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ESAF Bank Savings Account Interest Rates

ESAF Bank Savings Account Interest 2020-21

Last Updated 22nd Jan 2021

Saving Account Interest Rate
Regular Saving Account 4.00% - 7.00%
Premium saving account 4.50% - 7.00%
Pradhan Mantri Jan Dhan Yojana (PMJDY) 4.00% - 7.00%
Senior Citizen Saving Account 4.00% - 7.00%
Mahila Saving Account 4.50% - 7.00%
Student Saving Account 4.00% - 7.00%
Selfe Savings 4.00% - 7.00%
Elite 4.00% - 7.00%
Edge 4.00% - 7.00%
Basic and Small saving account 4.00% - 7.00%
My saving account 4.00% - 7.00%
Apply for Savings Account

ESAF Bank Bank Savings Accounts Interest Rate

ESAF Small Finance Bank offers an interest rate ranging between 4.00% to 7.00% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With ESAF Small Finance Bank Savings Account youth and minors can get additional benefits on their Savings Account.

Features

ESAF Small Finance Bank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on ESAF Small Finance Bank Savings Account varies as per the Savings Account product. Some of the key features and benefits of ESAF Small Finance Bank savings account are:

  • It offers interest rates from 4.00% to 7.00% p.a. You can easily access ESAF Small Finance Bank Savings Account anywhere through a large network of branches and ATMs.
  • If you want to transfer funds from ESAF Small Finance Bank Savings account to any other bank account, you can do it through modes such as RTGS, IMPS, NEFT and UPI facilities.
  • To maintain ESAF Small Finance Bank Savings account, you require a minimum balance of Rs. 1,000.
  • ESAF Small Finance Bank personalized account number and cheque book enhances security and ensures your money is safe.
  • You can get SMS Alerts and e-statement facilities with ESAF Small Finance Bank Savings Account.
  • With Auto Sweep Facility of ESAF Small Finance Bank, your account can be linked to Multi Option Deposit MOD account.

ESAF Bank Savings Account Rates

Saving Account Interest Rate Minimum Balance
Regular Saving Account 4.00% - 7.00% Rs. 1,000
Premium saving account 4.50% - 7.00% Rs. 10, 000
Pradhan Mantri Jan Dhan Yojana (PMJDY) 4.00% - 7.00% NIL
Senior Citizen Saving Account 4.00% - 7.00% Rs. 1,000
Mahila Saving Account 4.50% - 7.00% Rs. 100
Student Saving Account 4.00% - 7.00% Rs. 100
Selfe Savings 4.00% - 7.00% N.A
Elite 4.00% - 7.00% N.A
Edge 4.00% - 7.00% N.A
Basic and Small saving account 4.00% - 7.00% N.A
My saving account 4.00% - 7.00% N.A

Banks Offering NetBanking Services

ESAF Bank Savings Account Products

  • Regular Saving Account : ESAF Small Finance Bank offers interest rates ranging between 4.00% to 7.00% on Regular Saving Account .You can open a Regular Saving Account in ESAF Small Finance Bank by depositing Rs. 1,000 amount as minimum balance.
  • Premium saving account: If you have deposited your excess funds in a Premium saving account, you can get interest at 4.50% to 7.00% on your account. This account can be opened by anyone with a minimum age of 18.
  • Pradhan Mantri Jan Dhan Yojana (PMJDY): ESAF Small Finance Bank provides interest rates ranging between 4.00% to 7.00% on Pradhan Mantri Jan Dhan Yojana (PMJDY). The minimum balance requirement to open this account is NIL.
  • Senior Citizen Saving Account : You can get interest at 4.00% and 7.00% respectively on Senior Citizen Saving Account in ESAF Small Finance Bank. The account can be opened in ESAF Small Finance Bank by depositing Rs. 1,000 amount.The debit card available for this account are Classic and platinum Debit Card).
  • Mahila Saving Account: If you have deposited your excess funds in a Mahila Saving Account, you can get interest at 4.50% to 7.00% on your account.
  • Student Saving Account: You can get interest at 4.00% to 7.00% in Student Saving Account. This account can be opened in ESAF Small Finance Bank by depositing a minimum amount of Rs. 100 after an age of 10.
  • Selfe Savings: The interest that you can earn on Selfe Savings is in the range of 4.00% to 7.00% respectively.
  • Elite : ESAF Small Finance Bank provides interest rate at 4.00% to 7.00% on Elite . Further, to open this Saving Account, the minimum balance requirement is . .

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FAQs

How much interest is charged by ESAF Bank on Savings Account?

ESAF Bank offers an interest rate of 4.00% to 7.00% on Savings Account.

What is the minimum amount required for opening Savings Account in ESAF Small Finance Bank?

The minimum amount required for opening Savings Account in ESAF Bank is Rs. 1,000.

What are the balance non - maintenance Charges on ESAF Bank Savings Account?

The Balance Non Maintenance Charges on Savings Account by ESAF Bank are NIL.

What are the ESAF Small Finance Bank ATM Transaction charges on Savings Account?

ESAF Bank ATM Transaction charges on Savings Account are The first 3 transactions (inclusive of financial and non-financial) in 6 metro locations in a month will be without any charge. Similarly, the first five transactions (inclusive of financial and non-financial)in all other locations in a month will be free.

How does ESAF Bank calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by ESAF Small Finance Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does ESAF Small Finance Bank offer Debit Card to the account holder?

Yes, various Debit Cards are offered, differing according to the product. Some of the popular savings account products of ESAF Small Finance Bank with the type of Debit Card offered are listed in the table below.

Regular Saving Account Classic and platinum Debit Card
Premium saving accountClassic and platinum Debit Card
Pradhan Mantri Jan Dhan Yojana (PMJDY)Classic and platinum Debit Card
Senior Citizen Saving Account Classic and platinum Debit Card
Mahila Saving AccountClassic and platinum Debit Card

Interest rate on all ESAF Small Finance Bank deposits products listed in the table above is 4.00% to 7.00%.

What is the withdrawal limit of the account?

The withdrawal limit offered in ESAF Small Finance Bank is Rs. 50,000

What is the eligibility criteria to open a savings account in ESAF Small Finance Bank?

Eligibility criteria for ESAF Small Finance Bank savings account -

  • Resident Indians of 18 years of age and above.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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