Manage Money

Bank Name

Advance Salary Loan from Indian Overseas Bank in Machilipatnam

The city of Machilipatnam in the Krishna district of Andhra Pradesh functions as a municipal corporation, as well as the administrative, headquarter of its district. The city is also known as Masulipatnam and Bandar. It is an ancient port town which served as the settlement of the European traders in the 16th century. The British, Dutch and French used it as a major trading port in the 17th century. Machilipatnam experiences a tropical savanna climate with hot and humid summers and moderate winters. The city gets torrential rainfall during July, August and September. Owing to its vicinity to the Bay of Bengal, Machilipatnam is frequently hit by cyclones originating in the sea. The Machilipatnam Municipal Corporation is the civic body responsible for the governance of the city. This seaside city is known for its handloom industry, specializing in Kalamkari textiles that are exported to the United States and other Asian countries. Building boats and fishing are the other notable industries. Machilipatnam used to be a trading base for the Europeans and was known for the minting of copper coins, exporting diamonds and textiles. The AP state government is trying to revive the glory of the former port city. The Machilipatnam Area Development Authority is planning to set up a deep seaport and its associated industrial corridor at Machilipatnam which is expected to employ over 25,000 people.

Get your free Credit report that cost  Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs

Low interest rate Premium Bike Loan in Machilipatnam, 24 January 2020 from Indian Overseas Bank

IOB based in Chennai, is a public sector bank with almost 3400 domestic branches, including 1150 branches in Tamil Nadu, and eight offices in overseas as of 31 October 2017. An ISO certified in-house Information Technology department, which had developed the software used by IOB to provide online banking to customers earlier. The IOB had a network of around 3300 ATMs across India, as of 2016. The branches of IOB are in Singapore, Bangkok, Colombo, Seoul. The representative offices of IOB are in Guangzhou, Dubai, and Vietnam. In 1937, the Indian Overseas Bank (IOB) was established by Thiru.M. Ct. M. Chidambaram Chettyar for encouraging foreign exchange operations and overseas banking. IOB opened a representative office each in Guangzhou, China, and Kualalampur. IOB opened other Representative offices in Dubai and the United Arab Emirates in the year 2009. In 2015, IOB launched m Passbook applications and new mobile banking services. The Apollo Munich Health Insurance has tied up with IOB to serve specialized health and personal accident products to its customers.

Get your free Credit report that cost  Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs