreak that is COVID-19. The mortgage quantity enables you to fulfill individual requirements, including medical expenses. Presently this scheme can be availed just till.

Qualified candidates: All pensioners whom draw their retirement through branches of PNB meet the criteria for PNB Aabhar Rin COVID-19.

Interest rate: RLLR (7.05%) + 2.00% = 9.05percent onwards

Repayment Period: as much as a optimum of 36 months (3 years), in the event that you curently have a continuing retirement loan with PNB. But, brand brand new candidates can repay the mortgage inside an optimum tenure of five years (60 months).

Loan Quantum: Up to Rs. 2 lakh or 3 x associated with the average of this final half a year pension credited for your requirements, whichever is leaner. Nevertheless, your monthly EMI for PNB Aabhar Rin COVID-19 personal loan should maybe maybe not go beyond the under limitations:

  • 50% of gross pension that is monthly in the event that you receive as much as Rs. 30,000 as month-to-month retirement;
  • 60% of gross month-to-month retirement, in the event that you get significantly more than Rs. 30,000 as month-to-month retirement.

Optimum chronilogical age of the Applicant: Borrower should be not as much as 75 yrs old during the time of application. Nevertheless, the loan that is personal be repaid by sufficient time the debtor is 75 yrs old.

Procedure to use: fill in the applying form for Pension Loan under PNB Aabhar- COVID 19 scheme and submit it towards the bank along side an image, ID proof, target evidence, date of delivery evidence, earnings proof and final 6 months’ bank declaration of one’s retirement account.

Processing and Documentation Charges: Nil

You can call on PNB customer care toll-free numbers if you want to know more about the PNB Aabhar Rin COVID 19. Instead, it is possible to deliver a contact to [email protected] to have details that are further.

4. Bank of Asia COVID-19 Unsecured Loan for folks

Bank of Asia (BoI) has introduced the COVID-19 Personal Loan (CPL) for specific borrowers to assist them to satisfy individual financial demands caused by the Corona virus crisis and lockdown that is resultant. Listed below are key top features of this COVID-19 loan that is personal


Qualified applicants when it comes to Bank of Asia COVID-19 unsecured loan are:

  • Salary customers of BoI (if income was gotten in BoI account fully for at the very least one year)
  • All current Bank of Asia unsecured loan and mortgage loan borrowers (irrespective of income account tie-up)
  • Maybe maybe maybe perhaps Not open to current/ex-staff of Bank of India

Loan Amount

Optimum loan quantity sanctioned beneath the scheme is Rs. 5 lakh susceptible to restictions that are following

  • For self-employed – three times of month-to-month earnings as per final money Tax Return
  • For salaried – three times of latest gross month-to-month wage

Interest and Processing Charges

Bank of Asia COVID-19 unsecured loan has been provided by the rate that is concessional to BoI RBLR (Repo-based financing price) of 7.25per cent p.a. Processing cost with this COVID-19 personal bank loan is NIL.

Loan Tenure

Optimum repayment tenure permitted for Bank of Asia CPL is 3 years including a moratorium of a few months.

Papers Required

  • Totally filled away BoI COVID-19 unsecured loan application
  • KYC papers
  • Salary Slip/ITR

For further details regarding this COVID-19 personal bank loan and step-by-step application procedure you’ll want to speak to your nearest branch. Alternate contact information of Bank of Asia are:

Toll-free cell phone numbers.

Chargeable contact number.

5. Indian Overseas Bank Insta Pension-COVID-19 Relief Loan for people

Indian Overseas Bank Insta Pension-COVID-19 Relief Loan is provided to pensioners to fulfill unforeseen costs due to Covid-19. This loan offer happens to be legitimate as much as 30/06/2020.

Qualified Applicants:

  1. All Central Government, Defence, local government, TNEB Pensioners, Retired IOB employees, etc. whoever pension that is original Order (PPO) remains into the custody of Indian Overseas Bank
  2. Other Pensioners, such as Pensioners of Municipal Corporations, State national pensioners, Ex- gratia pensioners, etc., whoever retirement benefits are disbursed by Government Treasuries in the form of cheques drawn in preference of the financial institution, depending on mandate regarding the pensioner
  3. Family pensioners of this above mentioned groups are additionally qualified

Take note that:

  1. The ex-staff member pensioners of Asia Overseas Bank under any of the above category are perhaps maybe not qualified to receive an individual loan under this scheme
  2. Malaysian Government pensioners pension that is receiving the financial institution may also be maybe perhaps not qualified to avail this loan scheme

Interest rate: 1 year MCLR (8.50%) + 1.50% [0.20% (strategic premium) + 1.30% (danger Premium)] = 10% onwards

Payment period: The payment duration is 60 months if you are not as much as 70 years and 3 years if you are above 70 years. The payment duration also incorporates the holiday that is moratorium of three months.

Loan Quantum:


  1. For Pensioners as much as 70 years: Either guarantee from spouse or any among the heirs that are legal from 3rd party
  2. For Pensioners above 70 years as well as for household pensioners: Either guarantee from spouse or any one of several appropriate heirs. If spouse/legal heir just isn’t available, 3rd party guarantee can be had

In case there is any question, you’ll phone the lender (toll- free quantity). Alternatively you’ll request a call straight right straight back through the bank’s customer service division by filling in the “Reach Us” form regarding the Indian Overseas Bank formal site with you details how many payday loans can you have in Delaware.

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