ESAF Small Finance Bank FD Rates

ESAF Small Finance Bank- The journey of ESAF began in a small house named ‘Little’ at Thrissur in 1992. Contrary to what the name sounds, ESAF Society was launched with a bigger vision of sustainable holistic transformation of the poor and the marginalized. The success of Grameen bank in Bangladesh reinforced the vision of K. Paul Thomas the Founder and Managing Director of ESAF. In 1995, he launched Micro Enterprises Development (MED) services and it resulted in the formation of ESAF Microfinance and Investments Pvt. Ltd., in 2008. The increased focus on microfinance was inevitable as the founder was clear in his understanding of the importance of financial component in holistic economic development of the poor. Gradually, ESAF Microfinance earned its place among the top ten Microfinance institutions in India.

As an MFI, ESAF was unique in manifold ways. Community ownership, higher proportion of female field staff, integrated approach etc. were some of the features, which distinguished the organization as a socially focused entity. The business model of the Organization combined the unique methodology of selecting and servicing customers at the front end with technology, processes & disciplines of modern retail banking at the back end. We have had an excellent growth and consolidation phase in the past few years. As on 31st March 2016, we have almost 2500 employees and a customer outreach of over 1.2 million.

In 2015, the Reserve Bank of India, the financial regulator in the country has granted in-principle license to ESAF to launch a Small Finance bank. ESAF Small Finance Bank was one amongst the ten NBFCs to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a Small Finance Bank in the private sector. In November 2016, the final license was issued by the RBI. ESAF Small Finance Bank was incorporated on May 05, 2016, with its registered office in Thrissur.

Source- ESAF website

ESAF Small Finance Bank FD Rates

Retail Term Deposit (Less than INR 1 Cr)RATE OF INTEREST#
Domestic#
TenureNORMALSENIOR CITIZEN
7 days to 59 days5.75%6.25%
60 days to 90 days6.50%7.00%
91 days to 179 days6.75%7.25%
180 days to 363 days7.50%8.00%
364 days5.60%6.10%
365 - 727 days8.75%9.25%
728 days6.80%7.30%
729 - 1091 days8.00%8.50%
1092 days5.66%6.16%
1093 - 1819 days7.00%7.50%
1820 days5.65%6.15%
1821 - 3652 days7.00%7.50%
1-4-18

ESAF Savings Interest Rates

SAVINGS BANK ACCOUNTRATE OF INTEREST# 
NORMALSENIOR CITIZEN
Domestic#
Up to 1 lakh4.00%4.00%
Above 1 lakh upto 10 lakhs6.50%6.50%
Above 10 lakhs (i.e for incremental amount above INR 10 lakhs only)7.00%7.00%
a. With cheque book facility
Up to 1 lakh4.00%4.00%
Above 1 lakh upto 10 lakhs6.50%6.50%
Above 10 lakhs (i.e for incremental amount above INR 10 lakhs only)7.00%7.00%
a. No Frills Account/Basic Savings Bank Account
Up to 1 lakh4.00%4.00%
Above 1 lakh upto 10 lakhs6.50%6.50%
Above 10 lakhs (i.e for incremental amount above INR 10 lakhs only)7.00%7.00%

Customer Care no- 1800 103 3723

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