New Delhi : Due to coronavirus, lockdown has been implemented for the last 2-3 months. All sectors are closed. Many people have become unemployed. Poor, daily laborers, needy people have no money left to eat. Many people are upset in this situation. According to the report, 10-50 percent salaries of the workers working in the companies have been deducted. Many such people are now suffering the shortage of money.
This is how you can manage –
The Modi government has allowed people to withdraw money from the Provident Fund (PF) in the Corona era. If you have a money crisis then you can withdraw money from the PF account. During COVID-19 crisis, you can withdraw up to 75% of money from a PF account.
Loans on Insurance Policy –
In addition to the return on maturity in an insurance policy, policyholders get loan facility in lieu of an insurance policy. The application for this is easy and can be found quickly.
You can take a gold loan –
If there is a problem with money in Corona, then you can take a gold loan. When you are able to start a job again or the money problem ends, you can get your gold back by paying the gold loan money.
Consider taking a personal loan –
Many big banks are currently offering COVID-19 personal loans at very low interest rates. COVID-19 personal loans are being provided by SBI, Bank of Baroda, Punjab National Bank, Indian Bank, Union Bank of India, Maharashtra Bank and Bank of India. 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% to 10.25%.
Overdraft on FD –
If you are in need of money then you can take an overdraft on your fixed deposit. SBI provides this facility to its customers. According to the SBI 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.