COVID-19: Apply Online Personal Loan Plans Offers

Coronavirus Lockdown Best Offers for Personal Loan Plans April 2020: Jobs and Offices are closed since 20th March 2020. PM Narendra Modi announced Complete Lockdown due to COVID-19. RBI has already given relaxation to the Loan Installment (EMI) for 3 Months Moratorium to defer their Loan EMI, Credit Card Dues.

As 21 days lockdown is going to end on 12th April 2020 but PM & CM hinted that lockdown will be extended to new date (Maybe 30th April 2020). Chief Minister of Odisha has already given order to extend Lockdown till 30th April 2020 in Odisha State (Only Essential Service) Office and Manufacturing will continue.

People associated in Jobs in other sectors i.e. Clothing, IT Sector, Travelling, Hotel, Restaurant, Schools, Colleges, Shops, Garments Business, Vehicle (Auto), Services, etc. will be closed during the Lockdown.

Because of this, people may need some CASH to meet essential expenses. Here, we are providing the best offers and interest rates for Personal Loan during COVID-19 Lockdown.

Note: Govt. of India or RBI has not given any guidelines for Personal Loan (or any Moratorium). PM Personal Loan Scheme 2020 etc. (So don’t fell prey to fraudsters – do not provide OTP or Bank Details to anybody – Bank Official never ask OTP).

COVID-19 Personal Loan Plans Offers

Personal Loan can be borrowed from various Public/ Private, NBFC, Loan Lending Financial Institutions etc. The Personal Loan is based on your Monthly Salary and City of Residence. Sometime PAN Card and CIBIL Score is verified by the Lender.

During the Lockdown, the Banks (SBI, Axis Bank, ICICI, HDFC, BOB, PNB) are lending Instant Personal Loan with low-Interest Rates and EMI’s.

SBI Personal Loan Coronavirus Lockdown

On 27th March 2020, Reserve Bank of India has cut the repo rate by 75 bps points. During the COVID-19 Lockdown, State Bank of India is providing Personal Loans at lowest interest rate of 10.55% and a maximum of 16.60% yearly.

Lowest Interest Rate 10.55%
Maximum Interest Rates 16.60%
Processing Fee 1%
Loan Tenure 6 months (minimum) to 72 months (maximum)
Loan Amount ₹ 50,000 to ₹ 15 Lakh
Part Prepayment Charges Not allowed
Preclosure Charges Allowed after 6 EMI’s, 3% charges

Short term loans/ Payday loans are not provided by SBI. The Rate of Interest is based on your income, job stability, loan amount, City of residence, CIBIL score, credit profile, existing obligations, verification, and other factors.

SBI Personal Loan Coronavirus April 2020

Axis Bank Personal Loan COVID-19 Lockdown

Axis Bank lends a maximum of 25 Lakh Personal Loans. Also, Part Prepayment is allowed after paying 1st EMI. The minimum interest rate is 10.99% and a maximum of 16.99%.

The minimum tenure is 12 months and a maximum of 60 months.

Axis Bank Personal Loan Interest Rates start from 10.99% with lowest rates for salaried borrowers

Lowest Interest Rate 10.99%
Max Interest Rate 16.99%
Processing Fee upto 1.75%
Loan Tenure 12 months to 60 months
Loan Amount ₹ 50,000 to ₹ 25 Lakh
Part Prepayment Charges Allowed after 1 EMI’s, Nil charges
Preclosure Charges Allowed after 1 EMI’s, Nil charges

Axis Bank COVID-19 Loan Offers

ICICI Personal Loan Coronavirus Offers

In the comparison of Axis Bank and SBI Personal Loan, ICICI Bank is offering Personal Loan with higher Interest Rates (11.25% minimum rate). The Processing Fee of PL is also at 2.25% of loan amount.

ICICI is offering a maximum of 30 lakh for a maximum of 5 years. The interest rate of Personal Loans shall be determined basis the applicant’s income, employer and relationship type with ICICI Bank. The interest rate offer shall be at the sole discretion of ICICI Bank.

During the COVID-19 Lockdown, the processing Personal Loan at ICICI Bank will be fast.

The Personal Loan disbursement turn around time since application shall be subject to the applicant’s eligibility as per ICICI Bank’s policy and applicant providing the relevant documents in time.

Lowest Interest Rate 11.25% APR
Maximum Interest Rate 22.00% APR
Processing Fee Upto 2.25% of loan amount
Loan Tenure 12 months to 60 months
Loan Amount ₹ 50,000 to ₹ 30 Lakh
Part Prepayment Charges Not allowed
Preclosure Charges Allowed after 6 EMI’s, 5%

ICICI COVID-19 Personal Loan Offers

Bajaj Finserv Personal Loan Coronavirus Lockdown Rates

Bajaj Finserv provided instant Personal Loan during the COVID-19 Lockdown. The Minimum Interest Rate is 11.99%. Also, you can check Best Offers by entering your PAN CARD and Mobile Numbers. If you are already completer EMI of Bajaj Finserv than. Pre Approved Loan is also available for you.

Part Pre-Payment facility is also available after paying 1st EMI. Maximum Interest Rate is 15.50% APR.

Lowest Interest Rate 11.99%
Maximum Interest Rate 15.50%
Processing Fee Starting from 1.50%, Up to 3%
Loan Tenure 12 months to 60 months
Loan Amount ₹ 1 Lakh to ₹ 25 Lakh
Part Prepayment Charges Allowed after 1 EMI’s, 2%
Preclosure Charges Allowed after 1 EMI’s, 4%

Bajaj Finserv Coronavirus Personal Loan

KOTAK BANK Pre-Approved Personal Loan

Kotak Bank is offering a minimum of 10.99% APR (Fixed). There is no maximum or minimum interest rates.

