PremiumFincare Small Finance Bank is all set to welcome 2023 by offering the highest possible interest rates on savings accounts. The bank is providing 7.11% annual interest on account balances between 5 and 25 lakhs. The interest on the savings account is calculated on a daily basis and is paid on a quarterly basis. The bank has said in an official announcement that the top interest rate among banks in the country is effective from the 1st of Jan 2023.
Individuals can open a savings account with the bank instantly through Aadhaar-based authentication. Fincare Small Finance Bank offers a range of savings account options to its customers such as Imperial Savings Account, Smart Saver Account, Priority Account, Prime Savings Account, Priority Plus Account, Pro-Priority Account, 101 First, 101 Priority, 101 Priority Plus, BSBDA Account, and Shakti Account.
Mr. Rajeev Yadav, MD&CEO, Fincare Small Finance Bank said “Opening a savings account is the first basic step of managing finances and just like fixed deposits, savings accounts are considered a staple investment vehicle. Keeping our core promise of customer delight in mind, we are pleased to announce our latest offering of best-in-class interest rates on Savings Account. We aim to leverage our superior interest rates and digital banking services to attract savvy and discerning customers to our smartbanking stack".
A broad range of products are available from Fincare Small Finance Bank, including current and savings accounts, fixed and recurring deposits, credit solutions such as loans against gold and property, loans for affordable housing, overdraft options, and microloans including secure transactions enabled by the Unified Payment Interface (UPI). As of the end of March 2022, the bank employed more than 12,000 people and served 32+ Lakh clients in 19 States and UT. Through banking centers, ATMs, WhatsApp, video banking, mobile banking, internet banking, and chatbots, it provides its contemporary banking services to its customers. In accordance with Section 22 of the Banking Regulation Act of 1949, the Bank started conducting banking activities on July 21st, 2017. The bank was specified in the Second Schedule to the RBI Act, 1934, which was released on April 13, 2019, in the Gazette of India. In its annual report of 2021-22, Fincare Small Finance Bank said that it served 32 Lakh+ customers, video banking services launched, made footprints in new states, launched 919 Banking outlets and won Celent Award for Audit process management.