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

Public sector-lender Indian Bank is planning 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 is 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 sub-branches would come up in Edappally, Tirur and Kunnankulam shortly, he added.     

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

 

The bank had launched a 'festive offer' scheme in the home loan sector for both residents and NRIs on August 20. 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 up to 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 up to Rs 10 lakh with a repayment period of 36 months and 10.25 per cent for above three years and up to five years.