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Indian Overseas Bank (IOB), the Lead Bank for Thiruvananthapuram district, has launched the Retail Mart, a retail lending concept, in Kerala's capital city.
The exclusive facility that handles retail products has started functioning at the main branch of the bank at Statue Junction in Thiruvananthapuram.
The Retail Mart has been designed with an aim to complete all the pre-release formailities at the customer’s door step and sanction quality retail loans at a competitive rate of interest with a minimum turnaround time.
Abraham Shaji John, Senior Manager, who is in-charge of the Mart, told BusinessLine that the bank has identified Thiruvananthapuram city as an area with potential business opportunity.
It is planning to disburse an additional Rs 100 crore in retail loans during the current financial year, he added.
The new facility will expeditiously entertain and process housing loans, vehicle loans and other mortgage loans.
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