Ujjivan SFB opens an Unbanked Rural Centre branch in Malayanoor Chekkadi

Business MInutes

Ujjivan Small Finance Bank Limited (Ujjivan SFB) announced the opening of its new Unbanked Rural Centre (URC) in Malayanoor Chekkadi, a village located in the Tiruvannamalai district of Tamil Nadu. The Bank currently serves over 11 lakh customers in Tamil Nadu, and this strategic expansion aims to serve the diverse and growing financial needs of the people in this region.

The opening of this URC in Malayanoor Chekkadi will further facilitate personalised banking services, including Term Deposits & Savings Account at attractive interest rates, as well as Current Account solutions. The launch of the new branch aims to offer a hassle-free banking experience, eliminating the need for extensive travel, for banking needs.

Ujjivan SFB offers Agriculture and Crop Loans starting from Rs. 26,000 to Rs. 25 lakh, Affordable Housing Loan ranging from Rs. 2 lakh to Rs. 75 lakh for individuals looking to purchase/construct their dream home, as well as individual loans from ₹35,000 to ₹3 lakh, Business Loans for Micro, Small and Medium Enterprises ranging from Rs. 3 lakh to Rs. 10 crore.

Further, the Bank has two unique products: Sampoorna Nidhi, a fixed deposit with a monthly interest payout option, and Sampoorna Lakshya, a savings product tailored for specific financial goals. Ujjivan SFB provides highly competitive interest rates, such as 8.25% on fixed deposits for durations of 365 days and 560 days (80 weeks), and 8.75% for senior citizens for the same tenure.

Speaking on the launch, Mr. Ittira Davis, MD & CEO, Ujjivan SFB, said, “We are delighted to announce the opening of our URC branch in Malayanoor Chekkadi in Tamil Nadu. This step aligns with our mission to be a leading mass-market Bank, bringing convenience and accessibility, through financial and digital inclusion, to the unserved and underserved customers.”


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