ESAF Small Finance Bank (SFB) is one of India’s fast-growing small finance banks, known for financial inclusion and customer-friendly products. Many people are searching for information on ESAF account opening online, ESAF FD rates, ESAF credit card, and even how to take a loan from ESAF Bank. In this blog, we cover everything in detail with simple explanations.
Table of Contents
What is the Full Form of ESAF Bank?
The full form of ESAF is Evangelical Social Action Forum. The bank started as a microfinance institution in Kerala and later became a licensed small finance bank in 2017. Its main aim is to bring affordable financial services to people in rural and semi-urban areas.
ESAF Account Opening Online
Opening an account with ESAF Bank has become easier with digital banking. Customers can apply through the ESAF mobile app or the official website.
- You need basic KYC documents (Aadhaar, PAN, and address proof).
- Select from different types of savings accounts like Smart Savings, Women’s Savings, or Student Accounts.
- Higher interest on savings is one of the main attractions for ESAF customers.
ESAF FD Rates 2025
One of the most searched queries is about ESAF FD rates. The bank offers attractive returns on fixed deposits, especially for senior citizens.
- FD rates generally range from 4% to 8.25% depending on tenure.
- Senior citizens enjoy an extra 0.50% interest on deposits.
- Customers can also open Recurring Deposits (RDs) online or offline.
ESAF Credit Card – Is It Available?
Currently, ESAF Bank does not offer a traditional credit card like large commercial banks. However, they provide debit cards, prepaid cards, and RuPay cards for online and offline transactions. For customers looking for credit facilities, ESAF provides personal loans, home loans, and vehicle loans instead of credit cards.
How to Take Loan from ESAF Bank?
Taking a loan from ESAF Bank is simple and quick, especially for existing account holders.
- Types of loans offered: Personal loan, gold loan, housing loan, business loan, vehicle loan, and education loan.
- Steps to apply:
- Visit the nearest ESAF branch or apply via the website.
- Submit KYC documents, income proof, and loan application form.
- Approval usually depends on repayment ability and CIBIL score.
The bank is popular among self-employed individuals and small business owners because of its focus on financial inclusion.
Digital Banking and ESAF Mobile App
The ESAF mobile banking app offers services like balance check, fund transfer, FD management, and debit card hotlisting. However, many customers on Google Play reviews suggest that the app still needs improvements to become more stable and user-friendly.
Customer Feed backs for ESAF Bank
Good things about this bank
Strong offline branch service and staff support
Easy access to FD and deposit services offline
Well-rounded app features when functional
Things which are not good
App rated low (~2.8) on Google Play
Frequent login and security/access issues
App Crashes and failures after updates (e.g., June 2025)
Beat Part of ESAF Bank?
- Higher interest rates on savings and FDs.
- Wide presence in rural and semi-urban India.
- Focus on women, students, and under-served communities.
- Personal touch in branch services.
FAQs About ESAF Bank
Q1. What is the full form of ESAF Bank?
Ans: Evangelical Social Action Forum.
Q2. How can I open an ESAF account online?
Ans: Use the ESAF mobile app or website, upload KYC documents, and choose the desired account type.
Q3. What are ESAF FD rates in 2025?
Ans: Rates range from around 4% to 8.25%, depending on tenure and customer type.
Q4. Does ESAF provide credit cards?
Ans: No credit cards yet, but debit and prepaid cards are available.
Q5. How can I take a loan from ESAF Bank?
Ans: Apply at a branch or online with KYC and income proof. Loans are offered for personal, business, housing, and gold requirements.
Concluson
ESAF Bank is steadily building its place in India’s financial market. From online account opening to competitive FD rates, the bank is working to balance traditional services with digital convenience. While the app experience may need more upgrades, ESAF continues to be a trusted choice for customers who value both returns and personalized banking.