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Equitas Small Finance Bank Offers Waiver On Non-Maintenance On S/B A/c

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As a new year gift, new age Equitas Small Finance Bank has waived off non-maintenance charges for all of its savings banks account. At the same it is comparatively lower charges for its transactions.

Equitas Small Finance Bank Offers Waiver On Non-Maintenance On S/B A/c
 

For its bank accounts, the bank is offering interest rate at the rate of 7.5%, while for its fixed deposits the bank offers up to 8.25% rate per annum. For senior citizens, the rate is still higher by 60 basis points.

"We intend to further strengthen our liability franchise with a focus on growing our retail deposit and CASA deposit base to provide us with a stable and low-cost source of funding," said Murali V, President & Country Head, Equitas Small Finance Bank.

As of March 2019, the company deposits grew at a CAGR of 116.51% to Rs. 9006 crore. Also, during the same period its CASA ratio was second highest among small finance banks.

Story first published: Tuesday, January 7, 2020, 19:48 [IST]
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