Financial Daily from THE HINDU group of publications
Friday, Jan 23, 2004
Financial Daily from THE HINDU group of publications Friday, Jan 23, 2004 |
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Money & Banking
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Credit Market IOB to organise credit mela in Vizag Our Bureau
VISAKHAPATNAM: Indian Overseas Bank (IOB) is organising a trade credit mela here on Saturday and Sunday at Lions Community Hall, Ramnagar, to facilitate fast credit to the trade at concessional rates of interest. According to the bank authorities, IOB will offer services such as free processing, free visa card and free ATM card. The bank will also take over existing loans of the traders from other banks at minimum rates. The rates will be at 11 per cent per annum for loans up to Rs 2 lakh, while 11.5 per cent for loans in the Rs 2-25 lakh range. In the Rs. 25-50 lakh range, the rate will be 11.75 per cent. For loans above Rs 50 lakh and up to Rs 1 crore, interest rate will be 12.25 per cent. The bank had recently organised a housing loan mela here and, enthused by the response, the IOB had taken up the trade credit mela, said the bank authorities.
More Stories on : Credit Market | Andhra Pradesh
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