Corporation Bank offers 50 bps concession to SMEs

The bank is also offering additional interest rate concession of 25 bps for women entrepreneurs and 50 bps on processing charges

Mangalore-based public sector lender Corporation Bank on Wednesday launched a festival loan bonanza for SMEs with retrospective effect from October 20, 2012, for a limited period. During this period, the bank is offering interest rate concession of 50 basis points on the applicable rates on all the SME credit schemes.

The bank is also offering additional interest rate concession of 25 basis points for women entrepreneurs and 50 basis points concession on processing charges.

The festival bonanza is offered on ten SME credit schemes offered by the Bank. To encourage entrepreneurs, the bank has launched various specialised and tailor-made credit schemes such as Corp SME Tex Plus Scheme, Corp Term Plus Scheme, Corp SME Auto Plus Scheme, Corp SME Liquid Plus Scheme, Corp SME Gold Card Scheme among others.

In order to cater to the SME segment in a big way, the bank has opened exclusive SME Loan Centres in 14 cities across the country. They are located at Delhi, Hyderabad, Bangalore, Chennai, Coimbatore, Pune, Mumbai, Vadodara, Kolkata, Mangalore, Ludhiana, Chandigarh, Ahmedabad and Kochi.