Indian Overseas Bank (IOB) plans to recruit 500 ‘credit officers’ from campuses across the State, according to M. Narendra, Chairman and Managing Director.
Colleges, particularly management institutes, will be targeted for the purpose, Narendra told newspersons here.
PROCESS ON
The process of recruiting 387 specialist officers, including 337 agricultural field officers, has already been launched.
The bank has already recruited 1,500 probationary officers during the course of the year, Narendra said.
On foreign operations, he said that IOB is awaiting RBI permission to upgrade its office in Dubai to a full-fledged branch. The bank has set up a helpline for NRIs, nrihelp@iobnet.co.in .
In response to the growing relevance of solar energy, the bank had put in place a retail credit scheme ‘IOB Surya.’ This is designed to finance purchase of renewable solar energy equipment such as solar cookers, solar heaters, and home and indoor lighting systems.
SPECIFIC PRODUCTS
The bank provides loan up to Rs 15 lakh to high net-worth individuals/self-employed for fulfilling various financial needs.
These may include finance for enjoying a dream holiday or meeting marriage expenses or social/financial commitments. No security, guarantee or margin is required.
Under the IOB reverse mortgage loan scheme, senior citizens may avail of loans of up to Rs 1 crore against the mortgage of residential property.
The bank has a customised savings product for defence personnel with host of facilities, Narendra said.
EDUCATION SUPPORT
Facilities offered include zero balance salary account, free personal accident insurance cover, free debit card, Internet banking and mobile facility, among others.
Under special education support scheme, the bank provides finance of up to Rs 20 lakh for studies in India and Rs 30 lakh for those abroad.
It provides loan of up to Rs 2 lakh for coaching/tuition fee at reputed institutions in India for entrance examinations for professional courses.
Eligible courses include chartered accountancy, medicine, engineering, business management, civil services and career and skill development courses.