IDBI Bank inaugurates zonal office in Bhubaneshwar

IDBI Bank step towards empowering regional network and encouraging business opportunities in the region.

August 12, 2014 3:42 IST | India Infoline News Service
IDBI Bank’s Zonal Office was inaugurated at the state capital by its Chairman and Managing Director, M.S. Raghavan. The new zonal office is a step towards empowering the Bank’s regional network and encouraging business opportunities in the region.

The newly opened zonal office is in tune with the Bank’s strategy to provide further autonomy to understand the local needs and extend financial assistance to the region. In addition to this, the zonal centres will also play a vital role in helping the Bank achieve its goal of expanding its retail loan and MSME loan portfolio in the state. IDBI Bank has set a target of doubling its home loans and MSME disbursals in the zone in the next three years and offers multiple products to cater to customers in these two segments.

For targeting housing finance customers, the Bank has introduced a takeover scheme wherein customers can shift their housing loans to IDBI Bank with no processing charges being levied on them. The Bank doesn't charge processing fee on fresh home loan also. In addition, IDBI Bank has another scheme wherein it offers additional amount of loan upto 100% of original loan sanctioned to those customers who have already transferred their housing loans to IDBI and require more funds. For both these schemes, the Bank charges its existing base rate only.

The Bank offers very competitive rates to the MSME segment. IDBI Bank has schemes for wholesale and retail traders, manufacturers, professionals & self-employed, medical practitioners and vendors of large and medium corporate and also offers discount to borrowers who have external rating.

Speaking on the occasion, M.S. Raghavan, Chairman and Managing Director, IDBI Bank, said, “The establishment of our zonal office complements and supplements the strengthening of our presence in the state. The Bank’s initiative today is a testament to our commitment to empower the zones to bring in unprecedented financial solutions to our customers.”

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