PANAJI: Mr Agnelo N Fernandes, MLA and chairman, EDC Ltd today handed over the first cheque to the beneficiary of the personal loan scheme for Government employees, launched by EDC Ltd.

Mr Fernandes expressed satisfaction that, after the successful implementation of Chief Minister’s Rozgar Yojana (CMRY), the corporation has entered the retail market, by way of various schemes for small borrowers. He said that, all-out efforts would be made to ensure speedy sanctioning and disbursement of loans under various schemes of EDC and especially those being operated for the Government employees, said a press release.

EDC has recently launched the personal loan scheme for the employees of the State Government and its corporations, teachers and staff of aided schools and colleges, apart from MPT and Goa Shipyard. As part of its diversification plans, EDC has entered the retail market by way of housing, and vehicle at extremely competitive interest rates. The rate of interest on housing loans is 9.5 per cent p.a., which is fixed for the entire term. Similarly, the rate of interest on vehicle loans is being charged 9.5 per cent p.a. for a repayment period of seven years.