Suryoday Bank launches Premium Savings Account with health and wellness benefits

Chennai, 2021: Suryoday Small Finance Bank (SSFB) has launched “Suryoday Health and Wellness Savings Account”, a premium savings account product, to ensure that customers’ wealth not only grows but they and their families are also taken care of on the health front in the backdrop of the COVID-19 pandemic.

Besides offering an attractive interest rate, the new savings account also offers three benefits for a family of four (self, spouse and two children) — top-up health insurance of Rs 25 lakhs,  annual healthcare package and on-call emergency ambulance medical care Services.

Top-up health insurance and healthcare package are free of charge for one year after opening the account. Free Ambulance service up to a distance of 20 Kms will be available at 102 locations across the country till March-end 2022.

A resident individual (18 years to 65 years) can open the “Suryoday Health and Wellness Savings Account” either singly or jointly. The criteria for opening the “Suryoday Health and Wellness Savings Account” include maintenance of average monthly balance of Rs 3 lakhs and being eligible as per the key health declaration form.

R Baskar Babu , MD & CEO, Suryoday Small Finance Bank, said: “Treatment for medical emergencies, can set one back financially. Hence, we decided to introduce “Suryoday Health and Wellness Savings Account” to cushion this impact. We want to be a part of holistic financial & health planning for the entire family, so that not only their wealth grows but we also ensure that they don’t go out-of-pocket in case of medical emergencies.

Some of the features of the new product include a “Platinum” RuPay Secure Chip Debit Card variant, daily ATM withdrawal limit of Rs 1.50 lakh, daily POS usage limit (value of transaction) of Rs 3 lakh. Existing Saving Account customers can upgrade to the Health andWellness Savings Account.

Depending on the balance in the savings account, Suryoday Bank currently offers 4 per cent interest on balance up to Rs 1 lakh, 6.25 per cent on balances above Rs 1 lakh and up to Rs 10 lakhs, and  6 per cent on balances above Rs 10 lakhs.

The Bank has entered into a tie-up with Manipal Cigna Health Insurance for providing top-up health insurance, with Vhealth Aetna for providing   annual healthcare package and with Ziqitza Healthcare for providing ambulance on call services.

About Suryoday Small Finance Bank Limited:

Suryoday Small Finance Bank Limited is a scheduled commercial bank. Commencing its operations as an NBFC and for over a decade with a clear focus on serving customers in the unbanked and underbanked segments and promoting financial inclusion. Pursuant to receipt of the RBI Final Approval, Suryoday started its operations as an SFB on January 23, 2017.Suryoday is among the leading SFBs in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in Fiscal 2020. The bank has a wide presence across 13 states and UTs across India through its 556 banking outlets, with a strong presence in Maharashtra, Tamilnadu and Odisha. We offer a wide array of services to our customers, through our wide array of asset and liability products, through our multiple delivery channels.

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