To increase its vehicle loan portfolio and current account deposits, Corporation Bank has launched three new products.
Addressing presspersons at the launch of these products in Mangalore on Friday, Ajai Kumar, Chairman and Managing Director of the bank, said that ‘Bumper Car Carnival’ is a 15-day limited period offer for financing new four wheelers to the customers.
He claimed that the interest rate offered is the lowest at 10.40 per cent for a period up to 7 years. Processing charges are fully waived under the scheme, which will be in force from March 1-15.
Kumar said that the bank has come out with a special current account for exporters and importers -- ‘Corp Global Current Account’. This facility is designed for the forex clients who do not enjoy any credit limits. If a customer has quarterly average balance (QAB) of Rs 2.5 lakh under this scheme, the bank will not charge for forex transactions up to $ 50,000.
The bank also launched two new current account products ‘Corp Privilege’ and ‘Corp Club’. He said that corporate customers are targeted with these products.