Andhra: IOB opens new branch in Narasannapeta

Narasannapeta (Srikakulam district): Indian Overseas Bank (IOB) expanded its presence in Andhra Pradesh with the inauguration of a new branch at Narasannapeta in Srikakulam district. The branch was formally opened on Monday by Ravi Kumar Gupta, Senior Regional Manager of IOB’s Visakhapatnam Region. Customers T. Sridhar, owner of the premises, and B. Bhargav, president of the Mandal Rice Millers’ Association, also took part.

Gupta said the new outlet becomes the 76th branch under the Visakhapatnam Region, reflecting the bank’s continued focus on strengthening services in the State. He outlined IOB’s loan offerings, including MSME, education, retail, agriculture, jewellery, Mudra, SHG and Mahila Saksham loans. The bank is currently providing housing loans at 7.35% and vehicle loans at 7.85%, both with zero processing fees.

He added that IOB is actively implementing government schemes such as PM Surya Ghar, PM Vishwakarma and PM Vidyalakshmi, and facilitating enrolment in social security insurance schemes.