AU Small Finance Bank has announced special festive plans (AU Small Finance Bank Festive offers) for its customers across the country which will run till 7 November. Under these month-long schemes, 100 percent rebate on processing fee for limited term loan schemes like gold loan, 0.20 percent rebate in processing fee for agricultural loan, processing fee on security business loan. This includes 0.50 percent off and 50 percent off on processing fee of vehicle loans for purchase of vehicles.
According to Uttam Tibrewal, Executive Director, AU Bank, this initiative has been taken in view of the encouraging response to the last two editions of the special festive schemes. He said that we are hopeful that this year also our customers will spend more during the festival season. Earlier, the Reserve Bank of India has decided to extend the Special Long Term Repo Operations (SLTRO) for Small Finance Banks (SFBs) till December 31, 2021. Till now this facility was available till October 31, 2021. In May 2021, SLTRO facility of Rs 10,000 crore was made available to SFBs at repo rate for three years.
The Reserve Bank said on Friday that it has been decided to extend this facility till December 31, 2021 in view of the adverse impact of the epidemic on small units, micro and medium enterprises and other organized sector units. This facility will now be available immediately as per the need.
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