BackThis SFB revises fixed deposit interest rates and now promises up to 7.25%
The interest rates on fixed deposits below ₹2 crore have been revised by Equitas Small Finance Bank (SFB)
PremiumThe interest rates on fixed deposits below ₹2 crore have been revised by Equitas Small Finance Bank (SFB). According to the bank's official website, the new interest rates are in effect as of today, September 8th, 2022. Following the revision, the bank is now guaranteeing an interest rate on fixed deposits maturing in 7 days to 10 years that range from 3.50% to 6.00% for the general public and 4% to 6.50% for senior citizens. As a result of the introduction of the new interest rate, customers of Equitas SFB who have fixed deposits will now receive a maximum interest rate of 7.25% on fixed deposits maturing in 888 days.
Equitas Small Finance Bank FD Rates
On fixed deposits maturing in 7 days to 45 days the bank is now offering an interest rate of 3.50% and on fixed deposits maturing in 46 - 62 days Equitas Small Finance Bank will now promise an interest rate of 4.00%. Fixed deposits maturing in 63 - 90 days will now fetch an interest rate of 4.25% and term deposits maturing in 91 - 180 days will now fetch an interest rate of 4.75%.
The bank is now promising an interest rate of 5.25% on fixed deposits maturing in 181 - 364 days and Equitas Small Finance Bank will now provide an interest rate of 6.75% on fixed deposits maturing in 1 year to 2 years. The bank will now promise an interest rate of 7.00% for fixed deposits maturing in 2 years, 1 day to 887 days, and a maximum interest rate of 7.25% for term deposits maturing in 888 days.
Fixed deposits with maturities between 889 and 3 years will now pay interest at a rate of 7.00%, while term deposits with maturities between 3 and 10 years will now pay interest at a rate of 6%.
Senior citizens will continue to get an additional interest rate of 0.50% or 50 bps over and above the regular rate across all maturity tenors. Following the modification, the bank is now providing senior citizens with excellent FD interest rates up to 7.75% p.a. for 888 days.
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