The Hindu Business Line : Andhra Bank, Kirtilal tie-up

HYDERABAD: Expanding its retail credit portfolio, Andhra Bank has tied-up with Kirtilal Kalidas & Company, a leading jewellers to extend loans for the purchase of jewellery.

Announcing this here, the bank Chairman and Managing Director, Mr T.S. Narayanasami, said under the alliance the bank would offer loans at its prime lending rate of 10.5 per cent as against the normal rate of 11 per cent.

Mr Narayanasami unveiled the scheme titled `Swarnapurnam' along with the South Indian cine star, Ms Jyothika, here on Monday. The bank would finance up to 85 per cent of the cost of the gold and gold ornaments and the balance 15 per cent has to be paid by the customer.

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