Suryoday Small Finance Bank is a new age bank that was converted from a micro finance institution having served over a million customers since 2009.
Suryoday Small Finance Bank will endeavour to bring you the best banking solutions. We are a "Bank of Smiles" and our power-packed Smart Saving Solutions - Fixed Deposits and Savings Accounts - are designed to offer you the choicest of benefits to suit your financial requirements.
As always, our focus will continue to be on ensuring the best in class ‘Customer Experience’.
As a bank, we will:
- Continue to offer our existing credit products suite of MFI loans, Vikas Loans, Shopkeeper Loans etc. to new and
current customers.
- Offer digital banking as the key account differentiator to customers using the extensive seeding of Aadhar biometric identification system, NPCI’s payment systems and mobile technologies whilst continuing to explore banking through traditional channels.
- Focus on the unserved and the underserved through innovative banking practices and continue to expand reach in states where we currently don’t have a presence
Save More. Earn More. Smile More.
Suryoday Small Finance Bank will endeavour to bring you the best banking solutions. We are a "Bank of Smiles" and our power-packed Smart Saving Solutions - Fixed Deposits and Savings Accounts - are designed to offer you the choicest of benefits to suit your financial requirements.
As always, our focus will continue to be on ensuring the best in class ‘Customer Experience’.
As a bank, we will:
- Continue to offer our existing credit products suite of MFI loans, Vikas Loans, Shopkeeper Loans etc. to new and
current customers.
- Offer digital banking as the key account differentiator to customers using the extensive seeding of Aadhar biometric identification system, NPCI’s payment systems and mobile technologies whilst continuing to explore banking through traditional channels.
- Focus on the unserved and the underserved through innovative banking practices and continue to expand reach in states where we currently don’t have a presence
Save More. Earn More. Smile More.
Location: India, Maharashtra, Navi Mumbai
Employees: 1001-5000
Phone: +91 1800 266 7711
Total raised: $8.23M
Founded date: 2008
Investors 3
Funding Rounds 1
| Date | Series | Amount | Investors |
| 28.05.2020 | - | $8.23M | Gaja Capit... |
Mentions in press and media 27
| Date | Title | Description |
| 24.10.2024 | Suryoday Small Finance Bank’s net profit dips 10% in Q2FY25 to ₹45 cr | Suryoday Small Finance Bank reported a 10 per cent year-on-year (y-o-y) decline in second quarter (Q2FY25) net profit at ₹45 crore against ₹50 crore in the year ago quarter, with provisions towards bad loans weighing on the bottomline. Net ... |
| 07.10.2024 | Small Finance Banks Seek Relief Amid High Credit-Deposit Ratios | Small finance banks (SFBs) are knocking on the Reserve Bank of India's (RBI) door. They are asking for a break. The reason? Their credit-deposit (CD) ratios have soared past 90%. This is a significant figure. It indicates that these banks a... |
| 06.10.2024 | SFBs knock RBI door as credit-deposit ratio go over 90% | With the credit-deposit ratio going past the 90 per cent mark, small finance banks have sought a relaxation of the existing computational norms set by the Reserve Bank of India. Unlike large universal commercial banks who have CD ratio in t... |
| 20.09.2024 | Banks Innovate to Win Back Depositors in a Shifting Financial Landscape | In the world of finance, change is the only constant. As the stock market dances and cryptocurrencies twirl, banks are feeling the heat. Customers are no longer just savers; they are investors. This shift has prompted banks to rethink their... |
| 19.09.2024 | Banks launch innovative, high-yielding products to prop up deposits | Banks are launching new, innovative deposit schemes which offer higher rate of interest and also resemble capital market instruments like liquid funds and systematic investment planning (SIP) to regain customers lost to equity market. Jana ... |
| 14.08.2024 | Banks offer higher interest rates on savings above set thresholds | The success of some private sector bank in mobilising savings bank (SB) deposits through innovative products and services, including offering higher rate of interest on balances above a certain limit, may prompt other banks to introduce the... |
| 04.08.2024 | The Digital Dilemma: Indian Banks at a Crossroads | In the bustling landscape of Indian banking, a storm brews beneath the surface. The Boston Consulting Group (BCG) recently unveiled a stark reality: Indian banks are lagging in their investment in information technology. This underinvestmen... |
| 02.08.2024 | Underinvestment by Indian Banks in IT has led to outdated core systems: BCG | Underinvestment by Indian Banks in IT has led to outdated core systems that struggle with scalability, flexibility, and resilience, according to Boston Consulting Group (BCG). Indian banks invest significantly less in IT compared to their g... |
| 02.08.2024 | Suryoday SFB reports 47% jump in Q1FY25 net profit at ₹70 crore | Suryoday Small Finance Bank (SSFB) reported a 47 per cent jump in first quarter (Q1FY25) net profit at ₹70 crore against ₹48 crore in the year ago on the back of robust growth in net interest income and non-interest income. Net interest inc... |
| 23.06.2024 | Share of term deposits offering 7% plus interest rate jumps to 64.4% of banks’ total TDs | The share of term deposits (TDs) offering 7 per cent and above interest rate has jumped to 64.4 per cent of banks’ total TDs as at March-end 2024, against 33.7 per cent as at March-end 2023. Also read: Repo rate: Any hasty action will cause... |
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