Personal Loan

A Personal Loan During Covid-19

Money is always the main source of income and a medium to exchange things like food, shelter etc. The nationwide banks and financial institutions started with a new policy to help the people who are affected by the covid 19 pandemics.  During this the government announced halting paying the rent, bill payment, EMI, electricity bill etc, and also they removed the minimum balance requirement in all banks. This helped people who are facing trouble in these daily expenses.

ICICI Personal Loan can be of good use when it comes to the personal loan.

The government is also involved in free health care and greater services to tribal people in connection with education, food, and other basic amenities.  

The whole nation worldwide started using the online payment method, which included google pay, phone pay, amazon pay and many more in India.

The following banks provided a special covid 19 personal loan policy :

  • The Bank of Maharashtra.
  • The Punjab National Bank (PNB).
  • The Indian Overseas Bank (IOB).
  • The Bank of Baroda (BoB).
  • The Indian Bank.
  • The Union Bank of India.
  • The UCO Bank.
  • The State Bank of India (SBI).
  • The Bank of India.
  • Bank of Maharashtra Emergency Credit Line 

Documents required:

  • Proof of income
  • Employment proof
  • Pan card
  • Form 16 
  • SB account 
  • KYC documents

Bank of Maharashtra is giving the Bank of  Maharashtra Emergency Credit Line – consumer loan theme COVID-19 to all or any of its existing equity credit line customers so that they'll meet the immediate liquidity necessities throughout this COVID crisis. The theme is accessible solely until 30/06/2020

  • The SAHYOG COVID 19 Personal Loan Scheme Punjab national bank  

All salaried permanent/ confirmed staff of Central/State Govt./PSUs and every one purported organisation/establishments, as well as colleges and faculties, autonomous bodies/ nursing homes/ hospitals UN agency, are drawing their remuneration through accounts in PNB (account holders with erstwhile OBC and UBI are eligible).

  • The Punjab National Bank Aabhar Rin

All individuals who have a pension and draw a pension from the PNB branch are only eligible for Punjab National Bank Aabhar Rin.

This scheme is given to the already existing people in PNB branches, through this people are given financial help for sole medical purposes connecting with the coronavirus breakout. this scheme stopped it running on 30/6/2020.

  • The Bank of India COVID-19 Personal Loan

The CPL was introduced by the Bank of India (BOI) in the period of covid 19 pandemics for the people who need financial assistance during the pandemic in India.

Eligibility :

  • The individual should be having a BOI account also should receive a salary in that account for at least 12 months.
  • All existing people of BOI with home loan borrowers are personal loan borrowers.
  • Not available for the current or ex-staff of the bank.

Documents needed:

  • Salary slip.
  • KYC document.
  • Filled covid 19 personal loan application.

Indian Overseas Bank Insta Pension-COVID-19 Relief Loan:

Indian Overseas Bank Insta Pension-COVID-19 Relief Loan is given to the pensioners who have difficulties in getting the required money to conduct their needs, this bank stopped Insta Pension-COVID-19 Relief Loan on 30/6/2020. Visit Personal Loan Eligibility for more information.

  • All Central Government, Defence, regime, TNEB Pensioners, Retired IOB workers, etc. whose original Pension Payment Order (PPO) remains within the custody of Indian Overseas Bank.
  • Other Pensioners, like Pensioners of Municipal firms, state government pensioners, Ex- gratia pensioners, etc., whose pensions are disbursed by Government Treasuries using cheques drawn in favour of the bank.
  • Family pensioners of the above-named classes also are eligible.


The COVID nineteen emergency loans mentioned on this page are discontinued by banks as of thirty-first July 2020. The main points on this page are for deposit info functions solely. although these loans are not any longer on the market, you'll be able to still compare and select personal loans from individual banks to satisfy varied personal money wants.


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