In the current situation, the urban cooperative banks of the country are engaged in wooing their customers by launching various loan schemes. UCBs are reducing the interest rates as well as offering loans with zero processing fees.
The news related to this keeps pouring in on the desk of Indian Cooperative. Gujarat largest Urban Cooperative Bank- Kalupur Commercial Cooperative Bank has recently launched “Working Capital Demand Loan” facility.
Sharing the details with Indian Cooperative through WhatsApp, the Bank CEO Vinod G Dadlani wrote, ” We have started a special Working Capital Demand Loan facility at 0.50% lower rate of interest compared to the existing rate of interest applicable to meet stretched working capital cycle of the borrowers”.
“This WCDL offering is ranging from 10% to maximum 20% of existing total facilities and will be given for 12 months subject to repayment in 6 equal instalments after 12 months with “0” processing fees”, its message further reads.
Besides, the bank also reduced the rate of interest on advances up to 0.50% to give relief to borrowers. Kalupur bank has also launched a special scheme for priority sector/MSME.
Earlier, the bank has launched the song paying tributes to corona warriors who are at the forefront fighting the novel coronavirus.
