• Equitas Small Finance Bank Fixed Deposit

    Equitas Small Finance Bank offers fixed deposit schemes with competitive interest rates and attractive features. Senior citizens are provided 0.50% extra interest on FD schemes. There are varied interest payout options that make it useful for people looking to generate a steady income through the interest on their FDs.

    Types of Equitas Small Finance Bank Fixed Deposits

    The following are the different types of Equitas Small Finance Bank fixed deposits:

    • Domestic Term Deposit
    • Selfie FD
    • NRE Fixed Deposit
    • NRO Fixed Deposit

    Features of the Equitas Small Finance Bank Resident Term Deposit Scheme

    The main features of the Equitas Small Finance Bank resident term deposit scheme are as given below:

    • No penalty on premature withdrawal after 6 months.
    • No penalty on any premature withdrawal for senior citizens for FDs booked after 2 December 2019.
    • Quarterly, monthly, and reinvestment interest payout options.
    • Nomination facility.

    Features of Equitas Small Finance Bank Selfie Fixed Deposit Scheme

    The major features of the Equitas Small Finance Bank Selfie Fixed Deposit scheme are:

    • Deposits from Rs.5,000 to Rs.90,000.
    • Can be opened anytime online in just 3 minutes.
    • No requirement for a savings account with the bank.
    • Investment tenure from one week to one year.
    • No premature withdrawal penalty after 6 months.
    • No premature withdrawal penalty for senior citizens.

    Features of Equitas Small Finance Bank NRE Fixed Deposit Scheme

    The key features of the Equitas Small Finance Bank NRE Fixed Deposit scheme are:

    • Quarterly interest payout and quarterly interest compounding options.
    • Investment tenure from 1 year to 10 years.
    • No penalty for pre-closure of FD.
    • Freely repatriable principle and interest amount balance.
    • Nomination facility.

    Features of Equitas Small Finance Bank NRO Fixed Deposit Scheme

    These are the features of the Equitas Small Finance Bank NRO Fixed Deposit scheme:

    • Average monthly balance charges are waived with deposits above Rs.50,000.
    • Investment tenure from one week up to 10 years.
    • Lower TDS for DTAA deposits for NRIs from countries with Double Taxation Avoidance Agreement with India.
    • Nomination facility.

    Equitas Small Finance Bank Term Deposit Interest Rates

    Equitas Small Finance Bank offers competitive interest rates on domestic, NRO, and NRE fixed deposits. Senior citizens are offered an extra 0.50% rate of interest. Effective from 25 January 2021, the interest rates for deposits below Rs.2 crore range from 3.60% p.a. to 6.80% p.a. for tenures that range from 7 days to 10 years.

    Eligibility Criteria for Equitas Small Finance Fixed Deposit Scheme

    • Equitas Small Finance Bank fixed deposits can be opened by both Indian tax residents and Non-Resident Indians who are above the age of 18.

    Documents Required to Open Equitas Small Finance Bank Fixed Deposit Scheme

    • The documents required are identity proof and address proof such as a valid PAN card and Aadhaar.

    Equitas Small Finance FD Scheme FAQs

    1. Do senior citizens get additional interest rate for NRE and NRO fixed deposits of Equitas Small Finance Bank?

      Senior citizens are not eligible for additional interest rates for NRE and NRP fixed deposits but are eligible for it for the domestic term deposits.

    2. How do I open an FD account with Equitas Small Finance Bank?

      You can open an FD account with Equitas Small Finance Bank by applying online on the bank's official website or by visiting the bank's nearest branch.

    3. What is the minimum amount required to open an Equitas Small Finance Bank NRE or NRO term deposit?

      The minimum amount required to open an NRE or NRO term deposit with Equitas Small Finance Bank is Rs.25,000.

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