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As corona hails the global socio economic political scenario there are now many banks that are actually helping people to stay afloat in a totally unstable economic condition. Various banks have already waived off various charges like the ATM charges, minimum balance fines, digital transaction etc. various other banks have joined in by announcing new loan schemes to support retail borrowers.
The latest announcement was made by Canara bank which has unveiled new credit policy with softer terms and no additional security. This new scheme comes in with immediate effect make the borrowers to be eligible to borrow from 10 per cent to 35 per cent of their already existing working capital. This new loan scheme is believed to be very helpful to the borrowers who are now in a difficult position as they are trying to tide over liquidity and cash problems.
The Indian bank has announced a special covid emergency loan schemes for all its customers. The bank also now make available salary loans to salaried class and pension to pensioners upto a limit of 2 lakhs. Bank of India has also unveiled a covid emergency loan as well salary loans upto a three times the last drawn salary.
