Equitas SFB Revises Interest Rates On Savings Account, FD & RD

Equitas Small Finance Bank (SFB) has announced interest rates revision on savings accounts, fixed deposits and recurring deposits. The bank made the adjustment on March 21, 2022, and as a result of the revision, the bank now offers a maximum interest rate of 7% on savings account deposits and a maximum interest rate of 6.75 percent on fixed deposits under Rs 2 crore to the general public.

Equitas Small Finance Bank Savings Account Interest Rates

The bank is giving the following interest rates on savings accounts as of March 21, 2022. These interest rates will be calculated based on the account's daily closing balance, and will be paid quarterly to the account holder.

Daily Closing Balance	Rate Slab
Up to ₹ 1 lakh	3.50%
Above ₹ 1 lakh and upto ₹ 5 lakhs	6.00%
Above ₹ 5 lakhs and upto ₹ 2 crores	7.00%
Above ₹ 2 crores	5.50%
Source: Bank Website. W.e.f. 21st March 2022

Equitas Small Finance Bank FD Interest Rates

The following are the fixed deposit rates (for amounts less than Rs. 2 crores) as of March 21, 2022. After the most recent amendment, the bank currently offers a maximum interest rate of 6.75 percent per year to the general public and 7.25 percent per annum to senior citizens on deposits maturing in 888 days. The bank will continue to pay a 0.50 percent additional for domestic senior citizen rates (not applicable to NRE/NRO) across all tenors.

Tenure	Regular Interest rates for amount less than Rs 2 Cr	Annualised Yield
7 - 14 days	3.50%	3.50%
15 - 29 days	3.50%	3.50%
30 - 45 days	3.50%	3.50%
46 - 62 days	4.00%	4.00%
63 - 90 days	4.00%	4.00%
91 - 120 days	4.35%	4.35%
121 - 180 days	4.35%	4.35%
181 - 210 days	4.85%	4.91%
211 - 270 days	4.85%	4.91%
271 - 364 days	5.00%	5.06%
1 year to 18 months	6.10%	6.24%
18 months 1 day to 2 years	6.50%	6.66%
2 years 1 day to 887 days	6.50%	6.66%
888 days	6.75%	6.92%
889 days to 3 years	6.50%	6.66%
3 years 1 day to 4 years	6.00%	6.14%
4 years 1 day to 5 years	6.00%	6.14%
5 years 1 day to 10 years	6.00%	6.14%
Source: Bank Website. W.e.f. 21st March 2022

Equitas Small Finance Bank RD Interest Rates

Recurring Deposit Rates (amount less than Rs. 2 crores) with effect from 21st March 2022 are as follows. Based on today's adjustment the bank is offering a maximum interest rate of 6.50% to the general public on recurring deposits of less than Rs. 2 crores maturing in 21 Months to 36 months. Senior citizens will continue to get an additional rate of 0.50% over and above the regular rate across all tenors.

Tenure	Regular Interest rates for amount less than Rs 2 Cr
12 months	6.10 %
15 Months	6.10 %
18 Months	6.10 %
21 Months	6.50 %
24 Months	6.50 %
30 Months	6.50 %
36 Months	6.50 %
48 Months	6.00 %
60 Months	6.00 %
90 Months	6.00 %
120 Months	6.00 %
Source: Bank Website. W.e.f. 21st March 2022