Neobank Freo partnered with Ichtas Small Finance Bank
Neobank Freo, the first of its kind credit-based, has announced the launch of a zero-balance savings account in association with Ichtas Small Finance Bank. The name of this savings account will be FreyoSave.FreoSave allows customers to make informed financial decisions and strengthen their credit profile in the process. The savings account offered by Ichtis Small Finance Bank offers an interest rate of 7 per cent on balances of Rs 1 lakh and above and also seamless integration with UPI to ease bill payments.
Anuj Kakar, Co-Founder, Freyo, said, “At Freio, we understand how small steps in the right direction can help you save money, spend smarter and build credit health. With the launch of our Freio Savings Account with Ichtas Small Finance Bank, we aim to help our customers take better steps towards their financial independence. We believe that people have the power to analyze their spending patterns and take small steps that can help them build and enhance their credit score with just a little help. Truly all our facilities and solutions under the roof of Freyo are carefully designed to achieve this objective. With this we provide the freedom to the users to spend without any fear. Also provide them extra facility to fulfill all their wishes.
Commenting on the partnership, Vaibhav Joshi, CDO, Bank said, “We believe in being customer first and our philosophy is to provide practicality, convenience and ease to our customers. As we move towards delivering a new age digital banking experience for customers in the small finance space, our association with Freyo with a similar philosophy seems like the right way forward. We are confident that our technology infrastructure will empower the integrated vision of providing a world class consumer first digital banking experience across cities. Neo Banking is an important part of our Digital 2.0 strategy at Ichtas Bank. With Freo’s background and their power to serve a 15 million user base in their lending practices, this partnership will take our banking solutions to newer heights.
