Bengaluru, March 09 2017: Ujjivan Small Finance Bank Ltd. (Ujjivan SFB) has strengthened its presence in Bengaluru by opening six new branches in the city. The branches are located at Magadi Road, Chandra Layout, Chamarajpet, Uttarahalli, Devaiah Park and Nelamangala.
Ujjivan SFB commenced its banking operations last month with five pilot branches in Bengaluru. Over the next few months, Ujjivan SFB will open 12 more branches in Bengaluru and further expand its presence across 24 States in India in a planned and phased manner.
Commenting on the branch launches, Mr. Samit Ghosh, MD & CEO, Ujjivan Small Finance Bank said, “We are pleased to expand our banking network in Bengaluru which has always been a strategic market for us. Currently, 11 branches of Ujjivan SFB are offering full range of banking services in Bengaluru. At Ujjivan SFB, we are striving towards making banking more seamless and accessible for our customers using the latest technology. In the coming months, we will maintain our momentum by increasing our footprint across Karnataka and nationally to serve our target customer segment.”
Ujjivan SFB has invested significantly on technology and digitization. Aadhar enabled KYC and a simplified process will enable account opening in 5-7 minutes using biometric authentication on a hand-held device.
Ujjivan SFB is offering competitive and attractive rates of interest on Fixed Deposit and Recurring Deposit products in the range of 5.5% to 8% which is higher than the average rate of interest offered by most banks. The savings bank account is being offered with full range of benefits like accessing multiple channels such as biometric ATMs, RuPay debit card, phone, internet & mobile banking at the market interest rate of 4%.
Ujjivan SFB’s goal is to build a leading state of the art mass market retail bank in five years to serve the vast unserved & underserved customer base who currently are outside the formal banking system.
Ujjivan SFB branches have been specifically designed to be customer friendly with the philosophy of ‘always assisted’. The bank will be inviting customers on a facilitated guided tour where critical aspects of banking services will be explained and demonstrated.