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Equitas Small Finance Bank Hikes FD Rates; Senior Citizens Can Get Up To 7.5% p.a

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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.

 
 Equitas Small Finance Bank Hikes FD Rates; Senior Citizens Can Get Up To 7.5%

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.

TenureInterest rates for amount less than Rs. 2 crore w.e.f 27th June 2022Annualised Yield
7 - 14 days3.50%3.50%
15 - 29 days3.50%3.50%
30 - 45 days3.50%3.50%
46 -62 days4.00%4.00%
63 -90 days4.25%4.25%
91- 120 days4.75%4.75%
121 - 180 days4.75%4.75%
181-210 days5.25%5.32%
211 -270 days5.25%5.32%
271-364 days5.25%5.32%
1year to 18 months6.60%6.77%
18 months 1day to 2 years6.45%6.61%
2 years 1day 887 days6.90%7.08%
888 days7.00%7.19%
889 day to 3 years6.90%7.08%
3 years 1day to 4 years6.00%6.14%
4 years 1day to 5 years6.00%6.14%
5 years 1day to 10 years6.00%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.

GoodReturns.in

Story first published: Monday, June 27, 2022, 20:26 [IST]
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