In a bid to bolster its retail asset book, the state-owned Central Bank of India has announced a three-month extension of its festival offer, now stretching until March 31. The extension comes after the initial deadline of December 31, 2023, and aims to provide customers with continued benefits, including low-interest rates, processing fee waivers, and other favorable terms.
Vivek Kumar, General Manager (Retail Assets) at Central Bank of India, highlighted the enticing features of the ongoing offer. Under the Cent Grih Laxmi Scheme and Cent Business Scheme, the bank is providing the lowest interest rates in the industry, starting from 8.35 per cent. The extension aligns with the bank’s strategic focus on expanding its retail asset portfolio and fostering a positive environment for prospective borrowers.
In a recent development, the Central Bank of India organized a meeting with prominent real estate developers across Delhi-NCR. The event witnessed the participation of approximately 150 Direct Sales Agents (DSAs) and 50 renowned builders from the region. This initiative reflects the bank’s commitment to engaging with key stakeholders in the real estate sector and exploring collaborative opportunities.
Vivek Kumar further emphasized that interest rates on most products have reached their peak, providing customers with a favorable lending environment. Additionally, he noted that the bank’s liability-side interest rates have stabilized, and the liquidity position remains within manageable levels.
Commenting on the co-lending model, Kumar highlighted the Central Bank of India’s success in building a substantial asset book through this innovative approach. The co-lending model, which involves collaboration between banks and non-banking financial institutions, has proven to be an effective strategy for enhancing lending capabilities and meeting the diverse financing needs of customers.
As Central Bank of India extends its festival offer, customers can leverage the attractive benefits provided by the bank to fulfill their housing and business financing requirements. With competitive interest rates and customer-friendly terms, the extension aims to stimulate demand and contribute to the bank’s growth in the retail lending segment.