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SyndBank rolls out new products for MSME sector

Bangalore, October 20, 2013, DHNS: 22:14 IST
Syndicate Bank CMD Sudhir Kumar Jain. DH Photo
In a bid to reiterate its commitment to the MSME sector, public sector lender Syndicate Bank on Sunday launched five new products.

The products namely SyndDoctor, SyndGranite, SyndTextiles, SyndCashew and SyndTransport, are tailor-made schemes to meet the credit requirements of the cashew industry, transport operators and weavers among others.

The bank also celebrated its 88th Foundation Day on Sunday, and reduced interest rates on housing loans to base rate of 10.25 per cent p.a. (both existing and fresh loans) and also lowered interest rates on vehicle loans and consumer loans.

Talking to delegates on the ocassion, Syndicate Bank Chairman and Managing Director Sudhir Kumar Jain said, “Our banking finance is not confined only to providing finance for those who can offer the security of the traditional type but to help the common man who has any production enterprise... Going forward, Syndicate Bank intends to leverage the IT platform for better customer service.”

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