India Oil & South Indian Bank Sign MoU for ATM’s
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Thursday, 24 September 2009 |
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South Indian Bank (SIB) has signed a Memorandum of Understanding with
IndianOil to set up ATMs at retail service stations across India.
Under the agreement, signed at Kochi this month, SIB would initially
set up ATMs at 17 retail outlets of Indian Oil. Indian Oil's Executive
Director Mr. H. S. Bedi and SIB's Executive Director Mr. Abraham
Thariyan were present at the official announcement.
Adding 23 more branches to its countrywide network, the total number of
CSB branches of SIB would touch 575 by the year-end. The bank has a
total of 307 online ATMs.
The MoU was signed by Mr. Jose Mohan, DGM, SIB and Mr. Ullas Kamath Chief Retail Sales Manager, IndianOil.
Meanwhile, the bank has announced a new low-rate housing loan scheme with fixed rate of interest for the first three years.
The scheme, South Indian Bank Shelter with-fixed interest rate for the
first three years, would provide loans for purchasing ready-built
houses or flats or constructing new Ones on one's own land anywhere in
India. The interest rates under the scheme would be as low as 8.50 per
cent fixed per annum for the first 18 months and 9.50 per cent in the
following 18 months.
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