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If you are planning to open a new savings account, then this offer will make you happy. Suryoday Small Finance Bank (SSFB) has announced the launch of “Suryoday Health and Wellness Savings Account”, which offers customers Rs 1.5 lakh daily ATM withdrawal, 6.25% yearly interest and Rs 25 lakh top-up health cover along with other regular facilities. Small finance banks are steadily improving their retail deposits and secured asset portfolios and are constantly coming up with new schemes to increase customer base. Customised product offerings and relatively higher interest rates have helped them bag customers looking for a better banking experience.
Health benefits
The new savings account offers three outstanding health related benefits amid pandemic for a family of four, i.e. self, spouse and two children. The facilities are top-up health insurance cover of Rs 25 lakh, annual healthcare package and on-call emergency ambulance medical care Services.
The top-up health insurance and healthcare package is free of cost for one year after opening the account, bank said in a statement. Also, free Ambulance service up to a distance of 20 kilometres will be available at 102 locations across the country until March next year.
The bank has tied up with Manipal Cigna Health Insurance for providing top-up health insurance and with Vhealth Aetna for providing annual healthcare package and with Ziqitza Healthcare for providing ambulance on-call services.
Banking benefits
Besides the health related facilities, customers will be eligible for a daily ATM withdrawal limit of Rs 1.50 lakh and daily POS transaction limit set at Rs 3 lakh. The bank will also give the premium savings account holder a platinum RuPay Secure Chip debit card absolutely free for lifetime.
To get all this facility a customer need to maintain a minimum monthly balance of Rs 3 lakh. All existing saving account customers of the bank can upgrade to the health and wellness savings account.
“Treatment for medical emergencies can set one back financially. Hence, we decided to introduce Suryoday Health and Wellness Savings Account to cushion this impact. We want to be a part of holistic financial and health planning for the entire family of our customers. Suryoday SFB is the first bank in the country to offer these types of healthcare related facility to the customers,” said R Baskar Babu, MD and CEO, Suryoday Small Finance Bank.
Interest rates
Suryoday Small Finance Bank currently offers 4% interest on balance of up to Rs 1 lakh. It also offers 6.25% for those who maintain a balance between Rs 1 lakh and Rs 10 lakh and 6% on balance above Rs 10 lakh. A customer will earn 6.25% interest if he or she maintains a monthly balance of Rs 3 lakh. This interest rate is the highest across the industry.
Eligibility criteria
A resident individual aged between 18 years and 65 years can open this savings account either singly or jointly.
The bank said that the criteria for opening the “Suryoday Health and Wellness Savings Account” includes maintenance of the average monthly balance of Rs 3 lakh and being eligible as per the health declaration form.