InvestorQ : Are PSU banks like SBI going to provide loans for COVID treatment individuals?
Rutuja Nigam made post

Are PSU banks like SBI going to provide loans for COVID treatment individuals?

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2 weeks ago
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All PSU banks will provide unsecured loans ranging from Rs.25,000 to Rs.500,000 to individuals to meet COVID-19 hospitalization costs for family members. SBI was the first off the block to announce details and rates of this scheme, but we will come back to that. This is part of three new loan products under the COVID package offered to individuals, vaccine manufacturers, hospitals, labs, oxygen suppliers, logistics units etc.

SBI has already announced that it would offer a maximum loan for COVID treatment of up to Rs.5 lakhs at the rate of 8.5%, repayable over a period of 5 years. Hospitals and diagnostic centres can avail loans up to Rs.2 crore at 7.5%. These loans, will classify as priority sector lending.

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