Canara Bank today introduced a retail loan scheme for salaried and non-salaried individuals for purchase of consumer durables.
Under the scheme, customers can avail loans up to Rs one lakh at 14.50 per cent interest and repayable in 36 instalments, the bank said in a statement here.
The bank would hypothecate the durables purchased under the scheme as security and would not charge processing fees till January 31.
It said there would be no prepayment or hidden charges for loans.