State Bank of India, Chairman, Dinesh Khara announced that public sector banks (PSBs) will offer unsecured personal loan for COVID treatment up to Rs 5 lakh at a concession rate.
The banks are offering a minimum loan of Rs 25,000 for COVID treatment.
In the case of SBI, the interest rate for the loan will be around 8 per cent, but it will differ across banks.
He said this on Sunday in presence of IBA, Chairman Rajkiran Rai and IBA Chief Executive Officer, Sunil Mehta.
The PSBs will be providing this loan under Emergency Credit Line Guarantee Scheme (ECLGS).
More details awaited.
(To receive our E-paper on WhatsApp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)
