With a keen focus on growing the retail loan portfolio, Corporation Bank has launched Grand Festival Bonanza.
During the three-month period beginning September 1, the bank offers loans at ‘special rates’ for the retail segment, including housing and vehicle loans.
At a press conference organised by the bank here on Friday, S. Pattabiraman, General Manager, said the target is to disburse at least Rs 3,000 crore under the scheme. The bank is in the process of teaming up with select builders and automotive dealers to facilitate this. This will also enable the bank to post at least 25 per cent growth in the retail loan portfolio for the whole of 2012-13, over the previous year. He said in the first five months (April-August), the portfolio registered 21 per cent growth.
During the festival period, home loans under the floating rate will get a concession of a minimum of 25 basis points, and vehicle loans 75 basis points. Under other schemes such as Corp Vyapar — targeted at the retailer community and Corp Doctor Plus (for doctors), the reduction will be to the extent of 50 basis points, he explained.