Product Details
Bank Name
Suryoday Small Finance Bank
Account Name
Espire Lite
Account Type
Saving
Interest Rate
Up to and including Rs. 1 Lakh: 3.00%
Above Rs. 1 Lakh up to & including Rs. 5 Lakh: 5.00%
Above Rs. 5 Lakh up to & including Rs. 10 Lakh: 7.25%
Above Rs. 10 Lakh up to & including Rs 2 Crore: 7.50%
Free Debit Card
Yes, RuPay International Debit Card.
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Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
Averag monthly balance of 7,50,000 per month or total relationship value of ₹30,00,000
Debit Card Charges
Nil
NEFT Charges
Unlimited free via Net Banking/Mobile Banking.
IMPS Charges
Nil
Fees and Charges
Espire Lite
Special Features
Free debit card.
Eligibility Criteria
Resident individual (single or joint Holders) or Hindu undivided family or minor under-appointed guardian can open the account.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
No charges on IMPS transactions.
Unlimited free transactions on other bank ATMs in India.
No IMPS and NEFT transaction fee.
Year-round offers across categories: Lounge access, Insurance, Concierge services, Golf, GYM, Health, OTT and Spa services.
Cons
High annual maintenance balance.
Bank has limited branch and ATM network.
Suryoday Small Finance Bank Espire Lite
The account comes with high interest rate. The account offers a number of value add feature such as free premium debit card, free NEFT and IMPS transfer, unlimited free transaction on other bank ATMs. Overall it is a good account. Only con is that the bank has limited ATM and branch network.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Account Opening and Procedure
How to open an Account?
Visit a Suryoday Bank Branch: Go to your nearest branch and inform the bank representative about your interest in opening a Espire Lite Account.
Submit Application: Fill out the necessary application form and submit it to the bank.
Provide Required Documents: You'll need to provide the following documents:Proof of Identity: PAN Card, Aadhaar Card, Voter ID, Passport, or Driving License
Proof of Address: Passport, Aadhaar Card, Voter ID, Driving License, or Utility Bill
Photographs: Two recent passport-sized photographs
Initial Deposit: You may be required to make an initial deposit to open the account. The minimum deposit amount may vary, so inquire at the branch.