Property Fair And Car Loan Mela

State Bank of India will hold a property fair and car loan mela here from September 26 to 28. S. Venkatraman, Assistant General Manager of the bank, P.S. Venkatachalam, its Chief Manager, and Jeyanthi, the home loan team head, told presspersons here on Friday that 30 builders and four car dealers would participate in the fair. Each participant in the construction sector was expected to display one or two projects. Eligible applicants at the three-day fair would get 0.25 per cent reduction in interest rate, concession in processing charges and on the spot in-principle sanction.

During the last financial year, the bank sanctioned loans to the tune of Rs. 192 crore in the property sector and planned to double it this year. With the hike in interest rates and building costs, the impact was gradually felt in the sector in the recent months. The bank would offer a “double bonanza offer” for car loans. The interest rate would be 0.25 per cent less and the customers would get concession in processing charges. Entertainment events were planned in the evenings during the fair. It proposed to organise a similar event in Tirupur. The bank had 31 branches in the region and more than 33 ATMs in the city. The fair will be held at Suguna Kalyana Mandapam.

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