Ujjivan Small Finance Bank surges on introducing Maxima Savings Account, Business Maxima Current Account

Ujjivan Small Finance Bank is currently trading at Rs. 49.28, up by 0.24 points or 0.49% from its previous closing of Rs. 49.04 on the BSE.

The scrip opened at Rs. 48.51 and has touched a high and low of Rs. 49.70 and Rs. 48.51 respectively. So far 590879 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 53.10 on 23-Aug-2023 and a 52 week low of Rs. 21.20 on 26-Sep-2022.

Last one week high and low of the scrip stood at Rs. 50.59 and Rs. 47.45 respectively. The current market cap of the company is Rs. 9619.55 crore.

The promoters holding in the company stood at 73.67%, while Institutions and Non-Institutions held 10.97% and 15.36% respectively.

Ujjivan Small Finance Bank has introduced the Maxima Savings Account and Business Maxima Current Account for the premium customer segment. These new offerings aim to improve the banking experience for both new and existing customers by providing a variety of services and benefits. The products are designed to provide customers with various benefits, superior features, and a premium experience to meet their various financial and banking needs.

The annual interest rate on the Maxima Savings Account is up to 7.5%, one of the highest in the industry, and customers can open the account with Rs 1 lakh. Customers also have the flexibility to maintain Rs 15 lakh or more in fixed deposits to meet the balance eligibility criteria of the Maxima Savings Account, an option not available with other standard savings accounts. Other exciting services offered by Maxima Savings Account include higher transaction limits, Free cheque & DD Issuances, Free transactions across all channels, and unlimited cash deposits and withdrawals at any branch. A Complimentary Health Prime Benefit is also offered with the Maxima Savings Account to applicable customers.

Business Maxima Current Account provides businesses and entrepreneurs with a comprehensive suite of services designed to meet their unique needs. It features convenient online banking, instant fund transfers, and cash management options. Notable features include the ability for businesses to define their own cash deposit limit, a higher daily ATM withdrawal limit of Rs 5 lakh per day, the provision of beyond banking services such as account services for merchants, and free installation and rental fees for POS services.

Ujjivan Small Finance Bank (USFB) offers small finance to underserved & unserved segments in India. The bank aims to work for the financial inclusion of the country.