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Operations start for ESAF Small Finance Bank
April 11, 2017
Just launched ESAF Small Finance Bank is ready to offer interest rates between 5.75 percent and 9 percent, for various term deposits, depending upon their maturity year.
The bank has also said to offer 6 percent to 7 percent on savings depending upon the outstanding balance in the account.
This is Kerala’s first private bank and was launched by Kerala Chief Minister Pinarayi Vijayan on Friday.
ESAF is said to have Rs. 300 crore owned fund and it has recently raised Rs. 330 crore through commercial paper. The bank is moving ahead with a target business of Rs. 20,000 crore by the year 2020.
