Which are the small finance banks in India?

Which is best small finance bank in India?

Here are the top 10 small finance banks in India that offer competitive interest rates for fixed deposits:

  • Ujjivan Small Finance Bank.
  • Jana Small Finance Bank.
  • Equitas Small Finance Bank.
  • AU Small Finance Bank.
  • Capital Small Finance Bank.
  • Fincare Small Finance Bank.
  • ESAF Small Finance Bank.
  • North East Small Finance Bank.

What are small finance banks?

Small Finance Banks is a specific segment of banking created by RBI under the guidance of Government of India with an objective of furthering financial inclusion by primarily undertaking basic banking activities to un-served and underserved sections including small business units, small and marginal farmers, micro and

What is small finance bank example?

These Banks require a minimum capital of ₹ 500 Cr. Examples of Small Finance Banks: Ujjivan Small Finance Bank, Jana Small Finance Bank, etc. Examples of Commercial Bank: All Public and Private sector Banks, like SBI, PNB, Axis Bank, ICICI Bank, and HDFC Bank, etc.

What is a small finance bank name any five?

History

Sl.No. Original licensee/promoter Bank name
1 Ujjivan Financial Services Pvt Ltd Ujjivan Small Finance Bank
2 Janalakshmi Financial Services Pvt Ltd Jana Small Finance Bank
3 Equitas Holdings Pvt Ltd Equitas Small Finance Bank
4 Au Financiers India Ltd AU Small Finance Bank
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Which small bank gives highest FD rates?

Small Finance Bank FD Rates

Bank FD Rate of Interest Tenure
Ujjivan Small Finance Bank 2.90 – 6.50% 7 days to 10 years
ESAF Small Finance Bank 4.00 – 6.25% 7 days to 3653 days
AU Small Finance Bank 3.50 – 6.00% 7 days to 120 months
Equitas Small Finance Bank 3.50 – 6.00% 7 days to 10 years

Is small finance bank safe?

There are two major types of private banks – universal banks and small finance banks. Small finance banks generally offer a higher interest rate as compared to the universal banks. Thus, guided and regulated by RBI, it is pretty safe to invest in FDs offered by private and small finance banks.

Is Jana small finance bank safe?

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

What are small finance banks RBI?

The small finance bank, in furtherance of the objectives for which it is set up, shall primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganised sector …

Who can open small finance bank?

Resident individuals/professionals with 10 years of experience in banking and finance; and Companies and Societies owned and controlled by residents will be eligible as promoters to set up small finance banks.

What is difference between small finance bank and bank?

The main difference between Commercial Bank and Small Finance Bank is there is no limit for the capital acquired by a Commercial Bank whereas Small Finance Bank should pay up a minimum capital of hundred crores.

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