The public sector lender, Corporation Bank, is advancing loans to women entrepreneurs, who fall under the Small and Medium Enterprises (SME) segment, at lower rates of interest. It is offering about 0.75 percent rebate on interest rates for such loans, as part of its ‘Grand Festival Loan Bonanza'.
On the matter, the Chairman and Managing Director of Corporation bank, Mr. Ajai Kumar said in a press release that the ongoing festival, the ‘SME grand festival loan bonanza' has been launched especially for the SME customers.
As part of the bonanza, the Mangalore based bank will advance loans to SME customers with a concession of 0.50 percent on the existing rates of all SME loan products. In addition to this, female entrepreneurs will be provided an additional rebate of 0.25 percent.
The bank issued a statement which added that it will provide about 50 percent rebate on processing charges on such loans.