Equitas Small Finance Bank, an institution insured by DICGC, has increased interest rates on the following fixed deposits 2 crore. The bank made an announcement on June 10, 2022 and due to the adjustment, the bank has increased interest rates on many terms, now ordinary customers will enjoy a maximum interest rate of 6.85% and seniors age will enjoy an interest rate of 7.35%. cents, the specifics are as follows.
Equitas Bank Small Finance Rate FD
The bank will continue to apply an interest rate of 4.50% on deposits from 7 to 45 days, while the interest rate on deposits from 46 to 62 days will remain stable at 4.00%. The bank previously offered a 4% interest rate on deposits from 63 to 90 days, but that has now been raised to 4.25%, up 25 basis points. The interest rate on fixed deposits for 91-180 days was raised from 4.35% to 4.75%, an increase of 40 basis points, while the interest rate for term deposits from 181 days to 270 days was raised from 4 ,85%. % to 5.25%, an increase of 40 basis points.
Fixed deposits maturing in 271 – 364 days will now earn 5.25%, up from 5% previously, up 25 basis points, while fixed deposits with maturity in 1 year to 18 months will earn 6.50%, up from 6.10% previously, 40 basis points increase. Equitas Small Finance Bank will now offer 6.35% interest on deposits from 18 months 1 day to 2 years and 6.75% interest rate on deposits 2 years 1 day up to 887 days.
Deposits with a term of 888 days will have a maximum interest rate of 6.85%, up from the previous 6.75%, up 10 basis points and deposits with a term of 889 days to 3 years will be profitable yield was 6.75%, up from 6.50 percent previously. Equitas Small Finance Bank fixed deposits maturing in 3 years 1 day to 10 years will continue to have a 6% interest rate, while the bank adds 0.50% for seniors (not applicable) for NRE/NRO) at all maturities.
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Equitas Small Finance Bank RD Rate
The bank offers interest rates ranging from 6.50% to 6% on recurring deposits under 2 Cr has a maturity from 12 months to 120 months. The bank offers a maximum interest rate of 6.75% on RDs from 30 to 36 months, while seniors receive an additional benefit of 0.50% on all tenors.
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