As lockdown is underway across the nation, the financial condition of people has started to be disastrous and many are suffering a lot amid this crisis. While many companies have cut wages, the condition of small traders has also started to deteriorate due to the closure of the business due to lockdown rule. However, the country's largest state-owned bank, State Bank of India has introduced an emergency loan in view of these needs of the common man at cheapest interest.
If you are in dire need of money in lockdown and you are worrying about how and where to arrange that, then you don’t have to panic at all. For this, you do not need to get out of your house, instead you can fulfill your needs by getting an emergency loan from SBI in just 45 minutes while sitting at home.
Get Rid of EMI for Six Months:
Moreover, after taking an SBI emergency loanSSS, you will not need to pay EMI (EMI) for about six months from the beginning.
That is, if you take an emergency loan from SBI in the month of May, then you will not need to pay EMI till October. Your EMI will start only after six months.
Only SBI customers can get emergency loans:
SBI's emergency loan facility is only for its own customers. Under this, customers of other banks cannot get cheap and quick loans. The biggest thing is that SBI will have to pay the cheapest rate of 10.50 per cent to its customers, which is much cheaper than the interest of any bank in the country.
How to Apply for an emergency loan from SBI?
To get an SBI emergency loan, customers need to write PAPL from their registered number and leave the space and write the last 4 digits of their account number and then send the message to 567676. After you send this message, you will get a reverse message whether you are eligible for an emergency loan or not. If you have come back with a message and have been told that you are eligible for it, you will get a loan after following four processes. After this, click on Avail Now in SBI's app, then choose the time period and the amount. After doing this, OTP will come to your registered number. The money will reach your account as soon as you put it.
