In a bid to expand business in the retail segment, Mangalore-based public-sector lender Corporation Bank said it has set an aim of providing Rs 7,000 crore loan during the ongoing festive season. The lender also said it plans to sanction home loans worth Rs 1000 crore in Delhi and NCR region.
To achieve the target of Rs 7,000 crore loans Corporation Bank has introduced various initiatives for this.
“We are planning a total disbursement of Rs 7,000 crore pan-India, including Rs 1,000 crore in Delhi and NCR region, this festive season,” S M Swathi, General Manager (Delhi Circle), Corporation Bank, said. The bank is offering loans up to Rs 50 lakhs for 30 years at a base rate of 10.5 per cent. It also said there will be no processing fee for loans. The public sector lender is also organizing a loan expos across the county to improve the performance its retail portfolio.
She also said the bank expects to achieve 40-48 per cent growth in retail portfolio, including home and car loans during the year.
With a view to cater to the SME segments the Bank has also launched exclusive SME Loan Centres in 14 cities across the country.
