National Chronicle
Business/Economy National Top News

SBI launches Corona Special Loan, only to pay this interest

New Delhi: State Bank of India, the country’s largest state-run bank, has brought the Corona Special Loan Scheme to help the country’s business people from the outbreak of Corona. This facility named Covid 19 Emergency Credit Line will be applicable till June 30. Which will be equal to 10% of the capital limit. The special thing is that a maximum loan of up to 200 crores can be taken in it.
– Take advantage of this scheme of post office, your hard earned money will not be caught in the outbreak of Corona virus

7.25 percent interest rate has been kept

The rate of interest charged under this loan scheme has been kept at 7.25 per cent. No processing fees or prepayment penalty will be charged under this facility. SBI is the first bank to launch this scheme. Seeing this, other government and private banks will also plan to launch such a scheme.

This scheme will be for one year only

According to a circular issued by SBI to all its branches, this scheme has been introduced to meet the capital shortage caused by the corona virus. This scheme is introduced as a demand loan. The duration of which will be for one year. That is, after one year you will have to pay the entire rupee. There is hope of getting big relief to small and medium traders under this scheme. Businessmen who have no overdue till 30 days or March 16 and borrowers who have taken loans for small business will also be able to take advantage of this scheme.

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