IOB has also introduced Green Deposit Scheme under Retail Term Deposits
CHENNAI, Feb 10 (The CONNECT) – Celebrating its 88th anniversary, Indian Overseas Bank (IOB) unveiled its plan to open 88 new branches across the country to broaden its outreach and elevate its service spectrum.
Chidambaram Chettyar founded the Bank on this day in 1937.
IOB Managing Director & CEO Ajay Kumar Srivastava stated that the expansion initiative underscores the bank’s dedication to offering comprehensive financial services, thereby fostering economic vibrancy and inclusivity in communities, pan-India.
IOB introduced three new credit card variants, Freedom Savings and Current Account variants and Digital Document Execution (DDE).
IOB has also introduced Green Deposit Scheme under Retail Term Deposits (Less than Rs.2 Crore) to promote Green Finance Eco System I India. Tenor of the deposit shall be 999 days with interest rate of 6.85%, 5 bps higher than the regular term deposit.
Positioning itself as a catalyst for positive change in the lives of its customers, IOB has donated donating 11 tricycles and 9 wheelchairs to differently abled individuals through the Ramakrishna Mission. It also contributed a Samsung fridge and other essentials to the Blind Girls of Thaaikarangal Charitable Trust.
