Due to the country-wide lockdown that had been put into effect across India, some regions had to close down entirely until things returned to normal and they are still paying for their loss in many ways. As a consequence, a lot of individuals and businesses couldn't use their regular accounts. By collaborating with leading commercial banks in the country, we've put together a list of special COVID-19 crisis loans that can be used to help you deal with your bills that have piled up because of the situation.

List of Banks Providing COVID-19 Loans in India

  • Punjab National Bank (PNB)
  • Indian Overseas Bank (IOB)
  • Bank of Baroda (BoB)
  • Indian Bank
  • Union Bank of India
  • UCO Bank
  • State Bank of India (SBI)
  • Bank of India

Here we are mentioning some of these recently introduced COVID-19 personal loans and business loans that could help you out: 

  1.  Bank of India COVID-19 Personal Loan for Individuals

The Bank of India has introduced the COVID-19 Personal Loan to help individuals meet their personal financial obligations in light of the CoronaVirus Crisis and its aftermath. Following are the listed features of this Loan program:


  • The applicant should be a Salary account holder of BoI 
  • All existing Bank of India personal loan and home loan borrowers (irrespective of salary account tie-up)
  • Not available to current/ex-staff of Bank of India

Loan Amount

 The maximum loan amount that can be sanctioned under the scheme is Rs. 5 lakh. Although the applicant must meet the following criteria:

  • 3 times of monthly income as per last Income Tax Return for self-employed
  • 3 times of latest gross monthly salary for salaried individuals 

Rate of Interest and Processing Fee

The Loan is being offered at the rate equal to BoI RBLR (Repo-based lending rate) of 7.25% p.a. Processing fee -  NIL.

Loan Tenure

The maximum repayment tenure allowed would be 36 months including a moratorium of 6 months.

Documents Required

For further or detailed information you will have to reach out to your nearest BOI branch. Alternate contact details of Bank of India are


Toll-free phone numbers: 1800-220-229/1800-103-1906

Chargeable phone number: 022-409-1919     

  1. Baroda Personal Loan COVID 19 by Bank of Baroda (BoB) for Individuals

Bank of Baroda has introduced the Baroda Personal Loan COVID 19 so that individuals can meet any personal purpose (except speculation purposes) including temporary liquidity mismatch due to COVID-19. 

Eligible Applicants:

  1. Existing customers of home loans (all variants), loans against property, or auto loans with Bank of Baroda can apply
  2. Applicant must obtain a minimum relationship of 6 months with the bank where:
  • Loan should be fully disbursed and the moratorium period must be completed
  • A minimum of three instalments must have been paid
  • Account has never slipped in the SMA1 category till 29.02.2020
  1. A minimum credit score of 650

Rate of Interest: BRLLR (Baroda Repo Linked Lending Rate) + SP+ 2.75% per annum with monthly rest (ROI is irrespective of credit score)

Repayment Tenure: Upto a maximum of 60 months

Loan Quantum: Rs. 25,000 to Rs. 5 lakh

Processing Charges: Rs. 500 with additional applicable GST

For any other information, you can contact the customer care of Bank of Baroda at 1800 258 44 55 and 1800 102 44 55 (toll-free numbers).

3. IND-COVID – Emergency Salary Loan by Indian Bank for Salaried Individuals

 IND-COVID – Emergency Salary Loan from Indian Bank has been introduced exclusively for salaried individuals to provide financial assistance in case of an unforeseen emergency. Below mentioned are the key features of the Loan program:

Eligible Applicants:

  • Permanent Government/Quasi-Government/MNCs/Board/Other reputed company employees
  • Must be having a minimum of 2 years of service in the organization placed currently
  • Applicants must have a salary account with Indian Bank.
  • Should be an existing Indian Bank Home Loan borrower (irrespective of salary account maintained with Indian Bank)
  • Should be an existing borrower of Indian Bank Salary Loan

Rate of Interest: 9.50% p.a. fixed-rate

Repayment period: Up to 36 months including a moratorium period of 6 months

Loan Quantum: 20 times gross monthly salary up to a maximum of Rs. 2 lakh   

Processing Fees/Prepayment Charges: Nil

Minimum age of applicant: 21 years

4. IND-COVID – Emergency Pension Loan by Indian Bank for Pensioners

Indian Bank is a trusted name in the banking sector, offering tailor-made solutions to customers' needs through its package of products, facilities, and services. The IND-COVID Emergency Pension Loan for pensioners is a unique initiative to provide financial assistance to pensioners for unforeseen expenses related to COVID -19.

Eligible Applicants:

  1. Should be Central and State Government pensioners as well as family pensioners and Indian Bank retirees (both voluntary and superannuation retirees) and must be getting their pensions through Indian Bank. 

