Bangalore-based public sector lender Canara Bank has introduced a new retail loan scheme, which provides for purchase of consumer durables such as LED Flat Screen TV, Microwave Oven, Sofa set & many other articles a customer aspires for.
Up to Rs. 1 lakh..!
This loan scheme is available to both salaried and non-salaried individuals for a sum up to Rs. 1 lakh with a repayment period up to 36 months (3 year). Hypothecation of the durables will be taken as security against the loan amount.
Under the scheme, Canara Banl is offering 14.5 per cent rate of interest & no processing fee is charged till January 31, 2013.
This loan scheme is available in all 3,600 branches of the bank. The bank has also made a provision for second loan under this scheme, even before closure of the first loan. Through the Internet banking facility the customer can check the loan liability details during the tenure of the loan..
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