Archive · 19 Jun 2025
IOB Opens New Branch in Vizianagaram; Announces Loan Offers
Indian Overseas Bank (IOB) has opened a new branch in Vizianagaram.
The new branch was opened in the Ring Road area.
At the opening, the bank announced loans for houses and vehicles with low interest rates and no extra fees.
They also offer other loans for businesses, education, and farming.
If you are older than 60, you can also get an interest rate of 7.10% for retail term deposits for 444 days.
The bank will be opening more branches in the future, too.
Indian Overseas Bank (IOB) opened a new branch in the Ring Road area of Vizianagaram.
The inauguration was led by Ravi Kumar Gupta, Visakhapatnam Region Senior Regional Manager (SRM).
IOB is offering housing loans at 7.35% and vehicle loans at 7.85% with no processing fees.
The bank provides various loan types including MSME, Education, Retail, Agriculture, and Jewel Loans.
New branches are planned for Palasa, ALASA, Narasannapeta, and S Kota by July 31, 2025.
- Who
- Indian Overseas Bank (IOB)
- What
- IOB opened a new branch and announced loan offers.
- When
- The opening was on Wednesday and further branches by July 31, 2025
- Where
- Ring Road area of Vizianagaram
- Why
- Not explicitly mentioned
- Bank
- Indian Overseas Bank (IOB)
- Location
- Vizianagaram, Ring Road
- Inauguration Lead
- Ravi Kumar Gupta, SRM
- Housing Loan Interest
- 7.35%
- Vehicle Loan Interest
- 7.85%
- Retail Term Deposit Interest
- 7.10% for individuals below 60