Secure your savings at attractive interest rates with the click of a button
National, 04th September 2023: Fincare Small Finance Bank, a pioneer in innovative banking solutions, is excited to announce the launch of its revolutionary product – Digital Fixed Deposits. Consumers can now open a fixed deposit at attractive rates with Fincare Small Finance Bank at the click of a button.
Fincare’s Digital Fixed Deposits harness the power of technology to deliver a hassle-free and secure investment avenue for customers wherein they no longer need to open a savings account in order to book a digital Fixed Deposit (FD) with the Bank.
This innovative offering is designed to cater to the evolving needs of today’s tech-savvy and convenience-oriented consumers.
Key Features of Fincare Digital Fixed Deposits:
- Digital Convenience: Customers can open and manage their Fixed Deposits through website link. This means no more lengthy paperwork or time-consuming visits to the bank.
- Flexible Tenures: Fincare offers a range of flexible tenures to suit customers’ financial goals, ranging from short-term to long-term options.
- Competitive Interest Rates: The Digital FDs offer attractive interest rates, ensuring that customers’ investments grow steadily over time.
- Instant Account Opening: With simplified digital KYC procedures, customers can open an FD account within minutes, making the entire process swift and efficient.
- Secure and Transparent: Fincare prioritizes the security of customer information and transactions. The digital platform ensures end-to-end encryption and complete transparency.
- Auto-Renewal Option: Customers have the choice to opt for auto-renewal of their FDs, ensuring their investments continue to grow seamlessly.
Mr. Jatinder Mohan Singh Shah, Chief Operating Officer – Business Banking & Digital Consumer Banking at Fincare Small Finance Bank, expressed his excitement about the launch, saying, “Fincare’s Digital Fixed Deposits exemplify our commitment to leveraging technology for our customers’ benefit. This offering aligns perfectly with our ethos of simplifying banking and providing modern solutions to meet the changing preferences of our valued customers.”
Fincare Small Finance Bank’s Digital Fixed Deposits are set to revolutionize the way customers manage their investments. With this innovation, Fincare continues to push the boundaries of traditional banking, ensuring that customers enjoy greater control, convenience, and flexibility over their finances.
Link for Digital FD:- https://101.fincarebank.com/101FD/
As of 31st March 2023, the Bank has a network of 1,231 banking outlets spread across 19 states and three union territories, covering 338 districts and 57,186 villages. The Bank serves 42+ Lakh customers and has a workforce of 14,000+.
About Fincare Small Finance Bank:
Fincare Small Finance Bank is a ‘digital-first’ small finance bank offering banking services through banking outlets, ATM, WhatsApp, Video Banking, Mobile Banking, Internet Banking and website Chatbots. The bank aims to transform banking through automated processes, instant account opening, and seamless transactions. Powered by technology, on one hand, Fincare Small Finance Bank caters to the banking needs of micro enterprises enabling their financial inclusion, and on the other, provides innovative banking services along with digital solutions to metro and urban customers. The Bank commenced banking operations on 21st July 2017 under Section 22 of the Banking Regulation Act, 1949. It was included in the Second Schedule to the RBI Act, 1934 published in the Gazette of India dated April 13, 2019.
For more information, please visit www.fincarebank.com
Fincare Small Finance Bank Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed a draft red herring prospectus dated May 1, 2023 (“DRHP”) filed with the Securities and Exchange Board of India (“SEBI”) on May 3, 2023. The DRHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively, and is available on the websites of the BRLMs, i.e. ICICI Securities Limited, Axis Capital Limited, IIFL Securities Limited, SBI Capital Markets Limited and Ambit Private Limited at www.icicisecurities.com, www.axiscapital.co.in, www.iiflcap.com, www.sbicaps.com and www.ambit.co, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section entitled “Risk Factors” on page 21 of the DRHP. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision.
The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any state securities law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the Securities Act, “Rule 144A”) in transactions exempt from, or not subject to, registration requirements of the Securities Act, and (ii) outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States.
