Canara Bank launches 'Canara Guide'

Bangalore, June 20 (UNI) Canara Bank today announced the launch of a new retail loan scheme called 'Canara Guide' to finance Tax Return Preparers (TRPs) selected by Union Ministry of Finance.

TRP was a novel scheme introduced by the Centre recently to provide self-employment opportunities to unemployed or partially employed graduates all over the country, a bank release here said.

Under the scheme, upto Rs 60,000 would be sanctioned at an interest rate of one per cent less than the Benchmark Prime Lending Rate of the Bank which is at present 12.25 per cent. The loan was returnable within 60 months.

The applicants must pay 15 per cent margin money and a six months holiday was allowed for repayment, the release added.

UNI