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Monday, November 24, 2014

Corporation Bank targets Rs. 6,000 cr from retail lending this fiscal

Corporation Bank (Chennai Circle) is targeting to achieve Rs. 6,000 crore from retail lending this fiscal.

The circle has achieved Rs. 4,700 crore till mid-November and is hopeful of reaching Rs. 5,200 crore by end-December, the bank's General Manager (Chennai Circle), U Vasanth Kini, told BusinessLine.

Coimbatore zone (comprising nine districts) in Chennai circle is said to top in retail lending.

Kini was in the city at the sixth edition of the bank's home loan expo now underway at Suguna Kalyana Mandapam.

Speaking on the sidelines of this expo, he said: “The focus is now on the high-end premium segment, existing borrowers, professionals and two-income families, where the risk element is minimal. The recovery from retail lending has also been quite satisfactory.”

Home loans

At this two-day event (which comes to an end this evening), the bank is offering home loans at 10.25 per cent for loans up to Rs. 2 crore and at 10.5 per cent for loans above Rs. 2 crore, notwithstanding the waiver on processing charges.

Car loans can be availed at 10.65 per cent for financial assistance of Rs. 50 lakh with 50 per cent waiver on processing fee.

Builders and project promoters have also come up with offers like cash discount of up to Rs. 10 lakh, gold coin, modular kitchen and home automation on spot booking.

Over 40 builders have put up stalls at this expo.

Source : Thehindubusinessline


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