Equitas Small Finance Bank on Monday introduced a savings plan that could give users returns of up to 9%.
What Happened? the small finance bank launched a revised tenure and interest rates for fixed deposits in domestic and non-residential external (NRE)/ non-residential ordinary (NRO) accounts starting from June 5.
The lender’s new tenure of 444 days offers an interest rate of 8.5% for deposits below ₹2 crore.
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Both domestic and NRE/NRO account holders can benefit from this new slab, while domestic senior citizens will receive an additional 0.50% interest on fixed and recurring deposit rates, taking their effective interest rate to 9%.
Equitas Bank Interest Rates: Here are the small finance bank’s fixed deposit rates for sums under ₹2 crore:
| 7 – 14 days | 3.50% |
| 15 – 29 days | 3.50% |
| 30 – 45 days | 4.00% |
| 46 – 62 days | 4.50% |
| 63 – 90 days | 4.50% |
| 91 – 120 days | 5.25% |
| 121 – 180 days | 5.25% |
| 181 – 210 days | 6.25% |
| 211 – 270 days | 6.25% |
| 271 – 364 days | 6.25% |
| 1 year to 443 Days | 8.20% |
| 444 days | 8.50% |
| 445 days to 18 months | 8.20% |
| 18 months 1 day to 2 years | 7.75% |
| 2 years 1 day to 887 days | 8.00% |
| 888 days | 8.50% |
| 889 day to 3 years | 8.00% |
| 3 years 1 day to 4 years | 7.50% |
| 4 years 1 day to 5 years | 7.25% |
| 5 years 1 day to 10 years | 7.25% |
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