- Science & Tech
ESAF Small Finance Bank has launched a social deposit scheme called ‘Hrudaya Deposit’ at a function held in Thrissur.
“The significance of the scheme is that a customer who deposit in it, becomes a part in nation building, as their deposits are used for the welfare and infrastructure development of the marginalized sections of the society”, K. Paul Thomas, Managing Director and CEO, ESAF Small Finance Bank, said.
An individual or a legal entity can join the ‘Hrudaya Deposit’ scheme with a minimum deposit amount of Rs 15 lakh and for a minimum period of two years.
An account can be opened through internet banking or by calling the Relationship Manager. The compound interest will be given in every quarter as per the present rates.
The customer will also have the opportunity to gain first hand experience of how their money is used to improve the lives of the ordinary people in the country.
The ‘Hrudaya Deposit’ scheme envisages the business development of the rural farmers, fishermen, vegetable vendors etc, he added.