South Indian Bank to set up ATMs at IndianOil pumps
New Delhi & Thiruvananthapuram   21-Sep-2009
South Indian Bank (SIB) has signed a Memorandum of Understanding with IndianOil to set up ATMs at retail filling stations of the latter across India. Under the agreement, signed at Kochi yesterday, SIB would initially set up ATMs at 17 retail outlets of IndianOil. IndianOil's Executive Director Mr. H. S. Bedi and SIB's Executive Director Mr. Abraham Thariyan were present at the function, a SIB release said today. 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.