Newkarnataka – Mangalore
Mangalore : The Canara Bank, one of the premiere public sector banks, will be hosting a mega Retail and SME Expo at the Town Hall in Mangalore on November 25. The Expo to be held from 8 am to 7 pm and will be participated by prominent car dealers as well as builders and developers of the city.
Visitors to the Expo will get in-depth details pertaining to customer friendly schemes initiated by the Bank. The Bank will be advancing loans at competitive interest rates. Under its housing loan scheme it will offer loans for purchase of flats, house construction, repair, extension, renovation and for purchase of land for house construction. Similarly, it also offers loans for purchase of new cars, two-wheelers and also for purchase of old cars which are not more than five years old.
On the spot loan facility will also be available at the Expo on behalf of the Bank. Moreover public also will have a golden opportunity to make the best choices of home or vehicles that suit their budget, thanks to the participation of a number of builders as well as vehicle dealers.
The Canara Bank has fixed 9.95 per cent interest for housing loans and the Estimated Monthly Instalment will be Rs 874 per every lakh. Vehicle loans will be available at 10.70 per cent interest while the EMI in this case will be Rs 1984 per lakh. For purchase of new vehicles, Canara Bank will offer as loan 90 per cent of the cost of vehicle while in case of second hand car, 75 per cent of the cost of the vehicle will be given as loan.
SME Mela : As part of SME Mela, the Bank will offer information to small and medium entrepreneurs. Canara Bank has considered the MSME Sector as its priority sector and is offering loans at attractive interest rate to this sector. Several people who have availed loans under MSME Loan Scheme of the Bank have now become successful entrepreneurs. The Bank has also announced special offers for MSE loans upto Rs one crore. Full details about this scheme will be available to customers at the Expo, a press communiqué from the Bank, said.