KALPATTA: District cooperative bank has reduced its interest rate on loans in order to help the commoners and protect the poor from ‘blade mafias’.
Bank president P V Balachandran has informed that more funds have been made available to help the bank sanction loans without hassles.
The interest rate over gold loan has been reduced from 13% to 11% and for other loans, the reduction is by 1 to 2 per cent. Housing Loan has been reduced to 10 % from 12.50 %.
SHG/JLG loans are now 9 %, and Tourism/Others loan 14 %
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