Bank of India launches its first ever branch in Ladakh
The bank has reduced the interest rates for vehicle loans to 6.85% and 6.50% for housing loans
On Friday, the Bank of India (BOI) opened its first-ever branch in the Union Territory of Ladakh, with an aim to extend its banking operations to the people living in far-flung areas of the country. It said that this was the 5,086th branch opened by a bank in India and abroad, which is fully computerised and digitized with an E-gallery facility to provide 24×7 services to Leh’s residents. Further, the new branch will boost economic activities in the region, but will also facilitate the local people to various banking products like housing, education, vehicle and agricultural loans, and also reap the benefits of other government schemes.
Bank to provide quality digital facilities
For the defense and paramilitary personnel, the bank added that it has a unique salary account scheme providing free insurance cover.
The bank has reduced the interest rates for vehicle loans to 6.85% and 6.50% for housing loans, recently, it said.
It added that the bank will continue to provide the best-quality banking facilities to its customers and connect more people to mainstream banking with fully digitised facilities.
At the Leh branch, the bank conducted a customer outreach programme, wherein it distributed loan sanction letters to various beneficiaries. This was done as a part of the bank’s mission to reach maximum number of customers in India.