New IOB branch opened in Vizianagaram

Vizianagaram: Indian Overseas Bank (IOB) has added another branch to its cluster by opening another one in Ring road area of Vizianagaram.

Ravi Kumar Gupta, Visakhapatnam Region Senior Regional Manager (SRM), inaugurated the new IOB branch on Wednesday

Speaking on the occasion, he said that IOB was offering housing loans with Interest @7.35%, vehicle loans with interest @ 7.85%, one of the best rates in the market without imposing processing fee.

The SRM informed that IOB was also offering various types of MSME, Education, Retail, Agriculture and Jewel Loans at attractive interest rates. IOB was offering interest rate of 7.10% per annum on retail term deposits for 444 days to individuals aged below 60. SRM Gupta stated that Visakhapatnam Region is having 72 branches & one RBI Currency Chest at Visakhapatnam. He confirmed that new branches at Palasa, ALASA, Narasannapeta in Srikakulam district and S Kota in Vizianagaram district will be opened before 31st July 2025.

Chief Manager D Srinivasa Rao, Ring Road Br Manager Suresh Kondrothu, Vizianagaram Br Manager Saurav Vishal, AIOBEU Assistant General Secretary D Uma Maheswara Rao , R C Patnaik and others have attended the programme .