M. Kunasekaran (second left), Regional Manager, State Bank of India,
Regional Business Office 3, Zone II, handing over the car key to a
person who availed of vehicle loan at the two-day special loan mela
organised in Krishnagiri on Saturday.
Vellore Region, with branches in Tiruvannamalai and
Krishnagiri districts, has planned to achieve business for Rs. 100 crore
this financial year(2012-2013), said M. Kunasekaran, Regional Manager,
State Bank of India, Regional Business Office 3, Zone II, Chennai.
Speaking
on the sidelines of the inauguration of a two-day special home and
vehicle loan mela on Saturday, Mr. Kunasekaran said that 15 branches in
Krishnagiri district, which were earlier with the Salem Region, have
been recently merged with the Vellore Region.
Of the
targeted business of Rs. 100-crore this fiscal, the region has achieved
40 to 45 per cent and the rest will be achieved before the end of March
2013, he said. Keeping this in view, the bank has organised special loan
melas in different towns in the region to attract more customers by
offering low rate of interest for home loans as well as vehicle loans.
Next
to Krishnagiri, a big mela would be organised at the Mookandapalli
branch in Hosur very soon. The bank expects a business of over Rs.
20-crore from these two melas.
In Tiruvannamalai
district, the melas would be organised in Tiruvannamalai town and Arani
and targets to achieve Rs. 15-crore business.
N.
Arumugam, Chief Manager, SBI main branch, said that the bank is
offering home loans at a rate of 10 per cent upto Rs. 30 lakh. The rate
of interest would be 10.15 per cent beyond 30 years term of repayment.
Similarly, the rate of interest for vehicle loan would be 10.5 per cent
and the maximum repaying term that could be availed of by the customer
was 84 months (7 years).
Customers can avail of loan up to 85 per cent of the on road rate of the vehicle.
Mr.
Arumugam said that as many as 40 home loans to the tune of Rs. 3.5
crore and 29 vehicle loans to the tune of Rs. 1.5 crore were sanctioned
at the mela.
