Central Bank of India and Vau’s Automobiles started a mega car loan camp in the capital on Monday, adding to the festive cheer of residents.

The bank’s deputy general manager Mohit Kodnani inaugurated the three-day camp at Vau’s Automobiles in Dakbungalow Chowk.

Sajal Dutta Gupta, assistant manager (marketing), Central Bank of India, Patna, said: “We have organised the vehicle loan camp in association with Vau’s Automobiles for the residents, including state government employees. We had signed an agreement with the state government in this regard on October 12. At the camp, the customers will be able to get loans for all types of vehicles sanctioned on the spot at the lowest rate of interest.”

Sources said the government employees would get the loan at 10.5 per cent, while loans to general customers will be sanctioned at 11 per cent.

Three loans were sanctioned on the camp’s first day, while at least 70 enquiries were placed. The bank’s assistant manager, G.M. Banerjee, said: “This is the time (Diwali and Dhanteras) when people decide to buy cars so we are optimistic that more people will come to the loan fair in the next two days,” he said.