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<\/a><\/p>\nSSFB offers one of the most competitive deposit rates in the industry. Currently a savings account can get an interest rate of up to 7.25%, whereas for an FD, the customer can earn up to 8.75% interest rate. For senior citizens, the interest rate offered is 9%
\nSSFB has a deposit base of more than 500 crs a gross loan portfolio of around 1,352 crs, with a YOY growth of 37%
\nChennai, March 14, 2018<\/p>\n
Suryoday Small Finance Bank (SSFB), one of the fastest growing small finance banks today announced the opening of its first \u2018Partnership led Outlet\u2019 in Chennai. The branch was inaugurated by Mr. Baskar Babu, MD & CEO of Suryoday Small Finance Bank.<\/p>\n
Speaking on the occasion, Mr. Baskar Babu \u2013 MD & CEO, Suryoday Small Finance Bank said, \u201cWe are delighted to open our first \u201cPartner led banking\u201d Outlet by Partnering with Ex-Bankers, thereby fostering partnership and entrepreneurship. At Suryoday strong governance, transparency and superior customer experience are non-negotiable and we believe that these partners, who have been ex bankers; would help bring in more ideas on servicing and understanding the customer needs. This is a unique business model we see opportunity and growth through this.<\/p>\n
Speaking further, he said \u201cIn the first year of operation, our endeavor has been about getting the basics right. In the next financial year, we will be focusing on conversion of our 216 microfinance branches to banking outlets. We want to deepen the relationship with our customers and move from being lenders to wealth creators for them. In terms of business approach, we plan to build a healthy book but and in the process we want our customers to grow with us.\u201d<\/p>\n
Suryoday Small Finance bank (SSFB ) is positioned well both in terms of assets and liabilities. Currently (end of Q3-FY-18\u2019) SSFB has a deposit base of more than 500 crs a gross loan portfolio of around 1,352 crs, with a YOY growth of 37%.<\/p>\n
About Suryoday Small Finance Bank<\/p>\n
Suryoday Small Finance Bank Ltd\u00a0(previously known as\u00a0Suryoday Micro Finance Ltd) kick-started its banking operations last year with 25 full-service operational branches across 6\u00a0states\u00a0Maharashtra, Tamil Nadu, Puducherry, Odisha, Gujarat and Madhya Pradesh.<\/p>\n
The Bank\u2019s net worth as of March 2017 is Rs. 505 Crore (provisional) with an Asset Book size of Rs. 964 Crore, Capital Adequacy ratio of 53%. and credit ratings A- \/ A1 by CARE.<\/p>\n
On the liabilities side, SSFB offers CASA, FD, Tax saver FD and RD products with one of the most competitive deposit rates in the industry. Currently a savings account can get an interest rate of up to 7.25%, whereas for an FD, the customer can earn up to 8.75% interest rate. For senior citizens, the interest rate offered is 9%<\/p>\n
The Bank\u2019s website \u0013 HYPERLINK “http:\/\/www.suryodaybank.com” \u0014www.suryodaybank.com\u0015 offers comprehensive details about its products and services.<\/p>\n","protected":false},"excerpt":{"rendered":"
SSFB tying up with ex bankers in a \u201cPartnership led outlet\u201d to expand it\u2019s footprint. It has opened its first \u201cPartner led outlet\u201d in Chennai SSFB offers one of the most competitive deposit rates in the industry. Currently a savings account can get an interest rate of up to 7.25%, whereas for an FD, the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-9826","post","type-post","status-publish","format-standard","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/9826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9826"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/9826\/revisions"}],"predecessor-version":[{"id":9827,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/9826\/revisions\/9827"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}