Allahabad Bank To Open 60 More Branches In The Next Two Months (02-Sep-2010)
In a move to enhance its presence across the country, government-owned lender, Allahabad Bank is planning to open 60 more branches in the next two months, which will take the count to about 2,380 by October. Further, it will also be setting up 180 ATMs in the next six months.
The banking major, on account of festival offers on retail loans, is also offering an interest concession of up to 1% on housing loans up to December 31 this year to the borrowers. This offer will encourage customers, especially from middle and lower income groups, to avail credit at reduced interest rates to fulfill their requirements during the festival season.
As per this offer, housing loans up to Rs 50 lakh at a floating rate (without concession) are available at 10.25% interest for a period of 15 years, while fixed rate loans of the same maturity and amount are available at 12.5%. Also, interest rate on car loans for new vehicles has been reduced by 1%. Going forward, saral loan scheme, personal loans for doctors and pensioners and housing loans for furnishing will also get a rebate of 1%.
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