Equitas Small Finance revises fixed deposit rates. Latest FD interest rates here2 min read . Updated: 28 Oct 2020, 02:03 PM IST
- Equitas Small Finance Bank provides two distinct types of FD schemes - Equitas Fixed Deposit and Equitas Selfie FD
- Equitas Small Finance Bank provides a 60-basis-point higher return to senior citizens
Equitas Small Finance Bank provides an option to open a fixed deposit (FD) for a specific period, ranging from 7 days to 10 years. You can choose any of the tenures offered by the bank according to your convenience. Launched in 2007, Equitas Small Finance Bank provides two distinct types of FD schemes - Equitas Fixed Deposit and Equitas Selfie FD
Equitas Fixed Deposit: This is for individuals who are existing customers of the bank. An account can be opened for a tenure ranging between 7 days and 10 years. FD holders can withdraw prematurely from their account against a penalty of 1%.
Equitas Selfie FD: This FD is for individuals who do not hold an account with the bank. It can be opened instantly with the help of PAN and Aadhaar. It comes with a tenure ranging between a week and a year. Account holders can withdraw from their account prematurely. They have to pay a penalty of 1% in case the amount is withdrawn before 180 days.
For FDs maturing in 7 to 29 days and 30 - 45 days, Equitas Small Finance Bank 3.60% and 4.10% interest respectively. For 46 - 62 days 4.60% and 63 - 90 days 5.60%. For deposits with maturity 91 to 180 days, Equitas Small Finance Bank offers 5.85%. For term deposits maturing in 181-270 days, and 271 - 364 days, the bank gives 6.10 and 6.60% interest. For FDs maturing in 1 year to 2 years, Equitas bank gives 7.10%. For deposits 2 years 1 day to 887 days 7.15%. The highest interest rate offered by the bank for domestic fixed deposits is 7.35% for general public for a tenure of 888 days. FDs maturing in 889 days to 3 years will fetch an interest rate of 7.15%. For FDs maturing in 3 years to 10 years, the bank gives 6.75%. these rates are with effect from 1 June.
Equitas Small Finance Bank FD interest rates for general public
7 - 14 days 3.60%
15 - 29 days 3.60%
30 - 45 days 4.10%
46 - 62 days 4.60%
63 - 90 days 5.60%
91 - 120 days 5.85%
121 - 180 days 5.85%
181 - 210 days 6.10%
211 - 270 days 6.10%
271 - 364 days 6.60%
1 year to 18 months 7.10%
18 months 1 day to 2 years 7.10%
2 years 1 day to 887 days 7.15%
888 days 7.35%
889 days to 3 years 7.15%
3 years 1 day to 4 years 6.75%
4 years 1 day to 5 years 6.75%
5 years 1 day to 10 years 6.75%
Equitas Small Finance Bank FD interest rates for senior citizens
Equitas Small Finance Bank provides a 60-basis-point higher return to senior citizen depositors (not applicable for NRE and NRO accounts), according to its website. The highest interest rate offered by the bank for domestic fixed deposits is 7.95% for senior citizens for a tenure of 888 days. Senior citizens will get an interest rate ranging from 4.20% to 7.95% on deposits maturing in 7 days to 10 years.
Equitas Small Finance Bank is the largest SFB in India in terms of number of banking outlets, and the second-largest SFB in India in terms of AUM and total deposits as of financial year 2019. Initial Public Offer of Equitas Small Finance Bank was subscribed 1.97 times on the final day of the public offering on 22 October.