Mangalore Catholic Cooperative Bank on the occasion of its centenary celebrations offered vehicles to poor on low interest rate and on a huge subsidy. The bank could do it due to the philanthropy of Mr Ronaldo Colaco who offered Rs 10 lakhs to the bank.
Bank has offered loan at 2 per cent less than the market rate. Anybody who is a BPL card holder can avail this facility in which he has just to deposit 10% of vehicle’s cost.
In another attractive scheme Mangalore Catholic Cooperative Bank decided to offer 10 % interest rate on the deposits. The scheme is valid for 3 months.
Oscar Fernandes inaugurated the centenary celebrations and was eager to lend all help should Bank want to be a scheduled one.