Latest news with #EquitasSFB
Business Standard
22-07-2025
- Business
- Business Standard
Equitas Small Finance Bank announces new offerings for NRIs
Launches FCNR(B) Deposit and Equitas Explorer Savings Account Equitas Small Finance Bank has announced the launch of its Foreign Currency Non-Resident FCNR(B) Deposit and the Equitas Explorer Savings Accounttwo specialized offerings tailored to meet the evolving financial needs of Non-Resident Indians (NRIs) and seafarers respectively. With over 2,85,454 Indian seafarers and maritime professionals working across international waters (as per the Directorate General of Shipping, 2023) and more than 35.4 million NRIs worldwide, this dual product launch reflects Equitas SFB's commitment to delivering flexible, secure, and tech-enabled banking solutions for India's expanding global workforce. Hedging currency is a fundamental need for most NRIs, and holding savings in dollars is a smart way to preserve and grow wealth across bordersespecially by securing favorable exchange rates. The bank's FCNR (B) Depositcurrently available in USDoffering NRIs a robust wealth management tool designed to grow global earnings with ease. FCNR (B) provides rewarding interest rates, tax-free interest income on earnings in India, and full repatriation of both principal and interest. With no foreign exchange risk, hassle-free renewals, and the ability to maximize FCNR earnings, Equitas FCNR (B) Deposit ensure seamless wealth growth for global customerswithout compromising on convenience, security, or regulatory compliance. The bank has launched the Equitas Explorer Savings Accounta specially designed banking solution for NRIs and Persons of Indian Origin (PIOs) working in foreign shipping companies, merchant navy, and oil rigs. Available in both Non-Resident External (NRE) and Non-Resident Ordinary (NRO) variants, this account caters to the unique needs of seafarers with features such as a International VISA Platinum Debit Card (NRE), Rs 1 crore air accidental death insurance cover, home contents insurance up to ₹2 lakhs against burglary and fire, and mandate holder facility for close resident relatives in India. Customers can also enjoy attractive rates on inward/outward remittances and a 25% discount on annual locker rentals. With a simplified documentation processincluding passport, visa or Continuous Discharge Certificate (CDC), and merchant navy declarationsindividuals can open an Explorer Account by maintaining either an Average Monthly Balance (AMB) of Rs 1 lakh or a Total Relationship Value (TRV) of Rs 10 lakhs.
Yahoo
25-06-2025
- Business
- Yahoo
Equitas SFB, Edelweiss Life Insurance form bancassurance partnership
India's Equitas Small Finance Bank (Equitas SFB) has entered into a new bancassurance partnership with local insurer Edelweiss Life Insurance. The collaboration will enable Equitas SFB's customers to access Edelweiss Life's range of life insurance solutions. Edelweiss Life Insurance chief distribution officer Anup Seth said: 'This partnership strengthens our presence in the southern markets, enabling us to reach more customers with solutions tailored to their dreams and aspirations. 'We are proud to collaborate with a like-minded institution that shares our deep commitment to customer centricity and advisory excellence – values that are at the heart of everything we do.' The partnership aligns with Equitas SFB's multi-product strategy focusing on providing integrated financial solutions. Through this agreement, Equitas SFB and Edelweiss Life Insurance aim to build a strong ecosystem for their customers. Equitas SFB senior president and country head Murali Vaidyanathan said: 'At Equitas, we are committed in building strong partnerships that complements the value we offer to our customers. 'Expanding our range of saving products, we are collaborating with third-party providers to offer insurance coverage to our customers through open market framework. 'Together with Edelweiss Life Insurance, we will provide services that encompass diverse plans ranging from protection, savings, endowment and ULIP [unit linked insurance plans]. We hope this tie-up will offer our customers access to a wide range of financial services that support the financial wellbeing.' "Equitas SFB, Edelweiss Life Insurance form bancassurance partnership" was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
