Cuts lending rates of loan products made available
across 198 branches in 11 Indian states
Mumbai, 08th January 2021 (GPN): SVC Bank (SVC Co-operative Bank Ltd.), one of India’s leading co-operative banks, today announced its third edition of SVC Loan Utsav. Following the success of the earlier two editions, the 2021 SVC Loan Utsav titled Fantastic 2021 leverages on the insight that Indians are increasingly looking at 2021 as a year of fulfillment as they ride over the tough conditions in 2020. To match this sentiment, SVC Bank has cut lending rates and made a host of loan products available with faster processing and quicker disbursements. The Bank has rolled out entire bouquet of retail loan products including Home Loan, Vehicle Loan, Loan Against Property, Doctors’ Loan and Gold Loan at never before rates. The offers will be available across all the 198 branches of the Bank in 11 states till 31st January 2021.
| Products | Revised ROI during Offer Period |
| Housing Loan | 7.00% p.a. onwards |
| Loan against Property/ Mortgage Loan/ Office property purchase Loan | 8.75 % p.a. onwards |
| Doctors Loan | 8.75% p.a. onwards for all loans |
| Vehicle Loan | 7.75% p.a. onwards |
| Gold Loan | 8.75% p.a. onwards |
Commenting on the occasion, Mr. Vasant Srivastava, Head–Retail Banking, SVC Bank, said, “2020 was an unprecedented year. At SVC Bank, we believe that every gloom paves way for hope. In the past two months, we have witnessed the spirit of resilience among our customers – steering their way to progress in the new normal. We sense a renewed urgency among customers to achieve their dreams. To empower them, reach their goals faster, we are partnering through our flagship SVC Loan Utsav. In the past two editions we have empowered the aspirations of more than a lac customers across the country and we expect to continue making a positive change through affordability, customization and access, with the current edition too.”
Any customer willing to avail the loans can simply SMS “LOAN” to 9820620454 or call on 18003132120. The Bank has more than 10 Lakh customers across 198 branches in the country. SVC Bank offers a wide range of products and services comparable to the best in the banking industry. The Bank has embarked upon a journey of digital transformation, which combined with strong relationship management, a committed workforce, and robust processes, makes it well positioned to evolve in the new normal.
About SVC BankSet up in 1906, SVC Bank has contributed significantly to the development of the cooperative movement in India for over a century. Today, the Bank is one of the oldest and most recognized names in the country’s co-operative Banking space and remains the country’s only multi-state scheduled Bank with a presence across 11 states – Maharashtra, Karnataka, Goa, Gujrat, Rajasthan, Delhi, Haryana, Madhya Pradesh, Andhra Pradesh, Telangana, Tamil Nadu. With a total business of Rs. 28108 Crores plus and a Net Profit of Rs. 142.01 Crores (FY 19-20), it has proven its robust and strong fundamentals. The Bank offers the entire gamut of services across Retail Banking, Corporate Banking and International Banking. Headquartered in Mumbai, the Bank has a vast spread of 198 branches, 211 ATMs and has an employee strength of over 2500.
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