Suryoday Small Finance Bank (SSFB) has launched a Savings Account named ‘Health and Wellness Savings Account’ to support under medical emergencies.
- The account offers top-up health insurance of Rs 25 lakhs (for Self and Family), annual healthcare package, and on-call emergency ambulance medical care services (upto distance of 20 Kms till 31 March 2022).
i.A resident individual with age limit of 18 years to 65 years can open the account (joint/ single account).
ii.The individual needs to maintain the Average Monthly Balance (AMB) of Rs 3 lakhs and to be eligible as per the health declaration form.
i.Interest Rate: The bank provides the highest interest rate of up to 6.25 percent per annum based on the balance in the savings account.
ii.The account also includes – Rs 1.50 lakh daily ATM withdrawal limit, Rs 3 lakh daily POS (point of sale) usage limit, and ‘Platinum’ RuPay Secure Chip Debit Card variant.
iii.Tie-up: The Bank has collaborated with Manipal Cigna Health Insurance (for providing top-up health insurance), Vhealth Aetna (for providing annual healthcare package), and Ziqitza Healthcare (for providing ambulance on-call services).
iv.The bank also enables the existing saving account customers to upgrade to the new Health and Wellness Savings Account.
Recent Related News:
RBI permitted the Small Finance Banks’ (SFBs) lending to Micro-Finance Institutions (MFIs) for on-lending to individuals under the classification of priority sector lending (PSL) for which the MFIs need to have Rs 500 crore asset size (Currently, the SFB’s PSL is not permitted for MFIs for on-lending).
About Suryoday Small Finance Bank (SSFB):
Headquarters – Mumbai, Maharashtra
MD & CEO – BaskarBabu Ramachandran