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Syndicate Bank has launched a ‘Mega Gold Loan' campaign across all its branches in Anantapur, Kurnool and Kadapa districts.
“The campaign, coinciding with crop loan season, is expected to serve the farming community and supplement the need of crop finance,'' Syndicate Bank said in a release.
Under the scheme, Rs 1,900 per gram of gold of 75 per cent of net value of told would be given as loan if the tenure of is less than 12 months.
For loans with a tenure of 12-24 months, Rs 800 per gram or 75 per cent of net value will be offered at 11.75 per cent interest.
The main aim of the campaign is to mobilise an incremental business of Rs 100 crore under the jewel loan portfolio by September 30, 2012, the release added.
nagsridhu@thehindu.co.in
“The campaign, coinciding with crop loan season, is expected to serve the farming community and supplement the need of crop finance,'' Syndicate Bank said in a release.
Under the scheme, Rs 1,900 per gram of gold of 75 per cent of net value of told would be given as loan if the tenure of is less than 12 months.
For loans with a tenure of 12-24 months, Rs 800 per gram or 75 per cent of net value will be offered at 11.75 per cent interest.
The main aim of the campaign is to mobilise an incremental business of Rs 100 crore under the jewel loan portfolio by September 30, 2012, the release added.
nagsridhu@thehindu.co.in
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