Indian Bank’s festive campaign offers special rates to boost retail loan growth

Customers can benefit from interest rates as low as 6.80% per annum for home loans while new car loans are now available starting at 6.90% per annum for customers with a CIBIL score of over 750.

In a bid to boost retail sector loan growth in the wake of upcoming festive season, Indian Bank on Wednesday announced the commencement of its Utsav Dhamaka campaign. The campaign gives special offers on home loan, vehicle loan and non-priority jewellery loan products for retail customers. The campaign and all offers will be applicable till the end of 2021 across the country.

Highlights of the campaign include relaxation in the rates of interest for home loans, vehicle loans and jewellery loan schemes along with a blanket 100% waiver of processing charges.

Customers can benefit from interest rates as low as 6.80% per annum for home loans while new car loans are now available starting at 6.90% per annum for customers with a CIBIL score of over 750.

For non-priority jewellery loan products, Indian Bank is offering loans for a tenure of up to 35 months at a fixed interest rate of 8% p.a for all categories of customers, including senior citizens. With such attractive lending rates on offer, Indian Bank is aiming to bring more customers under its fold, and provide a significant boost to customer confidence especially in the upcoming festive period, the bank said in a release.

Vikas Kumar, GM, retail assets, said, “Being one of the largest PSU banks in the country, Indian Bank has been at the forefront in implementing measures and schemes intended at reviving the Indian economy since the onset of the Covid-19 pandemic last year. With the upcoming festive season holding promise, we have launched the campaign with the objective of providing capital to retail customers for their consumption needs at attractive interest rates and value add-ons.”