United Bank announces festive offer on car loans


Kolkata: In order to attract more customers during the festival season, United Bank of India announced an interest rate cut of 100 basis points (bps) on car loans up to December 31, 2009. As part of this festive offer, the bank has also waived off the processing fees on such loans. After celebrating its 60th Foundation Day on December 18, the bank is observing the last fortnight of the year as Foundation Fortnight, which falls during Christmas. The bank's Chairman and Managing Director, SC Gupta announced this special offer during the 'Car Utsav,' which was organized by leading car dealers in Kolkata. Close to six regions of the bank consisting of around 300 branches would participate in the 'Utsav' and provide 'on-the-spot' sanction to the customers. The bank's car loan portfolio grew by about 46 percent at 215 crore during the eight month period between March 3, 2009 and November 30, 2009. During the current offer, the bank aims to disburse over 250 car loans.