The Punjab Provincial Co-operative Bank Limited (PPCBL) has launched monthly income scheme, under which account could be open with an amount of Rs 50,000.
A spokesman of the Bank said here on Friday that people depositing money for a period of five-year will be paid 5 percent mark-up while retired employees and widows will get one percent additional mark-up.
The PPCBL, under its micro finance scheme, is also extending loans to farmers for purchase of tractors and agriculture machinery. The small farmers could also obtain loan up to Rs 50,000 for development of dairy products and livestock. Besides computer loans, the Bank is also providing loans against mortgage of gold.