PSBs target healthcare, housing to boost deposits with new lucrative deals | Banking

Public sector banks (PSBs) are now venturing into less explored sectors such as healthcare and housing societies and are planning to offer more lucrative deals with salaried accounts and women’s accounts to increase deposit growth.

Business Standard spoke to four senior bankers from state-owned banks who spoke on the condition of anonymity.

“To enhance deposits, we have started exploring sectors like healthcare and housing societies, which were previously unexplored, to boost deposit growth. Many banks, including ours, have introduced fixed deposit (FD) schemes such as the 444-day FD with attractive rates, which are helping us increase deposits,” said the