Media Release

Mangalore, Oct 7: Karnataka Bank Ltd, one of the leading private sector banks of India, has launched a Pan India Special Campaign for its home and car loan schemes with attractive terms and concessions.

P Jayarama Bhat, MD and CEO of the bank inaugurated the campaign on Monday October 7 at bank’s head office, here.

For the home and car loans availed during the campaign period, the processing charges and periodic administrative charges are waived. The bank is offering home loans up to Rs 75 lakhs at its base rate, being the lowest permissible interest rate. Higher limits are at attractive competitive rates. For house construction loans, extended holiday period also will be provided with no extra interest rate. Car Loans are sanctioned up to 85% of the on-road price of new vehicle with repayment period up to seven years, at competitive interest rates. The offer is valid up to January 31, 2014.

“This special festive season offer is an effort by the bank to reach out to the needy customers to fulfill their dream of owning a house and or a car of their choice. Bank has put in place a system of speedy sanction by adhering to TAT [Turn Around Time] of two working days for car loan and seven working days for housing loan,” said P Jayarama Bhat, MD and CEO.

Chief general manager Mahabaleshwara M S, the general managers –  N Upendra Prabhu and M V C S Karanth, the deputy general managers – V N Manohar, Subhaschandra Puranik and Chandrashekar Rao B, assistant general managers Venkatakrishna Bhat, P Kashinath, Nirmal Kumar K Hegde and the chief manager Srinivas Deshpande and senior manager Udayashankar were also present on the occasion.