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  • SBI Kavach Personal Loan

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  • SBI Kavach is a personal loan scheme launched by the State Bank of India which you can avail if you or any member of your family have been diagnosed with Covid-19 after 1 April 2021. You can apply for this loan scheme and use the amount to meet the cost of the treatment. 

    Features and benefits of SBI KAVACH Personal Loan Scheme 

    • You can apply for this personal loan scheme either offline or online. In case of the latter, the loan scheme will be pre-approved through YONO mobile app. 
    • You must be a customer of the bank. You can be a salaried, non-salaried employee, or a pensioner. 
    • The loan facility is term loan. 
    • Once the application for the loan is approved, the amount will be credited straight to your bank account. 
    • You will have to maintain a certain credit score. It will be at the discretion of the bank to decide the minimum credit score you must maintain. 
    • There are no prepayment charges. 
    • There are no foreclosure charges. 
    • You are not required to pay any processing fee. 
    • You do not need to provide any security or collateral to avail this loan. 
    • The repayment mode can be a standing instruction on your account. 

    SBI KAVACH Personal Loan Details 

    Loan Amount  Min/Max 
    Interest Rate  Rs.25,000 – Rs.5 lakh 
    Loan Tenure  5 years including 3 moratoriums 
    Minimum Income Required  8.50% p.a. 

    Eligibility and Documents Required 

    • Salaried, non-salaried individuals, and pensioners can apply for this loan.  
    • Covid positive report is required to be submitted in order to avail this loan scheme. 

    SBI Kavach is a personal loan scheme launched by the State Bank of India which you can avail if you or any member of your family have been diagnosed with Covid-19 after 1 April 2021. You can apply for this loan scheme and use the amount to meet the cost of the treatment. 

    Features and benefits of SBI KAVACH Personal Loan Scheme 

    • You can apply for this personal loan scheme either offline or online. In case of the latter, the loan scheme will be pre-approved through YONO mobile app. 
    • You must be a customer of the bank. You can be a salaried, non-salaried employee, or a pensioner. 
    • The loan facility is term loan. 
    • Once the application for the loan is approved, the amount will be credited straight to your bank account. 
    • You will have to maintain a certain credit score. It will be at the discretion of the bank to decide the minimum credit score you must maintain. 
    • There are no prepayment charges. 
    • There are no foreclosure charges. 
    • You are not required to pay any processing fee. 
    • You do not need to provide any security or collateral to avail this loan. 
    • The repayment mode can be a standing instruction on your account. 

    SBI KAVACH Personal Loan Details 

    Loan Amount  Min/Max 
    Interest Rate  Rs.25,000 – Rs.5 lakh 
    Loan Tenure  5 years including 3 moratoriums 
    Minimum Income Required  8.50% p.a. 

    Eligibility and Documents Required 

    • Salaried, non-salaried individuals, and pensioners can apply for this loan.  
    • Covid positive report is required to be submitted in order to avail this loan scheme. 
        

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    SBI Kavach Personal Loan Reviews

