Equitas SFB enters Kerala, opens branch in state capital

Equitas Small Finance Bank has expanded its network and business into Kerala by opening its first branch in Thiruvananthapuram. It will offer its entire product range such as all types of savings, investments, lockers, NRI Banking and loans, a spokesman said here.

Equitas SFB will cater to all types of customers from retail to institutional accounts and plans to expand to Palakkad, Kozhikode, Ernakulam, Thrissur to strengthen its presence across Kerala. It has a quick account opening process with just a selfie, the spokesman added.

Competitive rates on offer

The SFB offers up to 7 per cent interest rate on its savings account; 7.5 per cent for 888 days for fixed deposits and 7.4 per cent for recurring deposits for senior citizens. Equitas believes in supporting the local community through its ‘Beyond Banking’ initiative, the spokesman said. It also promotes sports and hence has national hockey player Rani Rampal and Indian cricketer Smriti Mandhana as its brand ambassadors.

On the occasion, Murali Vaidyanathan, Senior President and Country Head – Branch Banking, Liabilities, Products, and Wealth, Equitas SFB, along with other senior management and an NGO, planted 200 saplings, as one of the bank’s core values is working for the environment. The bank distributed saplings to every customer who walked into the branch for the inauguration.

Committed to nature

Vaidyanathan said that Equitas SFB respects the vast diversity of Kerala, in terms of its culture, history, food, festivals and business practices. “We truly believe we will be able to add on to the savings habits of the state by providing better interest rates. We are delighted to expand our footprint and serve the needs of the customers through the best of our solutions and services. We are expecting demand for all of our products, especially the gold loans and NRI accounts here. The opening of the other four branches will further reinforce our commitment to serve across the state,” he added.

Published on

July 11, 2022

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