SBI launches Plus schemes for providing loans without hurdles

By Our Banking Bureau | 20 Mar 2003

Kochi: State Bank of India (SBI) has launched Plus schemes here aimed at providing loans to various sections of society without hurdles.

SBI chief general manager C Sundarashyam says the success of the scheme has prompted the bank to consider formulating such Plus schemes for the benefit of other sections of society, too.

The bank had earlier introduced new schemes such as Justice Plus (for judges and court employees), Police Plus (police personnel), Teacher Plus (teaching community) and Doctor Plus (medical practitioners).

Beneficiaries availing themselves of loans under various schemes of the bank, such as housing, car and personal loans, will get the benefit of special concessions, in terms of rate of interest, margin and processing fee, if they are availed under Plus schemes.

Moreover, loan sanction formalities have been made simple and easy so that there will not be any delay in the sanction of loans under this package.