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 3.60% p.a. to 6.65% p.a. for tenures ranging from 7 days to 10 years. 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 6.80% p.a. for the general public for a tenure ranging from 2 years to 3 years. NRI fixed deposit rates fall in the range of 3.60% p.a. to 6.65% 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.2 crore |
|---|---|
| 7 days to 14 days | 3.60% |
| 15 days to 29 days | 3.60% |
| 30 days to 45 days | 3.65% |
| 46 days to 62 days | 4.15% |
| 63 days to 90 days | 4.15% |
| 91 days to 120 days | 4.90% |
| 121 days to 180 days | 4.90% |
| 181 days to 210 days | 5.40% |
| 211 days to 270 days | 5.40% |
| 271 days to 364 days | 5.40% |
| 1 year to 18 months | 6.50% |
| 18 months 1 day to 2 years | 6.40% |
| 2 years 1 day 887 days | 6.65% |
| 888 days | 6.80% |
| 889 days to 3 years | 6.65% |
| 3 years 1 day to 4 years | 6.40% |
| 4 years 1 day to 5 years | 6.40% |
| 5 years 1 day to 10 years | 6.65% |
Note: The rates offered are effective as of 25 January 2021.
| Tenure | Interest rate (p.a.) |
|---|---|
| 1 year to 18 months | 6.50% |
| 18 months 1 day to 2 years | 6.40% |
| 2 years 1 day 887 days | 6.65% |
| 888 days | 6.80% |
| 889 days to 3 years | 6.65% |
| 3 years 1 day to 4 years | 6.40% |
| 4 years 1 day to 5 years | 6.40% |
| 5 years 1 day to 10 years | 6.65% |
Note: These rates are effective from 25 January 2021.
Know more: Small Finance Bank FD Interest Rates 2021
| Tenure | Interest rate (p.a.) |
|---|---|
| 7 days to 14 days | 3.60% |
| 15 days to 29 days | 3.60% |
| 30 days to 45 days | 3.65% |
| 46 days to 62 days | 4.15% |
| 63 days to 90 days | 4.15% |
| 91 days to 120 days | 4.90% |
| 121 days to 180 days | 4.90% |
| 181 days to 210 days | 5.40% |
| 211 days to 270 days | 5.40% |
| 271 days to 364 days | 5.40% |
| 1 year to 18 months | 6.50% |
| 18 months 1 day to 2 years | 6.40% |
| 2 years 1 day 887 days | 6.65% |
| 888 days | 6.80% |
| 889 days to 3 years | 6.65% |
| 3 years 1 day to 4 years | 6.40% |
| 4 years 1 day to 5 years | 6.40% |
| 5 years 1 day to 10 years | 6.65% |
Note: These rates are effective from 25 January 2021.
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.
A fixed deposit is a popular form of investment in the country as it offers guaranteed returns. It is advised to compare interest rates from different banks before selecting a fixed deposit.
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.
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.
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