19-Jul-2018 9 Month ago

Jana Small Finance Bank to launch 2-wheeler loan products next year

Jana Small Finance Bank, the newly launched entity in the small finance banking space, is planning to enter into consumer durables and two-wheeler loan segments next year after starting operations with agri, individual and business loan offerings.

The company, which officially launched its operations on March 28 this year after receiving small finance banking licence in April, 2017, is also hopeful of increasing its total loan book size to around Rs 100 billion by the end of this financial year from Rs 76 billion reported in FY18.

"We will be designing products as per the demand that we see in the market place. Currently, our loan products include agri, individual and business loans. We see sound demand for affordable housing loans, which we will launch next month," said Ajay Kanwal, chief executive officer of Jana Small Finance Bank.

Currently, the bank is focusing on building up its current account, savings account (CASA) base to fund its business growth. The bank Wednesday launched fixed deposits products offering 8.5 per cent interest rate to customers and 9.1 per cent for senior citizens as introductory offer.