State Bank of India is soon to launch a digital platform to facilitate loan restructuring to its customers. It will be decided from this platform that which customer will get the SBI Loan Moratorium for how many days. It is expected that this platform will be launched in the last week of this month. It is also being speculated that it can be launched on September 24.
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| Currently SBI offers personal loans up-to RSS 20 lake with interest rates starting from 9.60% p.a. onwards |
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The proposed loan offering is aimed at providing relief to the salaried customers of SBI who are facing cash flow problems due to Covid-19, said SBI statement.
SBI offers various types of personal loans such as Cypress credit loan, SBI pension loan, pre-approved personal loans that cater to the needs of different borrowers. Personal loans offered by SBI may be used for various purposes such as business expansion, home renovation, medical emergency etc. Currently SBI offers personal loans up-to RSS 20 lake with interest rates starting from 9.60% p.a. onwards.
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In view of the increasing case of ATM Fraud, cash withdrawal rules have been changed. SBI has decided to implement 24 × 7 one time password (OTP) based ATM withdrawal facility in ATMs. This facility will be applicable from September 18 at all SBI ATMs across the country. Before that, SBI started the OTP-based ATM Withdrawal facility from 1 January 2020 to avoid ATM Fraud at night time. Under this, OTP is required while withdrawing cash of Rs 10,000.