Wednesday, Dec 15, 2004
Wednesday, Dec 15, 2004 |
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By Our Staff Correspondent
DAVANGERE, DEC. 14. The Canara Bank here will observe "Personal loan month" under Canbudget scheme to salaried persons from Wednesday. The bank will offer loans under 10.75 per cent interest a year under the scheme. P. Nagaraj, chief manager of the bank, in a press release issued here on Tuesday, said that personal loans from a minimum of Rs.10,000 to a maximum of Rs. 1 lakh would be given to employees depending upon their repaying capacities and gross salary. Regular employees working in public sector undertakings, joint stock companies, corporate and private limited companies and organisations, and lecturers and professors, were eligible for the loans, he said. Mr. Nagaraj said that the bank would not charge processing, administration, or documentation charges. The applications would be processed and payments would be made in a day or two. The applicants have variety of options, including easy monthly instalments ranging from 12 months to 60 months, and no guarantor or co-obligant was required for those seeking loans below Rs. 50,000, he stated.
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