Equitas Small Finance Bank revises FD interest rates, offers up to 9 % returns for senior citizens
Equitas Small Finance Bank revised its fixed deposit interest rates from August 21. Senior citizens will get as much as 9 per cent interest on FDs under the new scheme.
When it comes to assured returns on investment, fixed deposits (FDs) are one of the best choices available to individuals. The time-bound scheme is a low-risk option and ensures that customers will get regular interest payments on their deposited money. Equitas Small Finance Bank is giving its customers attractive interest rates on term deposits. The small finance bank is offering as high as 9 per cent interest on senior citizen FDs. The general public can avail an interest rate of up to 8.5 per cent. The new rates came into effect on August 21.
Equitas Small Finance Bank FD rates and tenures:
7-29 days: Equitas Small Finance Bank is providing 3.5 per cent returns on deposits under Rs 2 crore.
30-45 days: Investors can earn a 4.00 per cent return on their term deposit.
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46-90 days: A return of 4.5 per cent will be provided to customers opting for this FD tenure.
91-180 days: Equitas Small Finance Bank account holders can get 5.25 per cent interest on fixed deposits of this tenure.
181-364 days: People opting for FDs with a term of 181 to 364 days will get 6.25 per cent interest.
1 year 2 days – 443 days: Equitas Small Finance Bank will provide 8.2 per cent return to investors.
18 months 1 day - 2 years: The Equitas Small Finance Bank fixed deposit will get 7.75 per cent interest.
2 years 1 day - 887 days: The term deposit’s rate of return is 8 per cent.
888 days: An interest rate of 8.25 per cent is being offered by the small finance bank.
889 days -3 years: Investors will get 8 per cent interest on their FD.
4 years 1 day - 10 years: The FD offers 7.25 per cent interest.
Senior citizens will get an additional 0.5 per cent interest on all deposits. Partial and full premature withdrawal is allowed on the fulfilment of certain conditions.
Equitas Small Finance Bank NRE FD interest rate
Equitas Small Finance Bank has stated that the interest on NRE fixed deposits will be payable only if a minimum of one year has been completed. Investors can get between 7.25 and 8.5 per cent interest.