    • SBI
      "Easy loan approval"
      0.5 5.0/5 "Blown Away!"
      STATE BANK OF INDIA has offered me a personal loan and the loan amount was Rs.5L, the rate of interest was normal 11.5%. Fore closure charge is there and i opted for the tenure of five years and i am paying EMI of Rs.10,000. This loan got disbursed within a day and that was a smooth process.
      Was this review helpful? 148
      , chennai
      Reviewed on Mar 16, 2020
    • SBI
      SBI
      "Very transparent and reliable services"
      0.5 4.5/5 "Excellent!"
      From YONO app i have applied the personal loan with State Bank of India. They have sanctioned the loan in 24 hours and They have not collected any documents from my end. They just got the agreement from email and they have not charged me any processing fee and the interest rate is only 9%. I have selected the tenure period of 3 years. There is a pre-closure facility without having any additional charges.
      Was this review helpful? 85
      , hyderabad
      Reviewed on Mar 11, 2020
    • SBI
      "Medium"
      0.5 4.0/5 "Great!"
      I am holding an account with SBI for long years hence I got pre approved loan offer from their end and taken a personal loan on one year back. Within 2-3 days they have sanctioned the loan, so far I had paid EMIs on time and I am going to close the loan by next month. Mobile app is user friendly to access but only interest rate is high. EMI need to pay of around 6.5K - 7K.
      Was this review helpful? 57
      , bangalore
      Reviewed on Feb 26, 2020
    • SBI
      "Good Loan Service"
      0.5 4.0/5 "Great!"
      I have a savings account with SBI so when i had an requirement they have offered me a personal loan quickly. On the spot, they have sanctioned my loan without any documents. I have selected the duration of 1 year to close this loan. Taken the loan amount of Rs. 60000 and i pay the EMI of Rs. 5000 every month. Its a interest free loan.
      Was this review helpful? 51
      , visakhapatnam
      Reviewed on Feb 24, 2020
    • SBI
      "Interst rate was high"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan from SBI, the loan amount was Rs. 10L. The rate of interest was high 14% and i am paying EMI 23,000 for the tenure period of 5years. I applied this loan directly through bank that was very easy process and i received this loan within 2 days, pre closure charges are not known.
      Was this review helpful? 48
      , coimbatore
      Reviewed on Feb 20, 2020
    • SBI
      "Easy loan approval"
      0.5 4.0/5 "Great!"
      I have applied personal loan directly from SBI. Process was very good and i received this loan with in 2 -3 days. Even my credit score was good, i have submitted all my documents and i signed so it got approved. The rate of interest was very less with the tenure of 2 years and EMI 6000 , their service was good.
      Was this review helpful? 49
      , bangalore
      Reviewed on Feb 20, 2020
    • SBI
      "Good loan offer from SBI"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SBI on last 6 months back. The rate of interest around 12.75% and processing fee was detected of 0.5% is less. The loan amount of 6.50L which is sufficient. Since I am holding a salary account with this bank so I got pre approved loan offer, they have provided the amount within 4-5 days and tenure period is 6 years. There is a pre closure option with charges of high around 2-3% but the locking period is 6 months. Am EMI around 12,800 rupees. I use to get remainder message on time for the payment.
      Was this review helpful? 46
      , jamshedpur
      Reviewed on Feb 20, 2020
    • SBI
      "Need to imrpve their service "
      0.5 3.0/5 "Satisfactory"
      I am not satisfied with SBI service. I have taken a personal loan on 3 months back, I got this loan offer from bank. The loan amount was sanctioned of 3.5L with tenure period of 5 years. The rate of interest is nominal and fee was applicable of 3,500 rupees. Through mobile app processed was done for the loan. EMI need to pay of 6,500 rupees.
      Was this review helpful? 30
      , dindigul
      Reviewed on Feb 17, 2020
    • SBI
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken SBI personal loan for my business purpose.The rate of interest and the processing fee was very less and loan got sanctioned on time,still this loan is active.I have availed loan amount of 15lakhs for the tenure of 3 years and still this loan is active on my account .
      Was this review helpful? 31
      , chennai
      Reviewed on Feb 14, 2020
    • SBI
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan directly through SBI .This loan is still going on .The rate of interest and the processing fee was quite nominal.The processing fee was RS..1000 since have salary account the loan got sanctioned it was a paperless approval .I am happy with the service.
      Was this review helpful? 30
      , bangalore
      Reviewed on Feb 13, 2020
    • SBI
      "Easy loan approval"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SBI and the loan amount was Rs. 2L. The rate of interest was normal and i opted for the tenure period of 3 years. I am paying EMI 10K, pre closure charge is not applicable. My salary account is with this bank, so less documentation process and i received this loan within a day.
      Was this review helpful? 37
      , chennai
      Reviewed on Feb 10, 2020
    • SBI
      "Easy loan approval"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from SBI 3 years ago. The loan amount was Rs. 1,50,000 and the rate of interest was 12% which was nominal with the tenure of 3 years and i am paying EMI 4K. I have completed this loan right now and i got instantly with the minimum documents.
      Was this review helpful? 38
      , noida
      Reviewed on Feb 06, 2020
    • SBI
      "Good service"
      0.5 3.0/5 "Satisfactory"
      On 3 years before, I got a personal loan offer from SBI. The process was done on time and even disbursal amount of 5L was sufficient. Interest rate was nominal. EMI use to pay of 8,800 rupees. I was not aware about pre closure option. Their service was good. I had closed the loan 4months before only.
      Was this review helpful? 29
      , visakhapatnam
      Reviewed on Feb 05, 2020
    • SBI
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan of 6L from SBI on 2 years before. It is pre approved loan. So the amount was sufficient when compared to my requirement. The tenure period of 5 years. Rate of interest was 12% which is nominal for this loan. EMI need to pay of 14K on monthly basis and I use to get remainder message on time.
      Was this review helpful? 30
      , shillong
      Reviewed on Feb 03, 2020
    • SBI
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SBI on 5 years ago and I have already completed the same. I have been holding an account with this bank so I have chose to take the personal loan with them. They offered me a interest rate of 15% and there was no processing fee. I have no knowledge about the part payment and pre- closure. I have selected the duration of 5 years.
      Was this review helpful? 31
      , kolkata
      Reviewed on Jan 25, 2020
    • SBI
      "Good Loan service"
      0.5 4.0/5 "Great!"
      I got the reasonable interest rate for my personal loan from State Bank of India. In other bank interest rates are high so that i bought the personal loan from this bank. They have provided me a loan amount of Rs. 2 lakhs with the interest rate of 7% and the processing fee was just Rs. 500. I am paying the EMI amount of Rs. 9000 every month.
      Was this review helpful? 32
      , bangalore
      Reviewed on Jan 24, 2020
    • SBI
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken a personal loan with SBI on 4 years back. The loan amount of 8L was sanctioned which is sufficient as per my needs. Since for my personal need taken this loan. The tenure period of 4 years. Interest is 10.8% is fine and fee applicable of 10K. I use to get remainder message on time for EMI to pay of 17K. There is no option of pre closure. I have closed the loan and received NOC letter as well.
      Was this review helpful? 33
      , bangalore
      Reviewed on Jan 19, 2020
    • SBI
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      I have taken the personal loan from SBI because based on my savings account. They have provided me a pre- approved loan hence i got it. Even though its a nationalized bank, they are giving good co-operation to the customer. They offered me a interest rate of 12.5%. I took the loan on 7 months ago with the tenure period of 5 years.
      Was this review helpful? 42
      , namakkal
      Reviewed on Jan 18, 2020
    • SBI
      "Need to decrease the rate of interest"
      0.5 4.5/5 "Excellent!"
      I have applied a personal loan from SBI and the loan amount was Rs. 1.25L and the interest rate was 14% it is high actually. I applied this loan directly from bank and I am paying Rs. 4000 with the tenure of 4 years. I am not getting any alert message, call or even mail also.
      Was this review helpful? 57
      , bangalore
      Reviewed on Jan 18, 2020
    • SBI
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken personal loan through SBI .The rate of interest and the processing fee was very high it was 13% due to my requirement i have taken but it would be better if its reduced. It took one week time to get the loan and there was a delay in Verification process .I am satisfied with the service so far.
      Was this review helpful? 79
      , vellore
      Reviewed on Jan 16, 2020
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