The public sector bank, Indian Bank has introduced a new product designed for the corporates and small and medium enterprises. The product is called Visa Business Card.
The card provides all the advantages of global cards besides free insurance benefit, and is priced reasonably, according to the bank.
The interest free period for these cards is 45 days and revolving credit facility is offered on the card on payment of 10% of the total bill outstanding.
The bank, based in Chennai has also introduced ATMs for the Regional Rural Banks (RRBs) it backs in order to fulfill the requirements of the rural clientele of the bank.
Both the cards were officially launched at a ceremony by Chairman of Cavin Kare India Ltd C K Ranganathan.
Sundara Rajan, Chairman and Managing Director of Indian Bank said, “After achieving 100 per cent CBS for all the three RRBs, the Bank is now launching the Co-branded ATM cards. This will enable rural customers to avail of 24×7 services”.
The bank has entered the credit card business in 2006 and since then has introduced 3 card models in the personal section viz. Global Gold and Classic Card and Bharat Card. It also offers various types of loans like personal loans to public.