ESAF Small Finance Bank

ESAF Small Finance Bank was set as a small finance bank as per the regulations made in the Union Budget of 2014-2015. In adherence to how a Small Finance Bank should function, ESAF Small Finance Bank is regulated by the Reserve Bank of India under the Banking regulations Act of 1949. The Bank was set to fulfil the needs of the population that has been unbanked and untouched by the commercial banking sector. The functionalities of the Small Finance Banks have been exclusively designed to fulfil the financial needs of the underprivileged masses, by providing basic activities like deposits and lending. ESAF Small Finance Bank provides various banking services to its customers like deposits, locker facilities, Insurance facilities, loans, and Internet Banking, among others.

The current CEO of ESAF Small Finance Bank is Mr. Kadambelil Paul Thomas. Further, the registered address of the ESAF Bank is ESAF Small Finance Bank, ESAF Bhavan Mannuthy P. O., Thrissur, Kerala, India - 680651. In case of grievances, customers can contact the Bank’s compliance officer, Mr. N. Sivasankaran by mailing him at principalnodalofficer@esafbank.com or by calling on 8589975504. In addition to that, to raise any further queries, the compliance officer can be reached out at ESAF Small Finance Bank, ESAF Bhavan Mannuthy P. O., Thrissur, Kerala, India - 680651

Savings and Current Accounts

• ESAF Small Finance Bank provides deposit facilities to its customers through savings and current account facilities. 
• The Bank provides various zero balance savings accounts and instant account opening facilities through its online portal.
• The interest rate on ESAF Bank savings account begins from 4.00%
• ESAF Bank also provides specialized current accounts to carry on business transactions for various sections like startups, retailers, wholesalers, transporters, and travel agents, among others.

• ESAF Small Finance Bank offers a variety of debit cards to its customers that range from Rupay to Visa Debit cards.
• These cards are designed to offer privileges to customers on transactions involving shopping, entertainment, and travel, and allows cash withdrawal at all banks ATMs.

ESAF Small Finance Bank Fixed Deposit

• ESAF Small Finance Bank offers high fixed deposit rates upto 6.75%.
• The bank provides higher interests on FDs than commercial banks.
• Depositors can open a fixed deposit account with ESAF Small Finance Bank with a minimum deposit of Rs. 1000 for a tenure of 7 days to 10 years .

• ESAF Small Finance Bank provides recurring deposits facility, wherein you can regularly invest your money and can earn interests. You can earn high returns upto 6.50% on ESAF Bank RD account. Check detailed ESAF Bank RD interest rates here.
• ESAF Bank RD can be opened with a minimum amount of Rs. 500 for a period ranging from 6 months to 120 months.

ESAF Bank offers both secured and unsecured loans to its customers, like Home loans, personal loans, car loans, and business loans at affordable interest rates. ESAF Small Finance Bank is accustomed to lend more than 75% of its Adjusted Net Credit for the priority sector. This includes lending funds to poor people for housing, lending to farmers for agriculture and allied activities, lending to micro and small industries, and lending to weaker sections of the society.

Loan products	Feature
Personal Loan	Unsecured loan offered on the basis of credit score to meet one’s personal expense.
Car Loan	Secured loan offered for the purchase of a car, where the car acts as collateral.
Home Loan	Secured loan offered for the purchase, renovation or construction of a house.
Gold Loan	A secured loan where the borrower can mortgage their gold to borrow funds against it.
Business loan	Loans offered to business units for undertaking business activities like purchase of plant and machinery, purchase of equipment, to undertake construction or to meet day to day expenses.

To add more to the convenience of the customers, ESAF Small Finance Bank offers net banking facility to the customers. The bank’s digital banking platform is hassle-free and easy to use. All customers with savings or current accounts can have access to ESAF Small Finance Bank net banking or mobile banking platform. One can register for ESAF Small Finance Bank net banking by following the below-mentioned steps:

• Go to the homepage of ESAF Small Finance Bank net banking or visit the web portal of ESAF Small Finance Bank.
• On the home page, look out for the option ‘New user registration’ or a similar option.
• Proceed further, and enter details like bank account number, branch details, registered mobile number, and click on ‘Submit.’
• As you click on ‘submit’ a one time password is sent to the registered mobile number. Enter the OTP and click on ‘confirm.’
• Clicking on ‘confirm’ will create your temporary login details with a temporary username. Users can create their password.
• After creating the password login and creating your permanent username, and accept all terms and conditions.

The ESAF Small Finance Bank is a go-to-option when it comes to choosing the right bank for your banking needs because of the following reasons:

• ESAF Small Finance Bank is a retail-focused and customer-centric bank.
• ESAF Small Finance Bank offers a variety of loan products to fulfil the credit needs of different loan borrowers. These are a personal loan, car loan, home loan, gold loan, or business loan. The loans with ESAF Bank are offered with easier terms and conditions along with affordable interest rates.
• ESAF Small Finance Bank offers different type of investment options that are tailor-made for different types of investors. The Bank offers various Fixed deposits products such as Regular Deposit. Apart from fixed deposits, the Bank also offers a recurring deposit facility.
• In addition, ESAF Small Finance Bank is a reliable and secure place to deal with when it comes to funding, as the bank is regulated directly by the RBI.
• Lastly, ESAF Bank offers easy and quick banking services, through its online banking portal; thus, customers can check their account balance, apply for a loan, can make a deposit, and can perform other banking functions, from the comfort of their home.

✅Is ESAF Small Finance Bank safe?

Similar to commercial banks, ESAF Small Finance Bank is safe and secure as it is regularized by RBI.

✅Can ESAF Small Finance Bank accept deposits?

ESAF Small Finance Bank is a small finance bank that was set to provide banking activities to the underprivileged people. This bank conduct basic banking activities like deposits and lending.

✅Is ESAF Small Finance Bank approved by RBI?

ESAF Small Finance Bank is approved by RBI under the Banking regulations Act of 1949. 

✅Is ESAF Small Finance Bank FD a safe option to invest?

ESAF Small Finance Bank provides fixed deposits investment facility to its customers. The Bank provides highest interest of 6.75% to its customers. The interest rate provided by ESAF Small Finance Bank is comparatively higher than any commercial bank. Also, the FDs are equally safe in this bank.

✅Can I take a loan from ESAF Small Finance Bank?

Yes, you can opt for a loan from ESAF Small Finance Bank. ESAF Bank provides loan products loans like home loan, personal loans and business loans, among others.