Categories: Business

ESAF SFB Launches ‘Rainbow Account’ For Transgender Community

ESAF Small Finance Bank Ltd, launched a ‘Rainbow Savings Account’ for the Transgender community offering a hosted feature including high savings rates and advanced debit card facilities exclusively. In 2015, the Reserve Bank of India directed all the banks to include a separate column ‘Third Gender’ in all their forms and applications.

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Key Points related to ‘Rainbow Savings Account’

  • Trans-friendly bank accounts are the need of the hour, and it is a big step in the modernization of society.
  • ESAF Bank is more than 25 years old with a focus on financial inclusion and its vision is to be India’s leading social bank.
  • It aims to offer equal opportunities through universal financial access and inclusion of livelihood and economic development.
  • The ‘Rainbow Savings account’ scheme provides high-interest rates and advanced debit card facilities.
  • Default credit of interest to the account is one of the major factors of this ‘Rainbow Savings account’ scheme.
  • The Rainbow Savings Account logo events were held in Kerala and were attended by many Transgenders.
Mahesh Kumar

Working as an SEO Manager at Adda247, I bring over 10 years of experience in Search Engine Optimization (SEO) and digital marketing. I specialize in driving organic growth through data-driven strategies, including keyword research, on-page SEO, off-page optimization, and technical SEO. My area of expertise in the EdTech sector, specifically focusing on competitive exams such as Bank, SSC, Railway, UPSC, and various State Government job examinations.

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