• Suryoday SFB Launches its first Branch in Mysore.    
  • Offers one of the most competitive deposit rates in the industry. Currently, a   savings account can get an interest rate of up to 7.25%, and on an FD, the customer can earn up to 9% interest rate. For senior citizens, the interest rate offered is 9.5%
  • SSFB has a deposit base of Rs. 1,206 crs. The gross loan portfolio is Rs. 2,612 crs, with a YOY growth of over 84%.

Mysore, 15th February 2019: Suryoday Small Finance Bank (SSFB), one of the fastest growing small finance banks today announced the commencement of its banking operations in Mysore by launching its first bank branch. The branch was inaugurated by the Maharaja of Mysore, H.H Sri Yaduveer Krishnadatta Chamaraja Wadiyar

Speaking on the occasion, Mr. Baskar Babu – MD & CEO, Suryoday Small Finance Bank said, “We are grateful to His Highness Sri Yaduveer Krishnadatta Chamaraja Wadiyar, The Royal Household, Mysore for inaugurating our first branch at Mysore this morning.

With the launch of this branch we look to further strengthen our existing presence in Karnataka state which is a strong forte for the bank. Strategically our focus will be on ensuring financial inclusion of the unbanked and the underbanked”.

He further added “Having successfully completed 2 years of operations as a Small Finance Bank, we plan to continue building a healthy book, and generate wealth for our customers by passing on one the most competitive and highest interest rates on deposits. The same is achieved through a model with low operating costs and passing on the benefits to the customers, which as a practice we would like to continue from our end.

Suryoday Small Finance bank offers one of the most competitive deposit rates in the industry. Currently, a savings account can get an interest rate of up to 7.25%, whereas, on fixed deposits, the customer can earn up to 9% interest rate.

About Suryoday Small Finance Bank

 Suryoday Small Finance Bank Ltd (previously known as Suryoday Micro Finance Ltd) kick-started its banking operations in January 2017. As on 31st Jan 2019, it has 158 banking outlets across 8 states Maharashtra, Tamil Nadu, Puducherry, Odisha, Gujarat and Madhya Pradesh, Chattisgarh and Karnataka apart from its existing 213 door step banking outlets.

The Bank’s net worth as of January end was 625 Crore Capital Adequacy ratio of 27% and long-term credit rating ‘A’ by ICRA and short-term credit rating ‘A1+’ by CRISIL.

On the liabilities side, SSFB offers CASA, FD, Tax saver FD and RD products with one of the most competitive deposit rates in the industry. Currently a   savings account can get an interest rate of up to 7.25%, whereas for an FD, the customer can earn up to 9% interest rate. For senior citizens, the interest rate offered is 9.5%

The Bank’s website www.suryodaybank.com offers comprehensive details about its products and services.