SBI to offer low interest rates in loan melas

Indore, July 20 (UNI) The State bank of India will offer 0.50 per cent relaxation in the interest rates on home loans and vehicle loans during the monsoon loan melas to be organised in different cities of Madhya Pradesh and Chhattisgarh.

On the sidelines of inaugurating one such three-day loan festival here today, Mrs Renu Chullu, SBI's Chief General Manager, told mediapersons the customers will be given 0.50 per cent relaxation in home loans and vehicle loans. Five per cent discount will also be given in margin money, besides charging 50 per cent less processing fees, she added.

In both states, Mrs Chullu said, the bank expected to disburse Rs 300 crore of loan amount during the loan melas. Of this, Rs 100 crore was likely to be distributed in Indore only.

After the successful launch of its online share trading facility, easy trade, in Indore, the same would be launched in Bhopal next week.

UNI