Yes Bank, the 5th largest bank in India as per the market capital has launched the India’s 1st customizable saving bank account. This feature is designed for the banking customers who are struck with the traditional and regular saving account format. This new saving account format has been empowered with many customizations which are preferable to customers.
As per the statement issued by the Bank, this customizable saving account is the huge contribution which will remove the unnecessary and repeated features which no one requires.
Pralay Mondal, Senior Group President, Retail & Business Banking at Yes Bank says “With the launch of our revolutionary ‘Customizable Savings Account’ we are truly enhancing the customers’ banking experience by giving them the Power to Choose. Recently, Yes Bank also launched a fully-customizable Current Account for its business customers.”
Check out the five major customizable options which Yes Bank will allow are mentioned here.
- The user can choose the option to have Debit Card or Net Banking or both (Why to issue the debit card if there is no usage).
- ATM usage options (Customer can choose how many ATM withdrawals you want in a month)
- Alternatives to minimum balance requirement (this will help the users to choose their own minimum balance)
- Digital Banking products (More details are yet to know)
- Family grouping option (Which is similar to closed-calling group in the telecom sector)
- Providing maximum tax benefits, the new saving account will also give an interest rate of 6% on the savings.
Yes Bank to Help FinTech Startups
Yes Bank has signed to get the partnership with T-Hub to assist and mentor the FinTech startups from India.
This new business accelerator program is now named as ‘Yes Fintech’, and here 12 selected startups will enrol in a 15-week dual destination program at Hyderabad and Mumbai. Yes Bank is now inviting the startups to apply for this program till February 3rd, 2017.
According to the Managing Director of Yes Bank Mr.Rana Kapoor, this new program for accelerating the FinTech startups will help the entrepreneurs to work with the real banking organisation and to create the market-ready products within the less time.
This accelerator program will work with the startups closely, and this includes the financial inclusion, payments, lending, risk management, trade finance, capital markets and Forex.