In the era of the Corona virus Crisis, if you need money then there is no need to worry. There are some ways by which you can arrange money.
In the era of the Corona virus Crisis, everyone is facing financial loss. Somewhere people are being fired, and somewhere their salary is being cut. People's income has been lost due to the closure of companies. The corona lockdown has caused a financial beating on people. People have reduced their expenses. But there are some expenses that cannot be stopped. To give relief to the people in the Corona crisis, the government has extended the deadline for loans, insurance, investment, income tax returns etc. Still, if you need money then there is no need to worry. There are some ways by which you can arrange money.
Can take gold loan
Gold in every house in India (Gold0 is definitely there. If there is a problem of money in the Corona period, then you can take a gold loan. When you are able to start a job again or the money is over, you can get a gold loan. You can get your gold back by paying money.
Can withdraw money from PF
The Modi government has given permission to the people to withdraw money from the Provident Fund (PF) during the Corona period. If you have a money crisis then you can withdraw money from the PF account. Under Covid-19, you can withdraw up to 75 percent money from a PF account.
Consider taking a personal loan
Many big banks are currently offering Kovid-19 personal loans at a very low interest rate. Covid-19 personal loans are being provided by SBI, Bank of Baroda, Punjab National Bank, Indian Bank, and Union Bank of India, Maharashtra Bank and Bank of India. These loans are being offered to overcome the Corona crisis. Its first feature is that the interest is less on it than a common personal loan. Generally, banks charge interest rates ranging from 8.75 per cent to 25 per cent on personal loans. But the interest rate on covid personal loan is between 7.20 percent to 10.25 percent.
Overdraft on FD
If you have a need for money, then you can take an overdraft on your fixed deposit (FD). The country's largest bank SBI offers this facility to its customers. According to the BI website, customers with personal accounts, whose FD is in personal name, can apply for it online. The customer with a joint account will get this facility in the branch itself.
Loan on Insurance Policy
In addition to the return on maturity in an insurance policy, policyholders get a loan contract in lieu of an insurance policy. If you already have an insurance policy, then you can get it in lieu. The application for this is easy and can be found soon.
