Indian Bank to increase branches in Kerala to 100 in 2009-10

Public sector Indian Bank planned to increase the number of its branches in Kerala to over 100 from the present 89 during the current fiscal, a top official said today.

The Chennai-headquartered bank was planning to open 13 branches and 22 ATMs in the state during 2009-10, Ernakulam Circle General Manager R Radhakrishnan told reporters here.

Three of the new branches would come up in Edappally, Tirur and Kunnankulam shortly, he added.

Total business of the bank in Kerala upto August 18,2009 was Rs 4,306.59 crores, including deposits worth Rs 2,820.21 crore and advances to the tune of Rs 1,486.38 crore, he said.

 

The bank had on August 20 launched a 'festive offer' scheme in the home loan sector for both residents and NRIs. The scheme offering interest rates ranging from 8.25 per cent to 9.25 per cent for loan amounts starting from Rs 20 lakh and upto Rs 50 lakh and above would end on October 31 next.

Similarly, for car loans under the festive offer the bank would charge 10 per cent interest for loans upto Rs 10 lakh with a repayment period of 36 months and 10.25 per cent for above three years and upto five years.