On Monday, Ujjivan Small Finance Bank announced the introduction of a “Women Savings Account” to meet women’s financial needs. Under the name ‘Garima Savings Account.’
It will provide women with a variety of tailored perks, including a savings account that provides up to 7% interest.
About Company
Ujjivan SFB (Small Finance Bank) launched banking operations in February 2017. Ujjivan SFB now has 575 branches spread across 24 states and union territories.
Ujjivan Small Finance Bank Limited is Ujjivan Financial Services Ltd’s wholly-owned subsidiary.
The Reserve Bank of India has granted the bank a permit as a small finance bank in India under Section 22 (1) of the Banking Regulation Act, 1949.
Features
Garima Savings Account offers a higher cash deposit and free unlimited withdrawal at any Ujjivan SFB branch with no additional charges for non- home branch transactions.
Customers would also enjoy unlimited free NEFT and RTGS transactions through internet banking and mobile banking.
Some other benefits include purchase protection, one call card blocking along with offers on bill payments, entertainment and lifestyle.
Objective
Ujjivan SFB intends to represent the financially literate and economically involved women of the market segment with this product and remain a partner in their banking services.
Comment from company
Nitin Chugh – MD & CEO, “We have been dealing with women customers for the last 15 years. As we have experience both as a MFI in the past and now as a Bank, we have a deep insightful understanding of the financial requirements of women customers.”
Hence, we know how to cater to their needs and aspirations. Moreover, we would also like to learn from our customers and keep enhancing our product programme.”
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