Speaking on the occasion, Mr. Baskar Babu – 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 in Bangalore. 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 book and generate 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.