We consider our BC’s as partners who provide us with valuable insights and understandings of the local market and help us serve our target population. By providing our platform and by using technology as an enabler, our BC partners help us deliver most of the services that are offered at a typical bank branch from the BC establishment itself. With this, we promote entrepreneurship and help conclude a large volume of low-value transactions in a viable manner. The revenue generated is shared in a transparent and mutually agreed manner between ESFB and the BC’s.

Each of our BC points is linked to a base branch and perform various banking activities like account opening, cash deposit, cash withdrawal for customers. BC’s also sell products like Fixed Deposits and RD’s to promote thrift in the underserved segment. It is mandatory that our BC’s work exclusively with Equitas Bank and not with any other banks/financial institution.

*Products and Services offered by Equitas are subject to change from time to time. Offering of a product to specific customer is subject to the customer complying with necessary guidelines prevailing at that point in time.

BC’s are not expected to take any favour in cash or kind from the customers and will be compensated by ESFB on the basis of transactions they complete for the customers. We have a completely variable model of remunerating the BC’s where the commissions earned by them will be proportional to the banking services and activities, he/she performs and the loans he/she sources. To clarify, the more banking transactions a BC helps conclude through ESFB, the more that individual BC would earn. The BC’s are expected to always perform activities in the best interest of the customer and in no way manipulate things for his/her self-interest. As per regulatory guidelines, each BC is expected to work for at least 4 hours a day and for 5 days a week. He/she can very well work for longer hours and serve his customers effectively. Each of our BC will be supported by a BC manager.

The marketing expenditures are borne by us and the only investment that the BC is expected to make is upkeep of their premises. For third-party products like insurance and mutual funds, the compensation will be shared between the bank and the BC. The product & service specific commercials will vary from time to time depending on both regulatory and bank policies and guidelines. The sharing ratio will be published to the BC’s up on appointment.

The following categories of well-respected and ethical individuals/ entities can join us in our journey to provide banking services to the last mile of the population and become self-sustainable entrepreneurs.

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