Vijaya Bank hopes to reach its target in housing loan portfolio during the current financial year. This is despite the nationalised bank hiking the interest rates.
The fact that it is a nationalised bank is itself a reason for this confidence as it serves as an advantage over private banks.
Speaking to Business Standard today, bank’s Assistant General Manager K Jayarama Shetty said, as a nationalised bank it offers the advantages of transparency to borrowers and there would be no hidden costs. Hence, borrowers can confidently avail of loans.
“We have already disbursed over Rs 120 crore to 3,300 loan accounts as on March, 2011,” he said.
Setting an ambitious target of extending another Rs 50 crore, the bank has organised a day-long housing loan mela on July 10 at the Institution of Engineers, Mysore. “The region is having an ambitious plan of to disburse at least Rs 50 crore during fiscal 2011-12. Organised for the first time, it will be an innovative mela made more attractive,” Shetty, who is also the bank’s regional head said, adding “We will be organising more such melas in the coming weeks.”
Designated Marketing Officer S R Chandrashekar added the loan tenure would be for tenures from five years to 20 years and with the rate of interest starting from 10.75 per cent.
“Being a front-runner among the nationalised banks in housing loan portfolio with liberaliaed schemes, the bank will offer a variety of options in the said portfolio under a single shelter at the venue,” Shetty said.
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The Mysore Regional Office covers Mysore, Chamarajanagar and Mandya districts with 63 offices including 59 branches with a total staff strength of 435.
Mysore is one among the 22 regions.