The individual between 21- 58 years of age is eligible for availing a personal loan at Kotak Mahindra Bank. The following are some of the other criteria for availing a Personal loan.

  • A net salary of Rs.20,000/- per month
  • A person who has a minimum educational qualification of being a graduate.
  • An active resident of a city for at least 1 year
  • A minimum work experience of at least 1 year
Lowest Interest Rate 10.99% (fixed)
Processing Fee Upto 2.5% of the loan amount+ GST
Loan Tenure 12 months to 60 months
Loan Amount ₹ 1 Lakh to ₹ 15 Lakh
Part Prepayment Charges Lock-in period for 12 months. After 12 months, 5% foreclosure charges + GST on principal outstanding.
Preclosure Charges Allowed after 12 EMI’s, 5% foreclosure charges

Kotak Bank COVID-19 Personal Loan – Apply Now

HDFC Personal Loan COVID-19 Offers

HDFC Bank is also providing very good offer with a minimum interest rate of 10.75%

  • Individuals between 21 and 60 years of age
  • Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer
  • Those who earn a minimum of ₹ 15,000 net income per month (₹ 20,000 in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin)
Lowest Interest Rate 10.75% APR
Maximum Interest Rate 21.30% APR
Processing Fee Up to 2.50% of the loan amount subject to
a minimum of ₹ 2,999/- & maximum of ₹ 25,000/-
for salaried customers
Loan Tenure 12 months to 60 months
Loan Amount ₹ 50,000 to ₹ 75 Lakh
Part Prepayment Charges Allowed after 12 EMI’s, 2-4%
Preclosure Charges Allowed after 12 EMI’s, 2 – 4%

HDFC Personal Loan Plans (Coronavirus Lockdown) 

Bank of Baroda (BOB) Personal Loan

Bank of Baroda has a special COVID-19 Personal Loan Offer. So, if you have

  • BRLLR + SP+ 2.75% per annum with monthly rest (ROI is irrespective of Bureau score)
  • Penal interest: Penal interest @2% shall be levied on overdue amount/ non-compliance of terms and conditions
  • Prepayment Charges: –NIL—
  • Processing Charges: Rs. 500/- plus applicable GST
  • Minimum: Rs.25,000/-
  • Maximum: Rs.5.00 Lakhs

BANK OF BARODA COVID-19 Personal Loan

Apart from the Banks (Public/ Private). Non-Banking Financial Company  (NBFC) are also offering COVID-19 special personal loan to the individual. Some of the Popular NBFC offer loans via Mobile App (Download it from Google Play Store/ iOS) or Online Website.

KreditBee – Personal Loans from ₹ 1,000 to ₹ 2 Lakhs as per your Approved Credit, with 12.24% Interest Charges.
Money View Loans: Starting from 1.33% per month, Rs. 10,000 to Rs. 5,00,000
CashBean: Personal Loan Rs.1000/- to Rs.60000/-, the annual interest rate is upto 33%.
GotoCash
CashMama
Dhan
PhoneParLoan
Kreditzy
UCash
NIRA
Instant Personal Loan App – RapidRupee
CashCred
MoneyEnjoy
Instant Personal Online Cash Loan App – Mi Credit
RupeeCash
FlashCash
LoanFront – Instant Online Personal Loan
Instant Personal Loan App Online Loan-CashPanda
iCredit – Instant Personal Loan Mini Cash Loan App
Instant Personal Loan App – PaySense
Personal Loan App Get Instant Money & Quick Loans
LendKaro – Loan Instant Personal Loan App Online
Z2P
Atome
Loanflix
Cashbull-Rupeeredee Loan App & Cash Loan App
CashTm Cash Thru Mobile
Branch Personal Loan
InstaRupee – Instant Personal Loan App Online
NanoCred
StashFin
MoneyTap
Quick Loan
MoneyWOW
KreditOne
CASHe
iEasyLoan
LoanBro
OkRupee
MoneyMore
LoanAdda
CashPapa
Loan Raja
CashIn – Personal Loan Online App
RupeeLoan
EarlySalary
Mystro

Note: You can get Personal Loan on the above NBFC Lenders. Just install the official App and Check your eligibility.

FAQ – COVID-19 Personal Loan Providers (Best Offers)

Read these questions and answers that will help you in choosing Bank, NBFC Lender for Personal Loan during Coronavirus Lockdown.

✅ Does any bank provide a special Personal Loan in Coronavirus?

Yes, Bank of Baroda is offering Personal Loan “COVID-19 Personal Loan” during the Lockdown. You can apply through an offline application form available on BOB Website.

✅ Is RBI has given Moratorium for Personal Loan too?

Yes, RBI 3 Months Moratorium is also applicable to Personal Loan. The last date to defer PERSONAL LOAN EMI is 31 May 2020.

✅ Which NBFC is best Personal Loan Provider?

KreditBee is the best because of its user reviews. Another best part is the lowest Interest rates among the NBFC, it is 1.02% monthly.

✅ Do SBI has special COVID-19 Personal Loan April 2020?

No, State Bank of India has not launched any new PErsonal Loan Plan. But you can avail it by visiting ONLINE Website and check your Eligibility, Submit documents and your loan amount is disbursed in your Bank Account.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x