Launches ‘Ujjivan Senior Citizen Account’
Ujjivan Small Finance Bank launches ‘Ujjivan Senior Citizen Account’
Bangalore, December 11, 2017: Ujjivan Small Finance Bank Limited, a wholly-owned subsidiary of Ujjivan Financial Services Ltd. today announced the national launch of its unique and customized Senior Citizen product across 11 key markets - Mumbai, Delhi, Bangalore, Pune, Kolkata, Mysore, Pondicherry, Kochi, Haridwar, Ahmedabad and Baroda.
‘Ujjivan Senior Citizen Account’ is packed with unique features for Senior Citizens such as Doorstep Banking, priority service, personal assistance and more to provide them with a seamless banking experience.
Senior Citizens can now opt for doorstep banking service for opening a Savings account and Fixed Deposit. In the event of a Senior Citizen visiting a branch, they do not have to stand in a queue & face long waiting hours. Ujjivan SFB will offer them immediate consultation and personal assistance at all times.
Understanding the complexities Senior Citizens go through in comprehending various bank processes, Ujjivan has designed a Special Life Events module in this product which will help them manage life impacting situations like migration, illness, loss of family member etc. In such situations, Ujjivan SFB will provide handholding and guidance to customers with
minimum paperwork and a dedicated staff who will assist them in a hassle-free banking experience.
To make the product competitive, Ujjivan Senior Citizen Account is offering an attractive interest rate of 8.5% p.a. on Fixed deposits less than 1 crore for 1-2 years. This is currently one of the most attractive & competitive interest rates being offered in the industry.
Speaking on the occasion, Mr. Samit Ghosh, MD & CEO, Ujjivan Small Finance Bank Ltd. said “We are pleased to launch the Senior Citizen Product across 11 cities today, which will soon be expanded to other markets as well. As a Small Finance Bank, we will continue to expand our product offerings to meet the customized needs of our target customer segments. The banking needs and preferences of Senior Citizens differ from other age groups as they need significant handholding, which our product has been designed to do. We sincerely hope that our bouquet of banking solutions and privileges designed will enable Senior Citizens to take full advantage of this product and service.”
Mr. Vijay Balakrishnan, Chief Marketing Officer, Ujjivan Small Finance Bank Ltd. added, “Ujjivan SFB conducted customized research and ran a pilot programme to understand what the key requirements from this specific segment were. This product is a direct offshoot of the need and gap analysis which emerged from the research. The product will be marketed using a multi-media campaign expected to break out in the next few weeks so that there can be widespread awareness about Ujjivan Senior Citizen Account in our target customer segment.”
Ujjivan Senior Citizen Account has key additional features:
Ujjivan Small Finance Bank (Ujjivan SFB) started its banking operations in February 2017 with pilot branches in Bangalore. Today, with 115+ branches, Ujjivan SFB has established its presence across 20 States and Union Territories.
Ujjivan SFB’s goal is to build a leading state of the art mass market bank in five years to serve the vast un-served and under-served customer base who currently are outside the formal banking system.
About Ujjivan Small Finance Bank Limited
Ujjivan Small Finance Bank Limited is a wholly owned subsidiary of Ujjivan Financial Services Ltd. The bank commenced operations as a Small Finance Bank with effect from February 1, 2017 post transfer of business undertaking by Ujjivan Financial Services Ltd. The Reserve Bank has issued a licence to the bank under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of small finance bank in India. Ujjivan Small Finance Bank Ltd. is also included in the Second Schedule to the Reserve Bank of India Act, 1934.
For further information, please contact:
Asha Gopal
asha.gopal[at]ujjivan[dot]com
+91 80 40712121
