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.

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

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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