Best Small Finance Banks 2023

[BiggBoss]

Vote for the Best Small Finance Bank 2023

As the backbone of niche banking services in our communities, Small Finance Banks play a pivotal role in catering to the unique needs of their customers. They are vital in promoting financial inclusion, offering personalized services, and supporting local development. This poll aims to recognize the Small Finance Banks that have excelled in 2023, providing outstanding services and innovative financial solutions.

Criteria:

• Customer Service: Responsiveness, personal attention, and understanding and meeting customer needs.
• Online Services: The effectiveness, ease of use, and feature set of the bank's digital banking platforms, including Internet and mobile services.
• Product Range: The variety and suitability of financial products offered, such as loans, savings accounts, and investment services tailored to small and medium-sized businesses and individual customers.
• Community Impact: The bank's role and effectiveness in supporting local businesses, promoting financial literacy, and contributing to community development.

 

[yobro]

Have experience personally with only 3 of them: Suryoday, AU and Equitas and my pick would be Suryoday for good banking products, rewarding RuPay Platinum debit card

AU is overrated. Yes it's the most well known, biggest market cap & revenues among SFBs, gives good DC & CC offers, but also has hostile CC issuance policy for self-employed, CC application process is disgusting (lead deletion issues, CIBIL enquiry at first step only etc), debit card cashback offers are flawed - have to DEMAND it with proofs only then they give cashback

Customer Service: Suryoday
Online Services: Suryoday
Product range: AU
Community impact: AU

Best overall (from my own experience): Suryoday Small Finance Bank

Do suryoday bank provide zero balance account?

 

[ashwink]

Do suryoday bank provide zero balance account?

Y e s

 

[RAMESH BABU N]

Using AU and Fincare bank.

FinCare is getting merged into AU. After this acquisition, AU will be an unified entity from March 1st, 2024 which will have a much better reach in South India.

 

[yobro]

FinCare is getting merged into AU. After this acquisition, AU will be an unified entity from March 1st, 2024 which will have a much better reach in South India.

I don't think they are going to merge any soon

 

[yobro]

Y e s

How?
Dont say BSBD account

 

[RAMESH BABU N]

I don't think they are going to merge any soon

Both boards decided so long back n date announced. RBI approved it 2-3 months back.

Who are we to think otherwise ? Or, disagree to it.

 

[yobro]

Both boards decided so long back n date announced. RBI approved it 2-3 months back.

Who are we to think otherwise ? Or, disagree to it.

If we check internet it says 1st Feb date of merger.
But no merger has happened till now.

 

[BlueFlash]

FinCare is getting merged into AU. After this acquisition, AU will be an unified entity from March 1st, 2024 which will have a much better reach in South India.

Sire, What happens to customers who have savings account in both the banks, post merger ?

 

[RAMESH BABU N]

Sire, What happens to customers who have savings account in both the banks, post merger ?

They will continue to have uninterrupted service. All FinCare logos/cheques/DCs... will continue to work as before till they are replaced by AUB stuff.

This applies for FDs n other banking products. Software n processes will undergo some changes. AUB App/NetBkg will be rolled out to FinCare customers.

 

[praveensudhakaran]

I recently opened an account with Equitas SFB for RD and FD.

They are good with the service. But the only problem is upselling of insurance as investment.

When they offer 8+% for their FDs, they push me to invest in their so called crorepati insurance investments plan - which 6-7% returns.

 

[anonymuos]

Do suryoday bank provide zero balance account?

2K MAB Savings Ujjwal. I opened Savings Supreme (1L MAB), got RuPay Platinum and downgraded to Savings Ujjwal.

 

[prash1161]

Visited unity sfb they told there's nothing online
Branch sa hi transafeer hoga
🤣🤣🤣🤣

 

[ashwink]

Visited unity sfb they told there's nothing online
Branch sa hi transafeer hoga
🤣🤣🤣🤣

They are living in Ice Age 🤣🤡

 

[prash1161]

They are living in Ice Age 🤣🤡

Even Ponzi skim wale bhi acche sa chala lete
Ye tho bank hokr kuch bhi online nhi

 

[papimann]

Probably they don't know that you are a TF Legend

AU guys are quite moody and they work on As U(Bank) Like Policy

 

[papimann]

Visited unity sfb they told there's nothing online
Branch sa hi transafeer hoga
🤣🤣🤣🤣

use wint wealth for unity because their usp is 9% interest rate FD but no online logic here so better to go via wint wealth route its easy and simple.