Corporation Bank launches festive offers

Corporation Bank launches festive offers

Mangalore Today News Network

Mangalore, September 22: Corporation Bank launched its “Grand Festival Offer” yesterday; and State Minister for Large and Medium Scale Industries Murugesh R. Nirani launched the “Festival Bonanza Offer” in Bangalore in the presence of Chairman and MD of Corporation Bank Ramnath Pradeep, Executive Directors Narendra Singh and Asit Pal, Chief GM Mr. U. B. Bhat, GMs S. M. Swathi and C. G. Pinto, and many other executives and general managers of the bank.

The bank is making several attractive offers on its loan and deposit products, of which one is the Corp Home Smart for home loans and Corp Vehicle Smart for vehicle loans for a limited period of September 21 – Dec 31. The Corp Home Smart scheme offers loans up to Rs. 30 lakhs at the interest of 7.75 percent per annum for the first year and 8.25 percent per annum for the next two years with waived processing charges. The Corp Vehicle Smart Scheme offers vehicle loans at the interest of 8 percent per annum for the first year, with 50 percent of the processing charges waived.

Besides, Corporation Bank is offering a new short-term deposit scheme called “Corp Diamond,” which will be a deposit accepted for 275 days at the rate of interest 7 percent per annum. The minimum deposit amount is Rs. 500 in rural and semi urban branches and Rs. 1000 in urban, port town, and metro branches and should be less than Rs. 5 crore. This offer is for a limited period from September 21, 2010 – Feb 21, 2010. Senior citizens will get an additional rate of interest of 0.5 percent.

The bank also offers Corp Classic, a unique hi-tech hassle free SB account, which combines the liquidity of an SB account with the flexibility of a term deposit. The minimum balance for the Corp Classic account has been reduced from Rs. 25,000 to Rs. 15,000. An account having more than the balance amount will be automatically converted to term deposits of Rs. 1000 each to give maximum returns.