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Friday, Dec 13, 2002

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Corporation Bank to host home loan fair

Our Bureau

KOCHI, Dec. 12

IN a bid to boost its presence in the home loan segment of Kerala significantly, Corporation Bank will be organising a Home Loan Fair in the city on December 20-21.

The event will bring together architects, builders, contractors, traders and manufacturers of building materials, interior decorators, furnishers, paint distributors, white goods manufacturers, and life and general insurance companies under one roof for the benefit of the customers, according to the Chairman of Corporation Bank, Mr Cherian K. Varghese.

Spot approval for home loans for pre-approved projects will be a major attraction at the fair.

"Going by the 9th Plan estimate, the demand-supply gap in housing is said to be 33 million units, in a situation where there is an acute need for about 15 million houses in urban regions and 18 million houses in rural regions. Currently, there is a shortfall of 19.4 million housing units" Mr Cherian said.

The bank's home loan scheme carries an interest rate of 9-10 per cent and is repayable within an outer limit of 25 years.

Through a process of aggressive marketing of innovative products, the bank is all set to expand its customer base in Kerala, Mr Cherian said.

It plans to expand its ATM network from 17 to 25 by March 2003.

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