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Corporation Bank is a public sector baking company headquartered in Mangalore, India. Founded around 110 years ago in March 1906, with an initial capital of just Rs. 5000, Corporation Bank has come a long way since its humble beginning. The oldest banking institution in the erstwhile undivided South Canara District of the Madras Presidency, and one of the oldest banks in India, was established by a small group of philanthropists led by Khan Bahadur Haji Abdulla Haji Kasim Saheb Bahadur. Corporation Bank services have chartered a long journey that truly embodies the transformation of an institution which began with modest initiatives but has risen to great heights by sheer dint of unfaltering commitment and passion of the people behind it.
About Corporation Bank
Today, it has established a rich legacy, which is evident in its pan-Indian presence.
Corporation Bank financial services extends across 8000 functional units comprising 2200 branches, 1800+ ATMs, and 3000 branchless banking units as of January 2015. The bank has a commendable financial performance to its credit till date, and it has successfully partaken in national building by empowering the rural and urban population alike. Nationalized in 1980, Corporation Bank prides itself in being the forerunner when it came to evolving and adapting to the reforms of the financial sector. It also became the Second Public Sector Bank in the country in 1997 to enter capital market. In fact, Corporation Bank banking services has several firsts to its credit – Cash Management Services, Gold Banking, m-Commerce, Online approvals for Educational Loans, 100% CBS Compliance, and more recently, it has also played a pioneering role in taking the technology to the rural population in remotest villages through low-cost branchless banking- Business Correspondent model. These steps symbolize the bank’s infallible dedication to its customers to provide convenience banking. The bank is motivated by its passion to maintain the highest standards of service to its customers, backed by innovative products and services. it is due to the sincere endeavours put in at every step that Corporation Bank is today one of the leading Public Sector Banks in India, catering to a wide spectrum of customers, from individuals to corporate clients.
Vision and Mission
The vision of Corporation Bank is to emerge as a model for inclusive growth and innovative banking services. Its corporate mission is to expand the reach in order to meet the financial needs of people and to offer a wide range of banking services along with innovative products. It aims to adopt the latest technology to ensure a superior banking experience. The Bank also stresses on the creation of a rewarding environment for all stakeholders. It also emphasizes strongly on transparent and ethical practices, and seeks to be a model organization for the same.
Corporation Bank Loans:
Corporation Bank Loan against Property : The purpose of this loan is to meet personal expenses like marriage, medical expenses, business requirements, etc. Individuals belonging to the age bracket of 18-65 years owning residential/commercial property/industrial property, land and/or building can apply for this loan. Under the scheme of the Bank, close relatives may join as co applicant(s) to supplement repayment capacity. However, a maximum of only 2 co-applicants are permissible. Corporation Bank loan details state that the term loan is repayable within the repayment period of 7 to 10 years. The repayment period shall not exceed the retirement age of the applicant in case of salaried class and 70 years of age for non-salaried borrowers.