"To fulfil the needs of our customers, Times Bank would launch retail finance schemes like auto and personal loans later this month or early next month," Times Bank manager (personal banking) Sangeeta Saxena said.

She said intitially these schemes would be launched in Mumbai and New Delhi followed by other branches in the country.

Interest rates charged will be competetive and market driven, she said adding that current rates would range between 16.5 per cent to 18.5 per cent annually with tenure of loans ranging between one to five years.

Apart from it, the bank would also provide customised schemes for varied vehicles aimed at different customers segments and this would be decided with the manufacturer and dealers.

There would be a special scheme where the borrower contributes 30 per cent of the value of the car and the remaining 70 per cent will bethe loan amount with no income papers required under this scheme, she added.

For personal loans, Saxena said this would be provided to salaried people for their personal requirements without their needs being disclosed to the bank.

She said apart from retail finance schemes, times bank would also be launching millenium centres across the country.

"These centres are different from bank branches. Millenium centres will have the ATM facility at various residential locations from where a customers can do all kinds of transactions ranging from cash withdrawal to cheque deposits and cheque book requests," she said.

In addition to this, Times Bank also plans to launch 24-hour telephone banking facility in the capital. Currently this facility is available in Mumbai only.

Last week, Times Bank had announced to launch its Maestro debit cards in association with MasterCard International.

Under debit card, Times Bank customers can access money in their savings account from ATMs as well pay directly tomerchant establishments for wide range of goods and services.

These debit cards would be launched from July this year and would be accepted at all merchant locations throughout the country starting with Mumbai, Bangalore and New Delhi.

The holders of Maestro Cards would also be able to access cash at 146 MasterCard ATMs in 19 cities across the country in addition to existing Times Bank ATMs.