IOB scheme for PSU issues
By Our Banking Bureau | 04 Oct 2004
1
Visakapatnam:
Indian Overseas Bank (IOB) has devised a special financing
scheme for the public to invest in the shares of public
sector units (PSUs) such as NTPC, according to a bank
release.
The interest rate for these loans will be 9.5 per cent and 60 per cent of the offer price, subject to a ceiling of Rs10 lakh per individual, can be taken from the bank, according to A J Prasad, senior regional manager.
There will be no pre-payment charges and no guarantee is required. The loans can be availed from the Dwarakanagar and Jagadamba branches in the city, and the Eluru and Kakinada branches.
.webp)
.webp)
