The Development Credit Bank Ltd, a private sector scheduled commercial bank, has tied up with Tata AIG General Insurance Co Ltd for the distribution of general insurance products, Mr Sandeep Mookerjee, country head of personal financial services said. "The bank is launching many value-added services for customers including, accident insurance cover for the savings bank account holders," Mr Mookerjee said, adding that the insurance will be free for the first three-months and the customers have the option to pay for the service later on.

The bank is also planning to enter the housing loan segment soon, he added. DCB has also tied up with First Remit for money transfers from abroad. The bank has a capital adequacy ratio of 11.4 per cent and its net worth is estimated at Rs 325 crores, he said. DCB has 55 branches and 3 extension counters in the country. The bank plans to open its second branch in Hyderabad at S.R. Nagar shortly.