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Equitas Small Finance Bank Hikes FD Rates; Senior Citizens Can Get Up To 7.5% p.a
Equitas Small Finance Bank has hiked FD rates for deposits below Rs. 2 crore. The interest rate has been increased for FD tenure ranging from over 1 year to 3 years. The new rates are applicable from today i.e. June 27, 2022.
Likewise, FDs maintained for a tenure of 7-45 days will continue to fetch 3.5%, while those kept for 46 to 62 days will offer 4%. Fds maturing between 63 days to 90 days offer 4.25%. For other tenures between 91 days to 364 days, FD rates range from 4.75-5.25%.
For other tenures from 1year to 3 years, the bank has hiked FD rates by 0.1-0.15%. Accordingly, the revised rates are given here below in the table.
| Tenure | Interest rates for amount less than Rs. 2 crore w.e.f 27th June 2022 | 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 | 4.25% | 4.25% |
| 91- 120 days | 4.75% | 4.75% |
| 121 - 180 days | 4.75% | 4.75% |
| 181-210 days | 5.25% | 5.32% |
| 211 -270 days | 5.25% | 5.32% |
| 271-364 days | 5.25% | 5.32% |
| 1year to 18 months | 6.60% | 6.77% |
| 18 months 1day to 2 years | 6.45% | 6.61% |
| 2 years 1day 887 days | 6.90% | 7.08% |
| 888 days | 7.00% | 7.19% |
| 889 day to 3 years | 6.90% | 7.08% |
| 3 years 1day to 4 years | 6.00% | 6.14% |
| 4 years 1day to 5 years | 6.00% | 6.14% |
| 5 years 1day to 10 years | 6.00% | 6.14% |
So, resident senior citizens who are given additional 0.5% interest rate can get the highest rate of 7.5% for FDs of 888 days.
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