Launched in 2007, Equitas Small Finance Bank offers microfinance services. The bank offers domestic, NRI, and NRO fixed deposits. The small finance bank offers interest rates for fixed deposits in the range of 3.50% p.a. to 8.50% p.a. for tenures ranging from 7 days to 10 years.
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Senior citizens get an additional interest rate of 0.50% p.a. across all tenures. The highest interest rate offered by the bank for domestic fixed deposits is 8.50% p.a. for the general public for a tenure of 888 days. NRE fixed deposit rates also fall in the range of 7.25% p.a. to 8.50% p.a. for tenures ranging from 1 year to 10 years.
Interest rates for domestic fixed deposit are as follows:
Tenure | Interest rates for amount less than Rs 3 crores (p.a.) |
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 (365 days) | 8.20% |
1 year 1 day | 8.00% |
1 year 2 days 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 | 8.25% |
889 days 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% |
Note: The rates offered are effective as of 12 June 2024.
Tenure | Interest rates for amount less than Rs 2 crores |
1 year 1 day | 8.00% |
1 year 2 days 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 | 8.25% |
889 days 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% |
Note: These rates are effective from 12 June 2024.
Tenure | Interest rates for amount less than Rs 2 crores |
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 (365 days) | 8.20% |
1 year 1 day | 8.00% |
1 year 2 days 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 | 8.25% |
889 days 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% |
Note: The rates offered are effective as of 12 June 2024.
You can book a fixed deposit with Equitas Small Finance Bank via internet and mobile banking. You can even visit the nearest branch of the bank to open an FD.
Existing and new customers can open an FD in the bank.
In order to open a fixed deposit, you will need to complete the KYC norms with the bank. You can submit your PAN or Aadhaar as proof of identification.
If you open an FD account without submitting your PAN, then Tax Deducted at Source (TDS) will be deducted at the rate of 20% instead of 10%. You will not receive the TDS credit from the IT Department, and no TDS Certificate will be issued to you.
Yes, you can open an FD account in the name of a minor.
No, it will not be possible for you to change your existing tenure of your FD account with Equitas Small Finance Bank. However, once your account has attained maturity, and you wish to renew it, you can then choose a tenure of your choice.
No, your deposit amount will be fixed for the tenure chosen by you. You cannot deposit less or more than the deposit amount you have chosen. For example, if you deposit Rs.1,000 on a monthly basis, you can deposit more than Rs.1,000 or less than the said amount.
No, you will not be required to pay any fee if you wish to open an FD account with Equitas Small Finance Bank.
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