Ujjivan has tied up with Corporation Bank in an effort to make savings accessible to its customers. Ujjivan customers at Magadi Road and Chandra Layout branches can now open ‘no-frills’ savings accounts with Corporation Bank. The accounts will operate under the ‘branchless banking’ model where the customer will transact through a Business Correspondent (a unit of the base bank branch) located in the vicinity of the customer’s residence. This initiative will meet customer demand for savings through a convenient, doorstep banking methodology.

Features of the account also include –

         Zero minimum balance ‘no-frills’ savings a/c
         Transactions through a biometric smart card
         Local vernacular prompts for every transaction
         Account to be opened at ZERO cost to the customer

Ujjivan plans to roll this out across branches in the future.

At a recent function commemorating the launch of the 150th unit of Corporation bank’s branchless banking initiative, 5 of Ujjivan’s customers were presented with their biometric smart cards by the Honorable Deputy Governor of RBI, Dr. K.C Chakrabarty, in the presence of the Chairman and Managing Director of Corporation Bank, Mr. J.M Garg .

Ujjivan customer Hemalatha receiving her biometric smart card from Dr. K.C. Chakrabarty, Dy. Governor, RBI