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Bangalore, June 21

Syndicate Bank has launched a small credit scheme tied to its Pygmy Plus 2007 branded deposit product. The loan product offers financial assistance up to Rs 1.5 lakh to customers of small means, including redemption of high-cost debt, a bank release said. It added that the scheme called `SyndsmallCredit' provides flexibility to customers where they can contribute varied amounts at their doorstep to the Pigmy Plus 2007 account. These could ultimately be appropriated towards the loan account. The product also offers a three-month repayment holiday in addition to a stepped-up repayment option, the release added.

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