Meaning of ING Vysya Bank

Can you tell me in detail about the ING Vysya Bank? Also tell me about the services offered by ING Vysya Bank as I want to know it before I invest in it?

[Shaleen]

ING Vysya Bank was a privately owned Indian multinational bank which was based in Bangalore with retail, wholesale, and private banking platforms formed from the 2002 purchase of an equity stake in Vysya Bank by the Dutch ING Group. This merger marks the first between an Indian bank and a foreign bank.

Prior to this transaction, it had a seven-year-old strategic alliance with erstwhile Belgian bank Banque Bruxelles Lambert, which was also acquired by ING Group in 1998.

As of March 2013, it is the seventh largest private sector bank in India with assets totaling Rs. 54836 crore (US$8.3 billion) and operating a pan-India network of over 1,000 outlets, including 527 branches, which service over two million customers.

It was ranked the "Safest Banker" by the New Indian Express and among "Top 5 Most Trusted Private Sector Banks" by the Economic Times.

In 2014, ING Vysya Bank decided to merge with Kotak Mahindra Bank, creating the fourth largest private sector bank in India. On 1 April 2015, the Reserve Bank of India approved the merger.

Services Offered

Loans
•
o Home Loans
o Personal Loans
o Education Loan
o Tractor Finance
o Loan Against Property
o Rural Auto & Farm Equipment Finance
o Home Improvement Loans
o Home Loan Balance Transfer
o Gold Loans
o Commercial Vehicle Finance
o Loan Against Securities
o Construction Equipment / Infrastructure Finance
o Unnati Auto Finance

Cards
•
o Debit Cards
o Debit Card Services
o Credit Cards
o Compare Credit Cards
o Credit Card Services
o Prepaid Cards
o Kotak Netc@rd
o Kotak Offers

Investments & Insurance
•
o Pradhan Mantri Bima Yojana
o Atal Pension Yojana (APY)
o Sovereign Gold Bond Scheme
o Life Insurance
o Qualified Foreign Investor (QFI)
o Mutual Funds
o ASBA
o Demat Account
o National Pension System

Accounts & Deposits
•
o Savings Accounts
o Current Accounts
o Corporate Salary Accounts
o Jifi Account
o Term Deposits
o Safe Deposit Lockers
o Kotak 3-in-1 Account