How To Get A Loan During COVID-19
                     HOW TO GET A LOAN DURING COVID-19
 Whether you’re looking for an emergency personal loan or a 
business loan, the terms and conditions for acquiring loans have 
definitely undergone massive operational changes.
 With the current work from home pay cuts, furloughs, and 
layoffs due to business being affected, that finances might have 
suffered, due to which, loans might be more of a necessity now 
more than ever.
 In lieu of the same, many banks are doling out what is called a 
COVID-19 public loan.
What is a COVID-19 loan?
These loans are generally priced lower 
than regular, short-term loans. These 
have essentially been initiated in order 
to help manage temporary cash flow 
problems for existing customers during 
the “pandemic”.
Which banks are giving COVID-19 loans?
 Bank of India
 Bank of Maharashtra
 Union Bank of India
 Punjab National Bank
 Bank of Baroda
Eligibility:
 Only pre-existing customers who hold 
a loan, pension or salary account with 
the bank are allowed to apply for the 
COVID-19 loan.
 Approval of the loan application hinges 
upon a lot of other factors as well.
 You need to double-check with your 
bank for further details.
Interest Rates:
 These loans are priced at much lower 
interest rates than other loans.
 Interest Rate for these loans ranges 
between 7.2% to 10.5% per annum in 
comparison to 9% to 24% for normal 
personal loans.
Loan Amount:
 The loans that you can get from 
a COVID-19 loan amount ranges 
from as little as Rs 25000 up to a 
maximum of Rs. 5 lakhs.
Processing Fees:
 There are no processing fees for 
COVID-19 loans.
Should I take a COVID-19 loan?
 COVID-19 loan makes sense if you’re 
looking to consolidate your debts.
 When used smartly, these loans can 
help you replace high-cost loans and 
lower your debt burden.
 If you are considering a COVID-19 
loan to meet your cash-flow needs, 
be very certain that the problem you 
are facing is only temporary. 
For more details, visit 
https://www.moneyinminutes.in/