· Equitas
SFB is back as a sponsor for Chennai Super Kings (“CSK”)
· Equitas SFB becomes the official retail banking partner for the CSK IPL team with effect from August 1, 2020 and offers various product offerings for its customers
Equitas Small Finance
Bank Limited (the “Bank”), the largest small finance bank ("SFB")
in
The Bank becomes the official retail banking partner for the Chennai Super Kings Indian Premier League (IPL) team and offers various product offerings for its customers. The offering includes Video KYC, Higher interest rates on Fixed Deposits than before and Savings Account to name a few.
Mr. Murali Vaidyanathan, President & Country Head - Branch Banking, Liabilities, Product & Wealth, Equitas Small Finance Bank Ltd., said, “Equitas SFB is happy to announce its appointment as official retail banking partner of Chennai Super Kings which is one of the most followed franchisee in the IPL with lot of followers. We believe that becoming an official retail banking partner of Chennai Super Kings gives us an opportunity to reach a larger audience which follows the Indian Premier League. We believe, like the game of cricket which is being followed by people across various ages, the various product offering of Equitas SFB also is equipped to cater to all customer needs.”
Mr. KS Viswanathan, CEO, Chennai Super Kings said “We are delighted to have Equitas Small Finance Bank back as our official retail banking partner and are hopeful of a long and fruitful association.”
Just like the marquee player of Chennai Super Kings, Mr. Mahendra Singh Dhoni who dons the Number 7, similarly the Bank offers its customers with 7.35% interest per annum on FD for 888 days and 0.60% extra for Senior Citizens.
Mr. Murali Vaidhyanathan also adds, “Apart from offering competitive
rates in the industry for customers we have also leveraged smart digital
adoption of tech to free customers from physical contact or visits to branches.
We believe Selfe FD is ideal for 'Do-It-On-My-Own' generation. These products
offers customers to park their idle funds while earning interest”
The Video KYC Process:
· Customer receives
SMS
· Fills form before VKYC
· Customer starts or schedules
· Agent panel is able to see & interact with the customer video
& customer’s location.
· Random questions are asked from the customer on the basis of
below data points :
o DOB
o Mother’s maiden name
o E-mail ID
o Address
· Customer’s Aadhaar details are confirmed during the Video call
· Wet signature is collected from the user by asking the user to
switch the camera from front to rear
· Customers are asked to submit the PAN card through the rear
camera. The process can be extended to additional images to be collected.
· In real time, text is extracted from the PAN Card.
· Facial recognition is done on the image in the document with the
image in the video.
· Agent/Maker gives a final verdict depending on the individual
activities.
· The checker(s) can access this transaction by logging in their
panel which will list all the available transactions.
· Checker & Reviewer is able to see all the documents including
the video recording & captured data in both textual & visual format
(also in PDF format)
· Checker does a concurrent audit of the whole process &
accepts the application to move forward with the customer.
· Rejection can be turned into a retry SMS with reason for
rejection.
Requirements for Video
KYC
· Aadhaar number
and PAN Card
· Uninterrupted data connectivity
· Ample light & a clear background
· Clear view of the customer’s face
The Bank offers various Fixed Deposit products to
its customers. Apart from the normal FDs the Bank also offers Selfe FD which is
available to customers digitally.
The tenure for the FDs are between 7 days to 10
years to suit the requirement of its customers.
FDs booked with Equitas SFB
comes with benefits like:
· Can
be withdrawn anytime providing the liquidity
· Partial pre mature withdrawal allowed
· No penalty for pre mature withdrawal above 6 months
· AMB waiver for savings against the fixed deposit maintained
(refer schedule of charges of savings) savings)(NOT APPLICABLE FOR GROUPING)
(FD in lieu of AMB will be applicable subject to the holding pattern of FD and
SB being the same)
· Overdraft against FD available in savings and current account
Bulk rates for FD’s equal to or above Rs. 2 cr will
be as per the daily rates shared by treasury. Premature withdrawal penalty of
1% applicable on FDs closed before 6 months for retail term deposits and no
premature penalty for senior citizens. However, TDS will be deducted as
applicable.
Customers can open Selfe
Fixed Deposit (FD) online for value upto Rs. 90,000/- with the Bank by
keeping their Aadhaar Number and PAN handy; and then booking their FD online;
and enjoying returns upto 7.75%* p.a. for 1 year. Selfe FD, a digital
standalone Insta Fixed Deposit, envisages easy and effortless FD booking from
the comfort of home, transactional convenience packaged by offering UPI VPA
funding from any full-KYC non-Equitas bank account in
(* rates subject to change from time to time. Customer should refer our website, www.equitasbank.com for the latest rates before booking FD)
Equitas Small Finance Bank
Limited is the largest SFB in
As of September 30, 2019, its distribution channels
comprised 853 Banking Outlets and 322 ATMs across 15 states and union
territories in
These include provision of small business loans
comprising loan against property, housing loans, and agriculture loans to
micro-entrepreneurs, microfinance to joint liability groups predominantly
comprising women, used and new commercial vehicle loans to drivers and
micro-entrepreneurs typically engaged in logistics, MSE loans to
proprietorships, and corporate loans. On the liability side, its target
customers comprise mass and mass-affluent individuals to whom the Bank offers
current accounts, salary accounts, savings accounts, and a variety of deposit
accounts. In addition, it also provides non-credit offerings comprising
ATM-cum-debit cards, third party insurance, mutual fund products, and issuance
of FASTags.
Mumbai, August 07, 2020