Published On: Mon, Apr 22nd, 2019

Suryoday Small Finance Bank (SSFB) commences its operations in Bangalore, launches its first Branch in Jayanagar.

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  • Suryoday SFB Launches its first Branch in Bangalore
  • The Bank has recently raised capital of Rs. 248 crs , which will be give them a strong backing to pursue their business plans.”
  • Offers one of the most competitive deposit rates in the industry. Currently a   savings account can get an interest rate of up to 7.25%, and on an FD, the customer can earn up to 9% interest rate.
  • For senior citizens, the interest rate offered is 9.5%
  • SSFB has a deposit base of Rs. 1,241 crs. The gross loan portfolio is Rs. 2,706 crs, with a YOY growth of over 84%.

 

Bangalore ,22nd April 2019:  Suryoday Small Finance Bank (SSFB), one of the fastest growing small finance banks announced the commencement of its banking operations in Bangalore by launching its first bank branch today. The branch was inaugurated by Shri G. K Mahantesh , President of Cricket Association for the Blind in India ( CABI ) & World Blind Cricket ( WBC ) at SSFB, GVS Complex, No 329, 10th A Main, 3rd Block Jayanagar, Opp. To Cosmopolitan club, Bangalore: 560011.

Speaking on the occasion, Mr. BaskarBabu – MD & CEO, Suryoday Small Finance Bank said, “Suryoday Small Finance Bank is focused on ensuring financial inclusion of the un-banked and under-banked through innovative banking practices.We are happy to start our banking operations today with our first bank branch inBangalore. With the launch of this branch we look to further strengthen our existing presence in Karnataka state which is a strong forte for the bank and we will offer one the most competitive interest rates on deposits to our customers because of our robust business model with low operating costs”.

He further added  “We have completed 2 years of operations as a Small Finance Bank and we plan to continue building a healthy bookandgenerate wealth for our customers. In this financial year, the focus will be to deliver not just excellent customer experience but to create delight factors for all the segments we cater to, through technological initiatives and innovations”

 

Suryoday Small Finance bank offers one of the most competitive deposit rates in the industry. Currently, a savings account can get an interest rate of up to 7.25%, whereas, on fixed deposits, the customer can earn up to 9% interest rate. For senior citizens, the interest rate offered is 9.5% for 950 days term. The interest on savings account is credited every month.

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