Piggy bank
Piggy bank

Equitas Small Finance Bank (SFB) has now become the first small finance bank to offer its NRI customer segment the ease of account opening online. The SFB will be the first in the sector to have virtual relationship managers based on time zones.

Speaking on the occasion, Murali Vaidyanathan, President and Country Head, Branch Banking Liabilities Product & Wealth Equitas Small Finance Bank said, “Digitisation of banking at ESFB has helped to offer the services at the convenience, safety and wellbeing of our customers and employees being our paramount concern. The seamless online process for NRI account opening launched will enable hassle free account opening and help our NRI customers to enjoy the complete banking services with ease and comfort of their country / place of their residence ably supported by a team of VRMs based on the time zone of the customer."

Equitas Small Finance Bank offers interest rates of 6.8 per cent per annum on fixed deposits and 7 per cent per annum on SB balances between Rs 1 lakh to Rs 2 crore for NRI accounts making it an enriching experience.

How will this process work:

- The online process of account opening for NRIs can be done via smartphone or computer connected to internet.

- The applicants will have a span of 90 days to courier documents after account opening.

- This will help NRI account holders to manage their investments, deposits and the income earned in India.

- The Equitas net banking would also facilitate investment in mutual funds and Portfolio Management Services for the NRI account holders.

- Through banking alliances, Equitas Bank also offers online and offline remittance facilities to its NRI customers.

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Free Press Journal