Corporation Bank has introduced special schemes to boost auto loans, in order to make up for the slowing corporate credit off take. It is planning to disburse at least Rs 800 crore during its 15-day bumper car carnival. The special offer comes at an interest rate of 10.4% and with no processing fee. It will sanction a loan within two working days.
The bank has sharpened its focus on its retail loan portfolio. During September 1, 2012, to January 31, 2013, it has built a retail loan portfolio of Rs 3,400 crore from across the country. Out of which, home loans accounted for Rs 1,800 crore and car loans, Rs 900 crore, having a big room for growth in these areas.