Corp Bank scheme aims to boost retail credit

Mangalore-headquartered public sector lender Corporation Bank has launched a ‘festival bonanza offer’ which includes home loans and vehicle loans at floating rates in the initial years along with an offer of higher deposit rates for savings with the bank.

Corporation Bank hopes to disburse home loans of about Rs 1,000 crore and vehicle loans of about Rs 300 crore through this four-month-long festival bonanza scheme.

The Bank is expecting about Rs 800-Rs 1,000 crore from housing loans, and Rs 200-Rs 300 crore from vehicle loans in the four months.