The Hindu Business Line : Now, SBI sings <I>Aadi </I>tune

To be conducted simultaneously at eight different places in the district, it appears to be an Adiradi (irresistible) offer, with the bank proposing a reduction in the normal interest rate by 0.25 percentage point and waiver of the processing charge on loans considered eligible for sanction.

The special offer, however, bank sources say, would be available only at the venue of the loan mela and on the dates specified.

Until now, only traders have tried to tempt the public by offering special discounts during the Tamil month of Aadi, as it is generally considered an inauspicious month for weddings, leading to dull sales.

With SBI taking a lead by announcing the `Special Loan Campaign', more banks are expected to follow.

According to Mr R. Kalyanakrishnan, Deputy General Manager, SBI (Zonal Office), Coimbatore, the special `Aadi Adiradi Offer' is aimed at extending financial assistance to the needy.

"It is not just a personal loan campaign. We will be offering the loan at the discounted rate for housing, car, mortgage, education, agricultural and trade finance too, but only at the venue and the offer is open only for three days. Most people try to take advantage of such offers by buying at the discounted rate and we, at SBI, have pitched in," he said.

More Stories on : Public Sector Banks | Promotions & Offers | Tamil Nadu | Credit Market

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