Indian Bank was established a part of Swadeshi movement on 15 August 1907. It provides a wide spectrum of banking products and services.It is pioneer in introducing Self Help Groups and Financial Inclusion Project in the country
It has entered into a strategic tie-up with HDFC Standard Life Insurance Company Ltd., the first in the private sector to receive the Certificate of Registration for foray into Life Insurance business for distribution of latter’s insurance products. A Memorandum of understanding has been signed by the Bank with the Insurance Company on 8th February 2001 to this effect.
Indian Bank has two subsidiaries Indbank Merchant Banking Services Ltd, IndBank Housing Ltd.
It is having overseas branches in Singapore , Colombo including a Foreign Currency Banking Unit at Colombo and Jaffna
Personal Banking Under this it offers fixed deposits, saving accounts, recurring accounts, saving accounts for kids and senior citizens, internet banking, ATM facility, debit/credit cards, home loans, personal loans.
NRI services It offers banking products and services to NRI clients such as saving accounts, remittance facilities, forex advisory services, home loans, etc.
Indian Bank provides cash management services (CMS), eletronic funds transfer schemes. It also provides seven-day banking at few of its branches.
Milestones and Awards
Indian Bank received the Skoch Challenger Award for its financial inclusion initiatives in Pondicherry and Dharavi.
The bank bagged first prize for excellent performance under SHG-Bank Linkage Programme conducted by NABARD.
Three branches of Indian Bank located in Tamil Nadu were awarded best performing commercial bank.
2010Indian Bank launches ASBA Phase II, Sets up Loan Syndication Desks 2011Indian Bank launches ''e-Treasury'' Indian Bank wins - ''Best Risk Master Award'' Indian Bank launches 24 hours e- Banking Lounge at Alwarpet, Debit Cards for Senior Citizens and Inter-bank Mobile Payment Services 2012Award for bravery by Indian Bank Launching of Online Fees Payment Facility for the students of Institute of Distance Education and Other Departments of University of Madras 2013National Excellence Award in Micro Enterprises lending by Ministry of MSME, GOI 2014Indian Bank receives Best Bank Award for extending Credit to SHGs , from the Government of Tamil Nadu