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ESAF Bank Savings Account

ESAF Bank Savings Account Online

Last Updated 22nd Jan 2021

  • ESAF Small Finance Bank offers a wide range of savings account products for specific customer groups.
  • Minimum balance requirement to open a savings account in ESAF Small Finance Bank is Rs. 1,000.
  • You can get high returns up to 7.00% on a savings account.
  • Open instant ESAF Small Finance Bank savings account online.
  • Internet banking and mobile banking facility available.
  • The facility of safe deposits locker facility, nomination available in ESAF Small Finance Bank.
Apply for Savings Account

ESAF Bank Savings Account

ESAF Small Finance Bank offers a wide range of savings accounts that allows individuals to deposit money, keep it safe, and withdraw funds, all while earning interest. It provides a savings account according to the needs of the specific customer groups and caters to their requirement. For instance, it offers the Premium saving account for its high-end customers and also provides the minor savings account for children below the age of 18 years. The bank offers several facilities like internet banking, mobile banking, and allows no minimum balance requirement in many saving account products.

Features and Benefits of ESAF Bank Savings Account

Benefits of ESAF Small Finance Bank saving Account are as follow:

  • ESAF Small Finance Bank offers an interest rate on saving account in the range of 4.00% to 7.00%.
  • Balance requirement for ESAF Small Finance Bank savings account is Rs. 1,000.
  • An individual can transfer the ESAF Small Finance Bank savings account to any other branch without changing the account number.
  • Safe deposits locker facility, nomination facility is also available.
  • ESAF Small Finance Bank savings account provides the facility of linking to the Multi Option Deposit account to fetch higher term deposit interest on the surplus money.
  • It provides various kinds of debit cards as per account holder’s convenience.
  • ESAF Small Finance Bank offer banking facilities like internet banking and missed call banking. An individual can also avail the mobile banking facility which provides services like interbank mobile payment services (IMPS), utility bill payments, mobile recharges, enquiry and statements and cheque book request.
  • No charge is levied for passbook service.

ESAF Bank Savings account Charges

ProductMinimum balanceInterest RateNon Balance Maintenance Charges
Regular Saving Account Rs. 1,0004.00% - 7.00%NIL
Premium saving accountRs. 10, 0004.50% - 7.00%NIL
Pradhan Mantri Jan Dhan Yojana (PMJDY)NIL4.00% - 7.00%NIL
Senior Citizen Saving Account Rs. 1,0004.00% - 7.00%NIL
Mahila Saving AccountRs. 1004.50% - 7.00%NIL
Student Saving AccountRs. 1004.00% - 7.00%--
Selfe Savings4.00% - 7.00%--
Elite 4.00% - 7.00%--
Edge 4.00% - 7.00%--
Basic and Small saving account 4.00% - 7.00%--
My saving account4.00% - 7.00%--

ESAF Bank Savings Account Products

ESAF Bank offers multiple savings account products for different purposes. Some of the popular products of ESAF Bank savings are:

Regular Saving Account

ESAF Regular Savings account pays a modest interest rate, and its reliability makes it an excellent option for parking cash one wants for short-term needs.

Key Features:

  • The savings account provide facilities such as fund transfer, standing instruction, and ECS facility.
  • Average quarterly balance should be minimum Rs. 2,000.
  • Minimum initial payment should be Rs. 1,000.

Eligibility:

  • Resident Indians of 18 years of age and above.

Premium saving account

ESAF premium saving account offers savings vehicle for high net worth individuals coupled with security.

Key Features:

  • Minimum initial payment should be Rs. 10000
  • Average quarterly balance should be minimum Rs. 10000
  • Fund Transfer, Standing Instruction, ECS, facilities available.

Eligibility:

  • Resident Indians of 18 years of age and above

Pradhan Mantri Jan Dhan Yojana (PMJDY)

ESAF Pradhan Mantri Jan Dhan Yojana (PMJDY) is aimed at financial inclusion and simplifies banking for people seeking basic facilities.

Key Features:

  • No initial deposit required
  • Insurance cover available

Eligibility:

  • Resident Indians between age group 10 years to 65 years

Senior Citizen Saving Account

ESAF senior citizen account is a saving scheme for senior citizens. It provides doorstep facility, convenience, and amazing banking experience.

Key Features:

  • Minimum initial payment should be Rs. 1000
  • Average quarterly balance should be minimum Rs. 2,000

Eligibility:

  • Resident Indians aged above 60 years

Mahila Saving Account

ESAF Mahila saving account offers saving vehicle for women coupled with security, easy liquidity and attractive returns for their funds.

Key Features:

  • Minimum initial payment should be Rs. 100
  • Average quarterly balance Average quarterly balance should be minimum Rs. 1,000
  • Fund Transfer, Standing Instruction, ECS, facilities available.

Eligibility:

  • Women above 18 years of age

Student Saving Account

Student saving account is a savings account for students. It aims at helping students in achieving their education and career aspirations.

Key Features:

  • Minimum initial payment should be Rs. 100
  • Average quarterly balance should be minimum Rs. 1,000
  • Facility of joint account holder and nomination

Eligibility:

  • Individual in the age group of 10 to 25 years.

ESAF Bank Savings Account Nomination Plan

ESAF Small Finance Bank asks their customers to make nominations which imply that they should nominate individuals to whom the amount lying in their accounts should go in the event of their death. Nomination can be made in account opening form itself or on a separate form indicating the name and address of the nominee. The person can change the nomination any time. ESAF Bank savings account provides the nomination facility in all the savings products.

ESAF Bank Savings Account Welcome Kit

ESAF Small Finance Bank provides a Welcome Kit containing personalised cheque book and ATM Card, which is mailed to the customers’ postal address selected for correspondence, after 7 – 8 working days from the date of opening of a particular savings account.

Top Applications Offering UPI Facility

ESAF Bank Savings Account Helpline

Individuals can call ESAF Small Finance Bank’s 24X7 helpline number , which is accessible from all landlines and mobile phones in the country.

Open saving account with Other Banks online

FAQs

Can I open ESAF Bank bank account online?

ESAF Small Finance Bank enables individuals to open a savings bank account online as well. Individuals can open an Insta saving account and digital savings account.

What is the minimum balance for an ESAF Bank savings account?

Minimum balance requirement differs with ESAF Small Finance Bank saving account products. The minimum balance required to open a Regular Saving Account in ESAF Small Finance Bank is Rs. 1,000.

Which saving account is best in ESAF Bank?

There are various savings account products offered by ESAF Small Finance Bank. These accounts are specially developed for a certain section of people. Individuals may compare the interest rate offered, minimum account requirements and facilities provided to select the best product.

Can I open ESAF Bank account with zero balance?

The minimum balance requirement to open a savings account with ESAF Small Finance Bank is Rs. 1,000. If any individual does not maintain the minimum balance then non-balance maintenance charges are levied.


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