Visakhapatnam, October 27, 2007
Spot Loan approvals to be given in the three day mela
The State Bank of India (SBI) is holding a three-day mega loan mela at YMCA grounds on the RK Beach Road to provide in principle on the spot approvals on loans to buy houses, house sites, cars, two wheelers for transport operators, for agriculturists to buy tractors and 'express credit' personal loans for salaried class and others. The mela will be open from 9 AM to 9 PM from Saturday to Monday.
The SBI DGM SK Chaudhuri inaugurated the programme on Saturday and said that as part of fifth year of annual utsav, the bank would provide concession up to 1.25 percent in interest rates on housing loans and one percent on auto and personal loans and 1 to 2 percent concession for transport operators and on agricultural loans. He added that the margin money payable by the borrowers was reduced by five percent and the processing fee is cut to 50 percent subject to a maximum of Rs.5,000.
Those interested to avail the loan could visit the mela stall with two passport size photographs, identity proof, latest salary slip, Income Tax returns, residence proof and the bank statement for the last six months. Top officials of the Visakhapatnam Zonal office, SBI officers Association Deputy General secretary SN Sahu and SBI staff union Assistant General Secretary, N Samba Siva Rao were present on the occasion.
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