Equitas Small Finance Bank (Equitas SFB) on Thursday said it has become the first SFB to offer its NRI customer segment the ease of account opening online. The bank will also be the only one in the SFB space to have virtual relationship managers based on time zones, it claimed. The online process of account opening for NRIs can be done via smart phone or computer connected to internet. Applicants will to courier documents within 90 days after account opening.
With this move, Equitas SFB is increasing opportunities for its NRI account holders to manage their investments, deposits and income earned in India. The Equitas net banking would also facilitate investment in mutual funds and portfolio management services for NRI account holders.
Through banking alliances, Equitas SFB also offers online and offline remittance facilities to its NRI customers at the best exchange rates, thereby making it easier and beneficial to transfer their overseas earnings to India seamlessly.
Equitas SFB offers interest rates at 6.8% per annum on fixed deposits and 7% per annum on SB balances between Rs 1 lakh and Rs 2 crore for NRI accounts.