2) Should be an existing borrower under the Indian Bank Pension Loan scheme

Note: CRS retirees and EPF pensioners are not eligible 

Rate of interest: 8.75% p.a. fixed rate

Repayment period: Maximum 36 months including a moratorium of 3 months

Loan Quantum: 15 times net monthly pension fewer TDS up to a maximum of Rs. 2 lakh

Processing Fees/Prepayment Charges: Nil

Age-related criteria

For regular pensioners 

  • Maximum entry age - 68 years 
  • Maximum exit age - 75 years

For family pensioners

  • Maximum entry age - 68 years
  • Minimum exit age - 73 years.

For more details contact Indian Bank Toll-free numbers – 1800-425-000-00 or 1800-425-4422*. You can send an email with details of your query to the following:


5. State Bank of India COVID-19 Emergency Credit Line for Businesses

 SBI has announced an additional ad-hoc credit line facility for existing business borrowers to help them mitigate liquidity problems caused by the current Coronavirus crisis. SBI’s move comes at a time when several Indian businesses, who account for around 75% of the country’s IT exports, have seen their operations getting hit due to the fallout of the virus.

Some key details of the scheme are:

  • Interest rate : 7.25% (fixed rate)
  • Repayment period: 6 EMIs after 6 month moratorium period
  • Maximum loan amount: Rs. 200 crores (10% of existing Fund Based Working Capital)

You can obtain the required additional details related to the scheme from a nearby SBI branch, the official SBI website or you can email your queries to

State Bank of India toll-free contact center numbers are – 1800-11-2211 and 1800-425-3800

6. SHG-COVID – Sahaya Loan by Indian Bank for Self-Help Groups

 Sahaya Loan by Indian Bank for Self-Help Groups is a loan facility that is specifically targeted at self-help groups (SHGs) across the country. It has been designed to provide liquidity support to SHGs when they are faced with unforeseen contingencies.

Maximum Loan Amount: Rs. 1 Lakh for each SHG

Repayment Tenure:  36 months and moratorium of 6 months

You can contact Indian Bank on Toll-free numbers – 1800-425-000-00 or 1800-425-4422* or Email Indian Bank at /

7. Union Bank of India COVID Emergency Line of Credit for Businesses

Union Bank of India announced its COVID emergency line of credit for businesses, providing much-needed liquidity support to businesses being affected by the current crisis. This product is expected to help businesses avoid adverse impacts due to liquidity disruptions caused by COVID-19, although the details are still awaited. 

Union Bank of India contact details: Toll-free numbers – 1800-2222-44 / 1800-208-2244* 

Email Union Bank of with details of your query.

8. UCO Bank COVID 19 Emergency Credit Line for Businesses

 UCO Bank has put together an Emergency Credit Line for businesses to help them meet the temporary cash-flow crunch and liquidity crisis caused by COVID-19. While generals are currently available, you can find additional details on the UCO Bank official website or by reaching out to them.

UCO Bank contact details – Toll-free number: 1800-274-0123* / email – or

9.  Indian Overseas Bank COVID Line of Support Scheme for MSME Businesses

The Indian Overseas Bank introduces a new COVID emergency loan scheme for medium and small enterprises (MSME). This loan is available to all current MSME borrowers of the bank. The product aims to provide financial support to MSMEs suffering as a result of COVID -19 aftermath in line with IOB’s policy of supporting MSMEs.

The Key Features of the scheme are:

  • Working capital loan for up to 12 months
  • Maximum loan amount: Rs. 1 crore
  • Repayment Period: 6 monthly installments
  • Prepayment charges: NIL

For further details regarding the loan scheme, you can contact your nearest branch or you can also contact at their toll-free number: 1800-425-4445*

How Can You Apply for the COVID - 19 Personal Loans? 

 Currently, there is no way to apply for a COVID-19 personal loan online. However, different banks have a different lending process. The best thing to do is call up your bank and ask about the procedure of applying for a COVID-19 personal loan. It will take some time but it's worth it in the end. Alternatively, you can also reach out to them through their toll-free numbers and customer care emails. Following are details of some major COVID-19 loan providers in India. 


Contact Details

Punjab National Bank

Toll-free numbers: 1800-180-2222 or 1800-103-2222.


Bank of Maharashtra

1800-233-4526. Email:


Bank of Baroda

Toll-free numbers 1800-258-4455 and 1800-102-4455


State Bank of India 

1800-11-2211 / 1800-425-3800

Indian Bank 

1800-425-000-00 / 1800-425-4422 /

Indian Overseas Bank


Go to the “Reach Us” section of the bank’s website,