Money & Banking

Andhra Bank okays Rs 50 cr spot loans in property show

Our Bureau Hyderabad | Updated on October 12, 2014 Published on October 12, 2014

Andhra Bank has sanctioned Rs 50 crore spot loans to over 250 prospective home and vehicle buyers in its mega property show which concluded here on Sunday.

``In addition, we have got business leads for over Rs 200 crore during the two-day event,’’ G Ravi Kumar, General Manager, Andhra Bank, Hyderabad zone told Business Line here.

The number of visitors as well as business exceeded expectations of bank officials. The bank expected about 5,000 visitors while 10,000 visited the expo. Similarly, it was expecting to get a total business of Rs 100 crore but now, it could be over Rs 250 crore including the leads generated.

Over 30 builders and all major four-wheeler dealers participated in the event and customers were offered many concessions including waiver of the processing charges. It was organised as part of bank’s focus on retail lending.

Published on October 12, 2014
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