Dear reader are you looking to know about ESAF Bank full form ? If yes then you came to right blog/article.
ESAF Bank Full Form refers to Evangelical Social Action Forum Bank. In this article you get to know full details about ESAF Bank. This article is written after referring and reading more than 11 articles related to this subject.
INTRODUCTION TO ESAF BANK
It is a small finance bank that started its operations in March 2017. Previously known as ESAF Microfinance and Investments Pvt Ltd, it began as a non-banking finance company. Headquartered in Thrissur, Kerala, ESAF Bank offers a range of services to its customers. In this article, we will explore the history of ESAF Bank, the services it provides, and its unique deposit scheme called Hrudaya Deposit.
ESAF BANK HISTORY
ESAF originated as an NGO on March 11, 1992, founded by K. Paul Thomas and Mereena Paul. With five life members, seven annual members, and eight honorary members, ESAF became the first microfinance company in Kerala. Over the years, it evolved into a full-fledged bank to better serve its customers.
ESAF BANK SERVICES
ESAF Bank is committed to meeting the financial needs of its customers. It offers a comprehensive range of services, including internet banking, mobile banking, ATMs, debit cards, safe deposit locker facilities, agent banking, SMS banking, RTGS, NEFT, CTS, door-step delivery services, and even free video calling facilities to branches. These services ensure convenience and accessibility for ESAF Bank customers.
ESAF BANK DETAILS
As of March 31, 2022, ESAF Bank has 575 branches across the country. It employs approximately 4,100 individuals dedicated to serving its customers. With a customer base of 5.6 million, ESAF Bank operates in 21 states and 2 union territories, aiming to spread the “Joy of Banking.” These figures highlight the bank’s significant presence and reach.
ESAF Bank stands for Evangelical Social Action Forum. It is a licensed small finance bank in India, authorized by the Reserve Bank of India in 2016. The bank is headquartered in Thrissur, Kerala, and operates in 16 states and 1 union territory, offering a variety of financial products and services to its customers.
ESAF Bank provides a range of accounts and deposit options, including savings accounts, current accounts, fixed deposits, and recurring deposits. These options allow customers to securely manage their money and save for the future.
For those in need of loans or credit, ESAF Bank offers personal loans, business loans, agriculture loans, and microfinance loans. These loan facilities support individuals and businesses in achieving their financial goals.
The bank also offers insurance products to protect customers’ interests, covering areas such as life, health, and property insurance.
ESAF Bank is committed to promoting financial inclusion and reaching out to underserved communities, particularly in rural and semi-urban areas. The bank conducts financial literacy programs and educational initiatives to empower individuals with knowledge about managing their finances effectively.
ESAF Small Finance Bank has received recognition and awards for its contributions to the microfinance sector and its commitment to inclusive growth. These accolades reflect the bank’s dedication to serving the financial needs of marginalized sections of society and promoting economic development at the grassroots level.
HRUDAYA DEPOSIT SCHEME
ESAF Bank introduces the Hrudaya Deposit Scheme, a unique deposit scheme designed to promote social welfare and infrastructure development for marginalized sections of society. Depositors have the opportunity to contribute to these projects by depositing their funds in this scheme. It allows individuals to actively participate in initiatives that have a positive impact on society.
As a trusted financial institution, ESAF Small Finance Bank focuses on empowering underserved communities and promoting financial inclusion in India. With its wide range of products and services, along with its commitment to customer education and support, the bank plays a vital role in driving socioeconomic progress and creating a more financially inclusive society.
CONCLUSION
In conclusion, ESAF Bank, with its full form Evangelical Social Action Forum, has grown from an NGO to a prominent small finance bank. With its wide range of services, extensive branch network, and commitment to social welfare through initiatives like the Hrudaya Deposit Scheme, ESAF Bank continues to make a significant impact. By providing financial solutions and promoting social development, ESAF Bank is dedicated to bringing the joy of banking to its customers.
FAQs
What does ESAF Bank stand for?
ESAF Bank stands for Evangelical Social Action Forum Bank.
 Is ESAF Bank a licensed bank in India?
Yes, ESAF Bank is a licensed small finance bank authorized by the Reserve Bank of India.
Where is the headquarters of ESAF Bank located?
The headquarters of ESAF Bank is in Thrissur, Kerala.
What services does ESAF Bank offer?
ESAF Bank offers a wide range of services, including savings and current accounts, fixed deposits, recurring deposits, loans (personal, business, agriculture, and microfinance), insurance products, and financial inclusion initiatives.
What is the focus of ESAF Bank’s financial inclusion initiatives?
ESAF Bank is committed to reaching out to underserved communities, especially in rural and semi-urban areas. The bank conducts financial literacy programs and educational initiatives to empower individuals with knowledge about financial management.
Has ESAF Bank received any recognition or awards?
Yes, ESAF Bank has received several accolades for its contributions to the microfinance sector and its dedication to promoting inclusive growth. These awards reflect the bank’s commitment to serving marginalized sections of society and supporting economic development at the grassroots level.