Your browser is not supported for the Live Clock Timer, please visit the Support Center for support.

Fincare Small Finance Bank enters Kozhikode 

Fincare Small Finance Bank inaugurated its first banking outlet in Kozhikode,a key city in Kerala.Prime location, ease of access, and totally networked Bank branch –everything is designed to give the customer a superior experience,says Rajeev Yadav,MD and CEO.

 This will be the second branch in Kerala, after Cochin. In the 2 years since launch, the Bank has had significant growth in the Southern states of Tamil Nadu, Karnataka and Andhra Pradesh, in line with the overall strategy of becoming a prominent player in this geography.

Kozhikode is one of the major trading points of Indian spices and one of the biggest economic hubs in Kerala. Service sector dominates the economy of this prosperous city. Kozhikode, with 8% of the state population, makes a contribution of 12% to the State's Income.

Speaking at the launch event,  Rajeev Yadav, MD and CEO, Fincare Small Finance Bank said,“Fincare Small Finance Bank is enthusiastic about customer experience and the launch of this branch is a very significant step for us. Our endeavor is to extend our services and address the banking needs of a variety of customer segments, ranging from Senior Citizens to the young urban professionals.”

He also added “Kozhikode, a major trading hub, has experienced significant leap in small scale industries,giving a boost to the entrepreneurship culture in this district. Fincare Small Finance Bank at Kozhikode aims to deliver a wholesome banking experience to customers. The Branch launch is the result of our goal of being a compliant and customer-oriented Bank. We aim to offer one-stop provider of essential banking needs of the customer. This will be the second branch in Kerala, after Cochin. In the 2 years since launch, the Bank has had significant growth in the Southern states of Tamil Nadu, Karnataka and Andhra Pradesh, in line with the overall strategy of becoming a prominent player in this geography.

The Kozhikode branch of Fincare Small Finance Bank will offer a wide suite of products such as loans against gold, loans against property, affordable housing finance, two-wheeler loans, savings and current account with Sweep in – Sweep out facility besides offering attractive interest rates on all types of deposit products. The Bank also offers Unified Payment Interface (UPI) enabled transactions as part of the service bouquet.

Fincare Small Finance Bank offers attractive interest rate upto 9.5% on fixed deposits Tenure General Public Senior Citizens
Upto 180 days 6.00% 6.50%
181-364 days 7.00% 7.50%
12months – 15months 8.00% 8.50%
15 months 1 day – 18 months 8.25% 8.75%
18 months 1 day – 21 months 8.50% 9.00%
21 months 1 day to 24 months 8.75% 9.25%
24 months 1 day to 36 months 9.00% 9.50%
3 years to 5 years 8.00% 8.50%

Link for interest rates table – https://fincarebank.com/interest-rate
Key metrics of Fincare Small Finance Bank upto March 31, 2019 are as follows:
A. Rs. 3,530 Crore Gross Loan Portfolio with 20% Secured mix (65% y-o-y growth, 56% growth in
microloans, 116% growth in other assets)
B. Rs. 2,043.2 Crore deposits (181% y-o-y growth; with 58% share of retail deposits)
C. 0.3% Net Non-Performing Assets (NPA)
D. Rs. 101.98 crore as Profit after Tax (PAT)
About Fincare Small Finance Bank:
Fincare Small Finance Bank commenced banking operations on the 21st of July 2017, after receiving the
final license from the RBI in May 2017, under Section 22 of the Banking Regulation Act, 1949. Fincare
SFB has been included in the Second Schedule to the Reserve Bank of India Act, 1934 and published in
the Gazette of India dated April 13, 2019. Fincare SFB enables financial inclusion of the underbanked
base of the pyramid, mass retail, and micro & small enterprise segments. It also serves the banking
needs of digitally savvy consumers across metro, urban and semi-urban markets. As of March 2019,
Fincare SFB serves over 15 lakh customers in 12 states and 1 Union Territory.

More News from business

Prayaga Martin to grace the much-awited wedding sequence in “Manampole Mangalyam”

CNM Entertainment Desk  The popular serial of Zee Keralam channel, Manampole Mangalyam is ready to give a visual treat for the audience.The serial will soon air the most awaited wedding ceremony of Meera and Aravind Raja with some great nail-biting twists and turns . The show, which restarted after a break due to the lockdown […]

Anna Ben and Sunny Wayne starrer Malayalam romantic comedy:watch trailer here

  CNM  Movie Reporter Adding to the roaster of diverse and exciting Malayalam films, Amazon Prime Video today announces its latest direct-to-service offering – an unconventional romantic comedy Sara’s starring popular actors Anna Ben and Sunny Wayne. Directed by Jude Anthany Joseph and co-produced by P.K Murali Dharan and Santha Murali, Sara’s is a story of young […]

Crime thriller ‘Cold Case’ ; song Eeran Mukil released

CNM Movie Reporter The murder and mystery witnessed in the trailer of Cold Case has already built high anticipation among film fans for the much-awaited investigative crime thriller. To give a wider glimpse of this riveting plot starring Prithviraj Sukumran and Aditi Balan, Amazon Prime Video today released a promo of a beautiful song , […]

Recent News

Education

IM Kozhikode and India Post come together to release special commemorative postal cover to mark institute Silver Jubilee

September 16, 2021

 Director IIMK also dedicates ‘Gurukul’ learning center and new website to institute stakeholders CNM Education Reporter To mark an epoch-making twenty-five years of the journey of IIM Kozhikode, the country’s premier government B-School, India Post (Department of Posts, Govt. of India) and IIM Kozhikode together released a commemorative ‘Special Cover’, here at the Institute premises […]

IIM Kozhikode climbs two spots to attain career best rank 4 in NIRF 2021 Management Rankings

Mumtaz Begum,CNM Education  Making its Silver Jubilee Year all the more special, IIM Kozhikode has attained rank 4 in the coveted NIRF India Rankings 2021 released today by the Ministry of Education. The National Institutional Ranking Framework (NIRF), introduced by the Ministry of Education since 2015, outlines a methodology to rank institutions across the country, […]

September 9, 2021

NEET UG 2021 admit card released

CNM Education Reporter The National Testing Agency (NTA) has released NEET UG 2021 admit card.The applicants can download their admit cards from: https://neet.nta.nic.in    

September 7, 2021

More News