The Hindu Business Line : Canara Bank's new loan scheme

Canara Bank has launched a retail loan for financing tax return preparers selected by the Ministry of Finance. A bank release said today that the loan scheme, called Canara Guide, was introduced to provide self-employment opportunities to unemployed or partially employed graduates all over the country.

Under the scheme, up to Rs 60,000 would be sanctioned at interest of one per cent below the benchmark prime lending rates of the bank, with a repayment period of 60 months. A margin of 15 per cent would have to be brought in by the borrowers, the release added. The preparers would also be entitled to a six-month repayment holiday.

More Stories on : Credit Market | Public Sector Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Bank of Maharashtra pays dividend

Stock-taking on financial inclusion

NMCC voices concern over rupee appreciation

Re strengthens on dollar weakness

First Leasing net down 6%; pays Rs 2.25 dividend

SC reserves order on Motor Vehicles Act provisions

ICICI Bank follow-on offer subscribed by 3.15 times

PNB can satisfy either shareholders or regulators

Allahabad Bank not planning to expand equity base now

Bonds fall due to surplus liquidity

Return ticket for rural resources

Canara Bank's new loan scheme

Call rates touch new low of 0.2%

GIC Housing plans reverse mortgage foray

KVB unveils triple `S' scheme

Federal Bank opening representative office in UAE