Equitas SFB RD Rates 2025: Save Smartly

Note : Interest Rate offered by Equitas Small Finance Bank on a recurring deposit account for less than Rs.2 crore effective from 1 July 2025. 

Features and Benefits of Equitas Small Finance Bank RD 

The following are the features and benefits of the recurring deposit scheme offered by the Equitas Small Finance Bank: 

1. Minimum investment amount of Rs.1,000 
2. Offers high returns as fixed deposit with small investment 

1. Provides minimum and maximum tenure of 12 months and 120 months, respectively 
2. Facilitates nomination service 
3. TDS deduction is applicable on interest earned 

How to Open an RD Account in Equitas Small Finance Bank 

A recurring deposit account can be opened in both online and offline mode at Equitas Small Finance Bank.  

Online mode 

Here are the steps to open RD accounts through online mode: 

1. Activate your net banking account by filling in the activation form at the bank branch 
2. Log in to your net banking account at Equitas Small Finance Bank 
3. Select E-Recurring deposit from the menu option 

1. Fill in the form and mention the required details such as amount, tenure, etc. 
2. Check the box for ‘Senior Citizen’ for applicants above 60 years of age 

After successful completion of the procedures, the RD account gets activated and bank credits the amount automatically on the due date. 

Offline mode 

The following are the steps to open Equitas Small Finance Bank RD account through offline mode: 

1. Visit the nearest Equitas Small Finance Bank branch 
2. Fill in the form with required details such as name, age, address, amount, tenure, contact details, etc. 
3. Sign the form  
4. Submit the photo, identity proof, address proof, PAN card along with the RD form 
5. Pay the first installment either by cash, cheque, or net banking 

Once the RD activation is done successfully, the bank provides RD account number along with other documents to the account holder. 

Eligibility Criteria for Equitas Small Finance Bank RD 

The eligibility criteria for opening an RD account at Equitas Small Finance Bank are as follows: 

1. Non-Resident Indian (NRI) 
2. Resident Indian 

1. Hindu Undivided Family (HUF) 
2. Corporations, trusts, societies, clubs, sole proprietorships, partnerships, etc. 
3. Under the guardianship of their parents, minors can also open RD account 

Documents Required for Equitas Small Finance Bank RD 

The following are the documents required to open an RD at Equitas Small Finance Bank: 

1. Proof of address 
2. Proof of identity (anyone): 

• Passport  

• Voter ID card 
• Driving licence 
• Telephone bill or electricity bill 
• Government ID card 
• Photo ration card 
• Senior citizen ID card 

1. PAN card 

1. Bank Statements 
2. Salary Slips (if required) 

How to Close Equitas Small Finance Bank RD Account Online 

The steps to close the RD account online at Equitas Small Finance Bank are as follows: 

1. Visit your nearest Equitas Small Finance bank branch 

1. Get RD account closure form from the bank 
2. Duly fill in the form, sign it, and submit it to the officer in charge or branch manager 
3. Submit self-attested KYC documents such as address proof and identity proof 
4. Submit the RD certificate or receipt duly signed by account holders 

The bank issues cheque or DD or transfers the entire amount to the preferred account of the customer after document verification. 

Note: 

1. TDS at prevailing rate is applicable on the interest earned. 
2. For senior citizens, customers need to submit Form 15G/ 15H to the bank for non-deduction of TDS. 

Premature Withdrawal Rules for Equitas Small Finance Bank RD 

Here are some of the important points on premature withdrawal rules for Equitas Small Finance bank: 

1. The bank allows premature withdrawal of RD. 
2. Partial withdrawals are not allowed by the bank. 
3. The bank charges a nominal penalty for closing the RD account prematurely.