Public sector lender, Corporation Bank has launched three new loan products. The products are named Corp Shubha Vivah, Corp Ghar Shobha and Corp SB Smile.

Corp Shubha Vivah is a loan product which has been launched to meet all expenses of the customer related to marriage in his family. All expenses like hall booking, food and catering, purchase of jewellery and clothes etc. will be catered to by the loan. The loan will be offered to a maximum limit of Rs 10 lakh in metro cities with 10% interest. The maximum tenor of loan repayment will be 10 years.

Corp Ghar Shobha will be catering to expenses related to renovation of house, purchase of consumer durables like refrigerator, television, washing machine, laptops etc. This loan can be availed upto a maximum limit of Rs 10 lakh with a repayment period of 10 years.

Corp SB Smile is a special Flexi Savings Deposit scheme having sweep facility to aid micro traders. An account can be opened under this scheme by paying Rs 200. Once the balance in this account reaches Rs 6000 mark, the system will automatically transfer the amount to a fixed deposit account in units of Rs 1000 after keeping a mimimum balance of Rs 5000 in the account.

The three products were introduced by Chief Executive Officer, Zilla Panchayat, Dakshina Kannada Dist P Shivashankar. The function was presided by Executive Director Asit Pal.