ESAF Small Finance Bank launches social deposit scheme Hrudaya Deposit

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ESAF Small Finance Bank has launched a social deposit scheme called Hrudaya Deposit at a function held in Thrissur.

The deposit scheme, as the name suggests, stands for a social cause, through which, ESAF Bank provides the customers an opportunity to be a part in social welfare projects, which none of the other banks has given so far, said K. Paul Thomas, Managing Director and CEO, ESAF Small Finance Bank.

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, he said.

An individual or a legal entity can join the Hrudaya Deposit Scheme with a minimum deposit amount of ₹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.

[Source :-hindu]