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Union Financial institution house bank loan - Get one particular shirt, get 50 for each cent discount on the 2nd. That is a common product sales pitch adopted by retailers selling readymade garments. Now, a public sector traditional bank has taken a leaf from this well-known retail sales approach to push property loans. Mumbai-headquartered Union Standard bank of India has unveiled a brand new marketing campaign whereby it promises loyalty advantages to its house mortgage consumers. Under the loyalty reward scheme, the bank's house bank loan consumers will get fifty foundation points (one foundation position equals 0.01 for each cent) concession in interest rate on automobile financial loans and waiver in processing charges within the circumstance of education and learning financial loans. Aside from, the standard bank may also offer its customers, who have serviced their residence financial loans on a regular basis for three many years, leading up loans for the extent with the amount that has been repaid. Portfolio progress The traditional bank, which recorded a 35 for each cent leap in its retail lending portfolio from Rs ten,000 crore as of March-end 2009 to Rs thirteen,500 crore as of March-end 2010, is making use of the rewards scheme as a crucial differentiator to draw a lot more retail consumers into its fold. In accordance to a senior official, the scheme continues to be drawn as many as make certain that in addition to the house financial loan portfolio, the vehicle and training bank loan portfolios also increase. "Through the recently launched loyalty benefits scheme for home mortgage consumers, we want to have forward the expansion momentum we achieved in FY2010 while in the retail lending portfolio," explained Mr S Govindan, General Supervisor, Union Financial institution of India. As of March-end 2010, residence financial loans accounted for 67 for each cent (or Rs 9,000 crore) of the bank's total retail lending portfolio of Rs 13,500 crore. Education and learning and vehicle financial loans accounted for 11 per cent (or Rs one,500 crore) and 9 for each cent (or Rs one,two hundred crore) respectively with the somme retail lending portfolio. Union Bank's credit score portfolio enhanced by a strong 23.3 per cent (to Rs 121,000 crore) as towards the Reserve Standard bank of India's non-food credit score progress projection of sixteen for each cent for that banking sector for FY2010. As a way to attract personal savings financial institution (SB) deposits, the state-owned standard bank also options to unveil a pre-sanctioned bank loan facility for its SB account holders. The financial loan amount in this case will likely be joined to your typical balances taken care of by them inside the account. The bank's latest account, personal savings checking account (CASA) deposits nudged approximately 31.68 per cent (30.06 per cent in FY2009) with the whole 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 most recent '10/10' campaign on residence loans, between other individuals, concentrates on functions such as hassle-free documentation, extended repayment period (twenty five years), versatile equated month-to-month instalment facility and no prepayment penalty. bank home loans