With the focus on women clientele, Bangalore based lender, Canara Bank is planning to open 10 all-women employee branches across the country.
According to Mr. R K Dubey, Chairman and Managing Director of Canara bank, processing charges for vehicle loansand home loans for women will be waived from March 1, 2013 to March 31, 2015.
The bank has also waived off promoter's contribution and providing 100 per cent finance for micro and small projects up to Rs 1 lakh for empowerment of women.
"We also plan to waive processing charges and upfront fee for loan up to Rs 5 lakh under micro and small projects. Also we have reduced the interest on loans to women up to Rs 5 lakh to base rate of interest i.e. 10.25 per cent at present," said Mr. Dubey.
To encourage entrepreneurship and reward successful women entrepreneurs, Mr. Dubey said that the bank is launching ‘annual award scheme' for successful women entrepreneurs financed by the bank with three cash awards of Rs 25,000, Rs 50,000 and Rs 1 lakh.