Equitas Small Finance Bank Revises Interest Rates On Fixed Deposits

Equitas Small Finance Bank has revised its interest rates on fixed deposits of less than Rs 2 Cr. The revised rates take effect on February 7, 2022, and are applicable to domestic, NRE, and NRO deposits. Interest rates are paid out on a quarterly and monthly basis, and they can also be reinvested. The bank is now providing the maximum interest rate of 6.50 percent to the general public and 7.00 percent to senior citizens on deposits maturing in 888 days as a result of the revision.

Equitas Small Finance Bank Fixed Deposit Interest Rates For Regular Customers

The bank is currently giving a 3.50 percent interest rate on domestic/NRE/NRO deposits of less than Rs 2 crore maturing in 7 to 45 days. On deposits maturing in 46 days to 90 days, the general public will now get a 4.00 percent interest rate. On fixed deposits maturing in 91 days to 180 days and 181 days to 270 days, regular customers will now receive interest rates of 4.35 percent and 4.85 percent, respectively.

Non-senior citizens will now get a 5.00 percent and a 6.0 percent interest rate on term deposits maturing in 271 - 364 days and 1 year to 18 months, respectively. The bank is now offering interest rates of 6.25 percent and 6.35 percent on deposits maturing in 18 months, 1 day to 2 years, and 2 years, 1 day to 887 days.

Fixed deposits maturing in 888 days and 889 days to 3 years will now offer 6.50 percent and 6.35 percent interest to the general public, respectively. Non-senior citizens will now get a 6.00 percent interest rate on deposits maturing in three years and one day to ten years.

Tenure	Interest rates per annum w.e.f 7th Feb 2022
7 - 14 days	3.50%
15 - 29 days	3.50%
30 - 45 days	3.50%
46 - 62 days	4.00%
63 - 90 days	4.00%
91 - 120 days	4.35%
121 - 180 days	4.35%
181 - 210 days	4.85%
211 - 270 days	4.85%
271 - 364 days	5.00%
1 year to 18 months	6.00%
18 months 1 day to 2 years	6.25%
2 years 1 day to 887 days	6.35%
888 days	6.50%
889 days to 3 years	6.35%
3 years 1 day to 4 years	6.00%
4 years 1 day to 5 years	6.00%
5 years 1 day to 10 years	6.00%
Source: Bank Website

Equitas Small Finance Bank Fixed Deposit Interest Rates For Senior Citizens

Senior citizens will continue to get a 0.50 percent additional premium on their deposits across all tenors. The bank is now giving older folks the interest rates stated below.

Tenure	Interest rates per annum w.e.f 7th Feb 2022
7 - 14 days	4.00%
15 - 29 days	4.00%
30 - 45 days	4.00%
46 - 62 days	4.50%
63 - 90 days	4.50%
91 - 120 days	4.85%
121 - 180 days	4.85%
181 - 210 days	5.35%
211 - 270 days	5.35%
271 - 364 days	5.50%
1 year to 18 months	6.50%
18 months 1 day to 2 years	6.75%
2 years 1 day to 887 days	6.85%
888 days	7.00%
889 days to 3 years	6.85%
3 years 1 day to 4 years	6.50%
4 years 1 day to 5 years	6.50%
5 years 1 day to 10 years	6.50%
Source: Bank Website

Equitas Small Finance Bank Recurring Deposit Interest Rates

Recurring deposits can be established with a monthly contribution of Rs 1000/- for a period of 12 to 120 months at Equitas SFB. On February 7, 2022, the bank changed the interest rates on these deposits, and the new rates are as follows.

Tenure	Interest rates p.a. for amount less than Rs. 2 crore w.e.f 7th Feb, 2022
12 Months	6.00%
15 Months	6.00%
18 Months	6.00%
21 Months	6.25%
24 Months	6.25%
30 Months	6.35%
36 Months	6.35%
48 Months	6.00%
60 Months	6.00%
90 Months	6.00%
120 Months	6.00%
Additional Interest Rate for Resident Senior Citizens	0.50%
Source: Bank Website