Days after it was reported across sections of media that State Bank of India (SBI) is offering an ’emergency loan scheme’ to its customers amid the coronavirus pandemic, the lender, on Sunday, denied any such plans and termed the piece of information as a “rumour”.
In an offcial statement, the country’s largest lender said: “This is regarding the news being widely reported about ‘SBI Emergency Loan scheme via YONO’. We would like to clarify that SBI is not offering any such loan at present. We also urge our customers not to believe on these rumours.”
The reports that were doing rounds, suggested that SBI customers will be able to get “up to Rs 5 lakh as loan within 45 minutes, at an interest rate of 10.5 percent”. The reports also stated that the loans can be availed through the bank’s YONO app, which was also cited as the source of the information.
The statement released by SBI on Sunday, besides denying the reports about loans, also said that the bank will soon introduce a “pre-approved personal loan offering through YONO to provide relief to the salaried customers of SBI who are facing cash-flow problem due to Covid.
“The details of the new product will be communicated to media once it is launched,” the release stated.