The repayment tenure is 5 years and SBI would charge interest of 8.5% on annum. Other banks are free to decide their interest rate.
Public Sector Banks (PSBs) have announced to provide unsecured loans of upto ₹5 lakh to individuals to meet their and family members’ COVID-19 treatment cost. This comes in the wake of the ongoing second wave of the pandemic that has swept across the country unleashing untold miseries on families across income groups.