Suryoday Small Finance Bank Unveils Two New Savings Accounts: Check Details

Suryoday Small Finance Bank unveils two new savings accounts called "Share Your Smile Savings Account" and "Next Gen Savings Account". Share Your Smile Savings Account is a zero-balance savings account that can be linked to your primary Suryoday Bank Savings Account and/or Multiple Fixed Deposit Accounts. The bank has mentioned on its website that "Share your Smile Savings Account - A special account designed to fulfil your need to make a difference to millions of lives by donating to Social Causes that are close to your heart." The Next Gen Savings Account, on the other hand, is a zero-balance account with a slew of benefits.

Suryoday Small Finance Bank Next Gen Savings Account

Individuals above the age of 10 and under the age of 18 are eligible to open a Next Gen Savings Account. This zero balance savings account offers a slew of features, including monthly interest credit, the option to choose your own account number, a lifetime free debit card with a range of offers and discounts, as well as mobile and internet banking facilities. The RuPay Classic Debit Card will have daily ATM transaction limitations of Rs 3,000 and daily POS and E-Commerce transaction restrictions of Rs 2,000. The account can be opened online by submitting the needed KYC documents, such as proof of date of birth (DOB), address proof, ID proof, guardian's PAN card or Form 60, and a recent passport size photograph.

Suryoday Small Finance Bank Share Your Smile Savings Account

This account works in three simple steps: first, the individual must select one or two social causes that are most important to him or her, and then select a percentage of interest contribution that can range from 10% to 100% for automatic monthly transfer from primary savings accounts / multiple FDs to Share Your Smile Savings Account. The individual must then select a frequency, which can be Quarterly, Half-yearly, or Annually, for automatic payment to NGO/s in accordance with the cause/s selected from the Smile Account. This account is available to residents who are new to the bank as well as existing customers.

Suryoday Small Finance Bank Savings Account Interest Rates

Daily Closing Balance Slabs (Domestic/NRE/NRO)	% rate per annum
Up to and including Rs. 1 Lakh	4.00%
Above Rs. 1 Lakh up to & including Rs. 1 crore	6.25%
Above Rs. 1 crore	5.00%
Effective: From January 20, 2022. Source: Bank Website