In a bid to boost lending growth to the retail sector following the upcoming holiday season, Indian Bank on Wednesday announced the start of its Utsav Dhamaka campaign. The campaign has special offers on non-priority mortgage, vehicle and jewelry lending products for retail customers. The campaign and all offers will be applicable until the end of 2021 across the country.
Highlights of the campaign include easing interest rates for home loans, auto loans and jewelry loan programs, as well as a 100% general waiver of processing fees.
Customers can benefit from interest rates as low as 6.80% per annum for home loans while new car loans are now available starting at 6.90% per annum for clients with a CIBIL score above 750 .
For non-priority jewelry loan products, Indian Bank offers loans for up to 35 months at a fixed interest rate of 8% per annum for all categories of customers, including the elderly. With such attractive loan rates, Indian Bank aims to attract more customers under its fold and significantly boost customer confidence, especially during the upcoming holiday season, the bank said in a statement.
Vikas Kumar, Managing Director of Retail Assets, said, âBeing one of the largest PSU banks in the country, Indian Bank has been at the forefront of implementing measures and programs aimed at revive the Indian economy since the start of the latest Covid-19 pandemic. year. With the promise of the holiday season ahead, we have launched the campaign with the aim of providing capital to retail clients for their consumer needs at attractive interest rates and added value.