State Bank of India (SBI) is opening a dedicated ‘Locker Shoppe-cum-Gold Loans’ branch in Visakhapatnam having round-the-clock operations, a top officer said today.
“The proposed branch would remain open for 24 hours for locker operations and gold loans which would be sanctioned up to 8 pm everyday,” said SBI General Manager (Andhra Circle) Gopal Krishan Kansal on the sidelines of a function.
He was speaking to reporters after inaugurating a new SBI branch at Asilmetta in the city.
About the bank products, Kansal said the “SBI was offering protected home loans where the dependents of the borrowers need not pay outstanding instalments in case of sudden demise of the borrower“.
Kansal said SBI has brought down its base rate and is currently offering home loans at 10%. SBI is offering ’personal accidental insurance’ cover of Rs 4 lakh at a premium of Rs 100 per annum for all its savings bank account-holders through SBI General Insurance.
He said SBI would be opening around 100 more branches in Andhra Pradesh by the end of financial year and seven among them will be opened in Visakhapatnam.