The Hindu Business Line : IOB scheme for PSU issues

VISAKHAPATNAM: 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 Rs 10 lakh per individual, can be taken from the bank, according to Mr A.J Prasad, Senior Regional Manager.

There will be no pre-payment charges and no guarantee is required. The loans can be taken from the Dwarakanagar and Jagadamba branches in the city, and the Eluru and Kakinada branches.

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