2017-09-13 :Indian Bank announces the launch of new loan product for home repairs
Indian Bank has launched a new home loan product, IB Home Enrich for repairs and renovation of houses. Under this loan facility, customers can avail loan up to 36 times their gross monthly income, subject to a maximum of Rs. 10 lakh without mortgaging their house property.
2017-09-11 :Indian Bank revises MCLR rates
Indian Bank has reduced its marginal cost based lending rate across all tenors. For overnight and one month maturities, the rate has been revised to 8 per cent and 8.05 per cent, while for three month and six month maturities the rate has been reduced to 8.15 per cent and 8.25 respectively. The new MCLR rates are effective from 7th September, 2017.
2017-08-19 :Indian Bank introduces the launch of Ind-GST
Indian Bank has introduced a loan for GST software, Ind-GST which is a collateral free soft loan to enable entrepreneurs update their systems to be GST compliant. The newly launched soft loan by the bank will assist business entrepreneurs to ensure timely update of their software to make them GST compliant.
2017-08-17 :Indian Bank introduces two-tier interest rate for savings account
Indian Bank has introduced a two-tier interest rate structure for its savings bank customers. Under the arrangement, the bank will offer interest at the rate of 4 per cent for balance above Rs. 50 lakhs and 3.50 per cent per annum for balance up to Rs. 50 lakh. The new interest rate is effective from 16th August, 2017.
2017-08-07 :Indian Bank sets under 5 per cent gross NPA target by March
Public sector lender, Indian Bank is looking to bring down its gross non-performing assets to below 5 per cent by March, 2018 from over 7 per cent aided by its better recovery of bad loans in the current quarter. Simultaneously, the lender is also targets to improve its net interest margin to 3 per cent from 2.79 per cent now.
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