Ujjivan Small Finance Bank emphasizes on the importance of customers maintaining good credit score

Organises financial counselling sessions at bank branches and centre meetings

30 May 2017, Bengaluru: Ujjivan Small Finance Bank (USFB) has established its presence in Karnataka with 11 branches in the last three months of operations. During this period, Ujjivan SFB has opened over 54,300 customer accounts across its bank branches in Bengaluru and Ramanagara district.

The 11 years of trust earned as Ujjivan along with the exciting bouquet of products, attractive interest rates and doorstep banking services has helped Ujjivan SFB to on-board a large customer base in just three months of commencement of banking services.

Due to the impact of demonetization, Ujjivan SFB is also organising financial counselling sessions for customers at its branches and centre meetings to communicate the importance of maintaining a good credit score and benefits of timely repayments.

Mr Ittira Davis, COO, Ujjivan Small Finance Bank said, “We are pleased to receive a warm response from our customers in the last three months of banking operations. As a part of our expansion plans, we are planning to open 40 branches in Karnataka this financial year including unbanked rural branches. We would be targeting to get more unbanked and underbanked customers of Karnataka into the formal banking system and help them become a part of Digital India. At Ujjivan SFB, we are striving towards making banking more seamless and accessible for our customers using the latest technology.

We are also helping our default customers to understand the importance of clearing their dues and maintaining a good credit score. We are educating customers that their borrowing capacity is based on income and credit score. Continued repayment delays can lead to bad credit history, thereby leading to possibilities of denial of future credit during times of need. We believe that financial literacy is the first step towards financial inclusion in India and we are working towards the same,” added Mr. Davis.

  

At Ujjivan bank meetings (centre meetings), customers have the convenience of using our full range of banking services such as opening an account in 5-7 minutes using biometric authentication on a hand-held device. The device can also be used for opening Fixed Deposit, Recurring Deposit and Money Transfer transactions subject to cash limit of Rs 5000.

Ujjivan SFB branches have been specifically designed to be customer friendly with the philosophy of ‘always assisted’. The bank is inviting customers on facilitated guided tours where critical aspects of banking services are being explained and demonstrated.  

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