NEWS & ADVICE : CAR LOANS
Central Bank of India plans to achieve business of Rs.10, 000 cr in home loans segment
By Vaibhav Aggarwal
Nov 5, 2012
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The Mumbai based Central Bank of India, has announced that it plans to do business worth Rs.10, 000 crore in the housing loans segment, for the current financial year.

Announcing the same, Chairman and Managing Director of the bank, Mr. Mohan V Tanksale said, "At the end of the September quarter, our home loan portfolio stood at Rs 6,800 crore, and by March, we are targeting to add Rs 4,000 crore or so. The target is to cross the Rs 10,000-crore-mark this fiscal."

After the grand success of "Swapna Sankul 2012", a realty expo organized by the bank, Tanksale said that the bank plans to hold such expos in another 100 cities by the end of this year. Reportedly, the bank did a business of Rs. 174.24 crore at the expo, receiving about 525 loan applications.

In addition to home loans, the bank also plans to target auto loans book by providing a rebate on auto loans interest rates for applicants who are already the bank's home loan customers. On the matter, Tanksale said, "Looking at the success of the Mumbai expo, we will hold similar expos and trade exhibitions in association with industry partners in the auto loan segment as well. However, home loans will remain our prime focus."


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