On November 6, 2019, Finance service company, Ujjivan Small Finance Bank(SFB) has launched an instant digital savings account (SA) along with Fixed Deposit (FD) and Privilege Savings Account to offer distinctive banking and digital services to its customers.
i.Instant Digital SA account: This account has the restriction of Rs 1 lakh deposit & has the unlimited free transactions on the bank’s own ATM (automated teller machine) and 6 free transactions for other bank ATMs per month.
Additional deposits: Customers required to complete full KYC(Know Your Customer) details by visiting the bank’s branch along with the documents, if they want to deposit more than Rs.1 lakh. Ujjivan bank customers can open this account instantly from a mobile phone /computer by using only with Aadhaar Card and Pan Card through Ujjivan Bank mobile app, which is available in 9 languages.
ii.Instant Fixed Deposit (FD) : With interest rate ranging from 5.5% (7days to 29 days) & up to 8.3% (799 days), the customers can invest in this account up to a maximum of Rs. 1 Lakh without a Savings Account.
iii.Privilege SA: This account comes with an eligibility of a monthly salary of Rs. 30,000 or above /on maintaining a Monthly Average Balance of Rs 25,000 / opening a Fixed Deposit of Rs. 10 Lakh.
It provides higher accidental insurance cover of Rs. 2 Lakh ,Platinum Debit card, domestic airport lounge access, home branch facility along with unlimited transaction on any ATM.
About Ujjivan Small Finance Bank:
Founded- 1 February 2017
Headquarters- Bangalore, Karnataka
MD & CEO- Nitin Chugh
Tagline- We believe in your belief