UBI offers special packages for Mizoram

Aizawl, Sep 11 (UNI) Leading nationalised bank United Bank of India (UBI) extended a special package of loan schemes for their new customers in Mizoram at a low interest rate with relaxed terms and conditions.

The announcement came soon after it opened its 1319th and maiden branch in the state capital here.

The offer, especially for the government employees, includes construction and purchase of houses as well as take over of housing loan availed from other banks or financial institutions, purchase of new or maximum four years old cars, durable items- computer, two wheelers and personal loans.

According to the package, the loan amount would maximum 75 times of the basic pay of the employee and the rate of interest will vary in between 9 per cent and 11.25 per cent, apart from primary mortgage.

Talking to UNI, UBI chairman-cum-managing director P K Gupta said, as part of it's business UBI would give priority for financing agriculture and allied sector as well as extending support to the Self-help Groups (SHG) of NE states.

The bank has identified fruit processing, flouriculture and ginger processing, as vibrant sectors for sanctioning loan to the enterpreneurs of Mizoram, he informed.

Mr Gupta said, the bank has also initiating the study of socio-economic status of the state for augmenting further investment.

He, however, stated that non-performing asset burden of UBI in NE states is comparatively lower than other states, which encouraged them to go for maximum investment.

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