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Union Traditional bank home mortgage - Get 1 shirt, get fifty per cent discount around the 2nd. This is a common sales pitch adopted by outlets selling readymade garments. Now, a manifeste sector traditional bank has taken a leaf away from this popular retail revenue method to push residence loans. Mumbai-headquartered Union Standard bank of India has unveiled a whole new marketing campaign whereby it promises loyalty advantages to its house financial loan consumers. Beneath the loyalty reward scheme, the bank's residence financial loan clients can get 50 foundation details (one particular foundation stage equals 0.01 for each cent) concession in monthly interest on automobile financial loans and waiver in processing expenses in the scenario of education financial loans. Apart from, the traditional bank may even offer you its consumers, who've serviced their residence financial loans frequently for three a long time, leading up financial loans for the extent in the quantity which has been repaid. Portfolio expansion The standard bank, which recorded a 35 per cent jump in its retail lending portfolio from Rs 10,000 crore as of March-end 2009 to Rs 13,five hundred crore as of March-end 2010, is making use of the advantages scheme as being a important differentiator to draw more retail customers into its fold. According to a senior official, the scheme has been drawn as many as ensure that together with the house financial loan portfolio, the auto and schooling bank loan portfolios also grow. "Through the lately launched loyalty advantages scheme for home loan customers, we wish to carry forward the development momentum we reached in FY2010 in the retail lending portfolio," stated Mr S Govindan, General Supervisor, Union Bank of India. As of March-end 2010, home financial loans accounted for 67 for each cent (or Rs 9,000 crore) in the bank's complete retail lending portfolio of Rs 13,five hundred crore. Training and auto financial loans accounted for 11 for each cent (or Rs one,five hundred crore) and 9 per cent (or Rs 1,two hundred crore) respectively from the somme retail lending portfolio. Union Bank's credit score portfolio improved by a strong 23.3 for each cent (to Rs 121,000 crore) as versus the Reserve Traditional bank of India's non-food credit expansion projection of sixteen for each cent to the banking sector for FY2010. As a way to appeal to personal savings standard bank (SB) deposits, the state-owned traditional bank also programs to unveil a pre-sanctioned loan facility for its SB account holders. The mortgage quantity in such cases will probably be joined to your common balances taken care of by them within the account. The bank's present account, cost savings bank account (CASA) deposits nudged up to 31.68 for each cent (30.06 per cent in FY2009) of the complete deposits of Rs one hundred seventy,000 crore as of March-end 2010. In FY2010, its deposits enhanced by 22 for each cent. In accordance to Mr Govindan, the bank's newest '10/10' campaign on home financial loans, amongst others, focuses on attributes like hassle-free documentation, prolonged repayment period of time (twenty five years), versatile equated regular monthly instalment facility and no prepayment penalty. bank home loans