Mumbai6 hours ago
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SBI’s Aarogya Healthcare Business Loan will come under the Kovid loan book. It has been made by the bank under the rules of the Reserve Bank.
- Loan up to Rs 10 lakh will be available for small cities
- Loan up to 2 crores will be available without any guarantee
The country’s largest bank State Bank of India (SBI) has launched Arogyam Healthcare Business Loan. This is a unique loan product designed to support the healthcare ecosystem.
Cash credit can be taken as term loan
According to the press statement issued by the bank, this new loan can be taken in the form of cash credit, term loan, bank guarantee and letter of credit. Under this, a minimum loan of Rs 10 lakh will be available while a maximum loan of Rs 100 crore will be available. This loan will be for 10 years and under this, the expenditure will be incurred on the expansion and setting up of the new facility.
Chairman launched the product
The bank said that it was launched by the bank’s chairman Dinesh Khara. This new product has been launched to support the healthcare sector of the country. Under this, all healthcare ecosystems such as hospitals, nursing homes, diagnostic centers, pathology labs, suppliers, importers, logistics companies can take loans. 10 lakh for small cities and then loan will be given to other big cities on the same basis. For big cities, the bank will give loans up to Rs 100 crore.
No guarantee up to 2 crores
Under this loan, the units and companies that take loans will not have to give any kind of guarantee or security for up to Rs 2 crore. The bank will cover it under the Guarantee Scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE). Dinesh Khara said that our healthcare system has been providing uninterrupted and best support in the country since last one year. In view of this, we have launched this product under Kovid-19.
This is a kind of business loan. We believe that the special loan product will be able to help companies in need. Arogyam Healthcare Business Loan will come under the Kovid Loan Book and it has been created by the bank under the rules of the Reserve Bank.
Personal loan was also launched
Earlier also the bank had launched a similar personal loan. Interest will be charged at the rate of 8.5% on that loan. The bank said in a press statement that loans up to Rs 5 lakh will be available for 60 months i.e. up to five years. Interest will have to be paid on it at the rate of 8.5%. Currently, interest rates are at historically low levels. Home loan is currently available at the rate of 6.70%. In such a situation, the bank has launched such a loan for corona patients.