SUCO Bank’s new loan product aims at providing 100 percent financial assistance to students to buy laptops at an interest rate of 14 percent, said Parimalacharya S. Agnihotri, Managing Director at SUCO Bank.
The product has been conceived so that even daily repayment of loan is possible. “Customers can avail daily, weekly and monthly repayment facilities”, explained the MD Agnihotri.
In these changing times, education is going online. The new loan scheme will help in bridging the technological gap for students as this will offer affordable laptops and headphones with mike as a package, says the MD
The laptops would be specifically configured to meet the needs of the students, says a press release from the UCB.
Nick-named SUCO Vidya Setu loan, it is aimed at providing an equal platform for all students irrespective of the financial background they come from, said the Managing Director.
Parimalacharya S. Agnihotri, Managing Director at SUCO Bank adds that to reach the maximum beneficiaries of this product, the bank aims at providing flexible repayment instalment options, ranging from daily and weekly instalments to have a fixed tenure of 6 months and monthly EMI plan can be availed at a variable duration between 6 to 24 months.
Recently SUCO bank was in news when it mooted the idea of alternate locations for daily operations of all branches and work from home or alternate locations for staff as preparation for any emergency situation arising due to the spread of COVID-19.
The UCB has, meanwhile, remains in constant touch with its customers, providing all updates regarding alternate arrangements. The UCB has a Quick Response Team in place at Head Office to monitor and stand-by for any contingency plans if any visiting customers or bank staff is infected by COVID-19.
SUCO bank’s all branches remain alerted to mandatorily screen every customer for fever and other symptoms and sanitizers have been made available at all ATMs. SUCO bank’s management has decided to provide seamless essential banking services under any situation, claims the press release.