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Our Bureau

New Delhi June 15 ING Vysya Bank on Friday launched a new product targeting the high-income group employees called `Orange Salary Account'.

Addressing a press conference here, Mr Vaughn Nigel Richtor, Managing Director, ING Vysya Bank, said, "The product is ideally suited to customers who are not inclined to visit the bank's branches for operating their account but prefer to operate it from their home or office."

Speaking about the new offering, Mr V.A. Varghese, Head-Liabilities, Consumer Products and Sales, ING Vysya Bank, said, "The key features of the Orange Salary Account are customers can maintain a zero balance account, get an international debit card and also free unlimited ATM transaction at ING Vysya Bank and over 20,000 other bank ATMs."

The account holder also gets free issue and usage of personalised multi-city cheques and also personnel assistance service at select centres. "If account holders have some liquidity problem, then they are eligible for temporary overdrawing up to 50 per cent of the net-take home salary," Mr Varghese said.

The bank is targeting employees working in software and ITes sector, MNCs and top-end corporates in Hyderabad, Bangalore and Delhi. When asked, Mr Richtor said that the bank has no immediate plans to raise interest rate on retail loans or deposits in near future, but added interest rates would be compatible with the market rates.

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