It
is a retail loan mela now, not like the one in the ’80s associated with the
then junior finance minister Mr. Janardhana Poojary that nearly sank the
system, but a voluntary drive by managements to compensate for sliding demand
for funds from corporates.
The
Kolkata - based lender UCO Bank, ‘No processing charges on housing loan if
availed with car loan.’ There are standalone offers too: ‘50 per cent off on
processing charge on housing loans… 100 per cent off on processing charges on
car loans.’
Mr.
Arun Kaul, Chairman and Managing Director, UCO Bank said, “We have noticed that
a segment of customers prefers to take housing loan & car loans together.
We have lined up the combo scheme for them.”
UCO
Bank is not alone in pushing retail
loans aggressively, which has hitherto been the forte of private sector lenders
such as HDFC Bank & ICICI Bank. State Bank of India (SBI) and its
associates, Union Bank of India & United Bank of India are among the
leaders in the retail push.
Mr.
Pratip Chaudhuri, chairman, SBI. said, “The corporate pipeline is pretty weak
for term loans and so, we are trying to increase our coverage in the retail
space.No matter what the interest rate for the corporate sector is, there is
hardly any demand for term loans.”
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