Mangaluru: South Canara District Central Co-operative Bank has undertaken a special deposit and loan disbursement drive from Navaratri to Deepavali festival, said M. N. Rajendra Kumar.
Speaking at a press conference at the bank’s headquarters on the first day of Navratri on Monday September 26, Dr. MNR said, the interest rate of 6.50 per cent for deposits above a period of one year and up to 2 years and above 3 years up to 5 years, the deposits above Rs. 25 lakh will attract an interest rate of 8 per cent. For corporate deposits the interest rate will be 7.50 per cent, he added.
The bank has always encouraged senior citizens. This time, an additional interest rate of 0.50 will be offered on deposits of senior citizens, soldiers and women. An additional interest rate of 0.25 per cent will be offered on deposits above Rs. 10 lakh held by senior citizens. He also explained that it is limited to a special deposit campaign only. Banks are giving loans for gold jewellery mortgaged by people in times of distress and the interest rate has been lower than that. The bank is providing loans up to 90 per cent of the total value of the gold jewellery. The bank is offering home loans at an attractive interest rate to those who want a house of their own. A home loan of up to a maximum of Rs 75 lakh can be availed, added Dr. MNR.
“The bank provides insurance facility to the crop borrower members of primary agricultural credit co-operative societies in Dakshina Kannada and Udupi Districts where the bank has jurisdiction on the loans availed by them. In case of death of farmers who have taken short-term loans up to Rs
3 lakh and medium-term loans up to Rs. 10 lakh in case of any eventuality, the loan amount will be covered through insurance,” he said.
“The bank has come to the aid of farmers during the global pandemic of Covid. The xompensation of Rs 1.52 Crore has been sanctioned to the families of 174 farmers who died in Covid,” he said.
Bank Vice-President Vinay Kumar Soorinje, Director T. G. Rajaram Bhat, Bhaskara S. Kotian, M. Vadiraja Shetty, S. Raju Poojary, Shashi Kumar Rai Balyottu, Aikalabava Deviprasad Shetty, K. Harishchandra, M. Mahesh Hegde, B. Ashok Kumar Shetty, Monappa Shetty Ekkar, K. Jairaj B. Rai, Rajesh Rao, Chief Executive Officer Gopal Krishna Bhat, and Lakshminarayana, Deputy Director of Co-operative Societies were present.
