Bengaluru: Indian Bank intends to organise mega loan mela from September 25 to cater to the retail, small and medium industries in Karnataka.

Speaking to media persons here on Friday, Sudhir Ghaie, Deputy General Manager, Indian Bank said the bank plans to disburse Rs 100 crore worth loans during the mega mela. “The mela has already begun at other branches of Indian Bank in the state in September. We have postponed it to September 25 due to the political and law and order situation in Bengaluru,” Sudhir Ghaie said.

He said the Indian Bank offers vehicle loan for customers at 9.95 per cent interest rate. “There will be no processing fee during the festival season up to December 31,” he said.

Ghaie said Indian Bank has also arranged takeover of loans from other banks and financial institutions. “To avail spot sanctions, the applicants should carry an identity proof, PAN card, address proof, bank statement (last six months), last three months salary slip (salaried employee) and IT returns of the last three years (self-employed and business people),” he said.

He said that Indian Bank plans to open three branches in Bengaluru zone.