Equitas Small Finance Bank Savings Account Interest Rates
The bank is giving an interest rate of 3.50% on savings accounts with daily closing balances under ₹1 lakh, and Equitas SFB is offering an interest rate of 5.25% on savings accounts with daily closing balances above ₹1 lakh and up to ₹5 lakhs. An interest rate of 7.00% is being offered on savings accounts by Equitas Small Finance Bank for balances exceeding ₹5 lakhs on a daily closing basis.
“Interest will be calculated on the daily closing balance of the account. Interest will be paid on quarterly basis by direct credit in the savings account. Slabs rates are applicable on the incremental amount based on the closing balance," Equitas Small Finance Bank has mentioned on its website.
Equitas Small Finance Bank FD Rates
The bank is giving an interest rate of 3.50% on deposits maturing in 7 to 29 days, and Equitas SFB is offering an interest rate of 4.00% on deposits maturing in 30 to 45 days. On deposits maturing in 46 to 90 days, Equitas SFB is giving an interest rate of 4.25%, while on deposits maturing in 91 to 180 days, the bank is offering an interest rate of 5.00%. Deposits maturing between 181 and 364 days and between 1 year and 18 months will earn interest at a rate of 6.00% and 7.50%, respectively.
On deposits maturing in 18 months 1 day to 2 years, the bank is offering an interest rate of 7.25% and on those maturing in 2 years 1 day to 887 days, Equitas SFB is offering an interest rate of 7.75%. For deposits maturing in 888 days, Equitas SFB is paying an interest rate of 8.00%, while the bank is offering an interest rate of 7.75% for deposits maturing in 889 days to 3 years. Deposits maturing in 3 years 1 day to 4 years will fetch an interest rate of 7.25% and those maturing in 4 years 1 day to 10 years will fetch an interest rate of 7.00%.
Murali Vaidyanathan, Senior President and Country Head, Equitas Small Finance Bank, said, “We are happy to announce that Equitas customers – existing and new, will earn higher interest rates on Fixed Deposit, Recurring Deposit as well as savings account. Our key agenda is to see people’s money grow when they bank with us, thus we continue to stand strong with our customers by encouraging them to increase the habit of saving and maximize their benefits through hike in interest rates. In fact, to continue the saving drive amongst senior citizens in India, we offer additional 0.5% on their Fixed Deposit and Recurring Deposit which not just suits their requirement of investment but also boosts capital creation. We stand committed to our philosophy of Beyond Banking and welcome our customers to join this transformative journey with Equitas for achieving better growth of the society together."
