Vishakapatnam: A three-day Mega Loan Mahotsav was inaugurated here today by the SBI DGM, Supriyo Kumar Chaudhuri. This loan festival will witness participation from 35 branches.

Last year, the Mega Loan Mahotsav distributed loans of Rs. 250 crores and this years target has been set up at Rs. 300 crore.

Many other banks have offered discounts on home loans and other retail loans as festive discounts. SBI had earlier organized a home loan festival in Kokata, where it offered fabulous discounts on interest rates as well as processing fees. State Bank of Mysore had also organized a home loan fair at Chennai for its customers and is planning to hold more such fairs for its clients.