Kerala Financial Corporation slashes lending rates

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Trivandrum: Kerala Financial Corporation (KFC), the pioneer industrial financing institution of Kerala, has slashed the lending rates by 0.5% for all schemes in all sectors and the interest reduction will benefit thousands of manufacturing, industrial and service sector units supported by KFC to service their loans comfortably.

With scientific Credit Rating Continuum introduced recently to motivate good governance and best practices in business, the Corporation will also provide interest reduction up to 2% from PLR for eligible borrowers by rating the units in addition to the interest rebate given for prompt repayments. An interest reduction of 1% to enterprises fully owned by women entrepreneurs or SC & ST entrepreneurs will be continued and the effective interest rate of scheme for Energy Saving Projects, the special scheme to promote energy saving measures in SMEs for the implementation of Energy Saving Devices / projects, will be 6% per annum.

“This is an excellent opportunity for Kerala MSME sector to avail loans at the lowest rates in the market with easy terms. KFC expects to achieve the targeted sanction and disbursement and also expects to increase the loan portfolio and take the current year profit to a new high”, said Yogesh Gupta IPS, Chairman & Managing Director of the Corporation.

Corporation plans to woo MSME sector in the coming months by conducting business meets with prospective customers throughout the state. The first such meet was held in Ernakulam on October 15, 2012. The meet was a huge success with about 50 business houses participating.

Kerala Biz News

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