Equitas Small Finance Bank customers will now earn higher interests on savings, Fixed Deposit and Recurring Deposit

· The hike in interest rates will be effective from 15th October, 2022

· Higher interest rates for tenure greater than 1 year and to 3 years

14 October 2022: Equitas Small Finance Bank Limited, one of the leading SFBs, has announced the revision of interest rates for savings, Fixed Deposits as well as Recurring Deposits in Domestic and NRE/ NRO Interest Rates Accounts. The hike in interest rate will be effective from 15th October, 2022.

The hike will allow customers with savings account to gain interest ranging from 3.5% up to 7%. Furthermore, senior citizens will receive 0.50% extra. This will also be applicable on domestic FD and RD accounts. The interest payouts will continue to be quarterly across all account types.

Murali Vaidyanathan, Senior President and Country Head, Equitas Small Finance Bank, said, “Today we are announcing that we have increased not just the FD rates, but also the interest rates on RD and savings account. Among these volatile times, we wish to encourage saving and maximize customer needs. We made the decision to safeguard the interests of our depositors since, to us, they are just as important as borrowers are. Together, they advocate for the reality of beyond banking. Please come and join this transformative journey with Equitas and together we will grow our society.”

Furthermore, the customer can procure higher interest rates on their FDs for tenure greater than 1 year and to 3 years. This is applicable in both domestic and NRE/ NRO accounts. This is to ensure that inclusive investment opportunities are being offered, especially to the customers in the hinterlands of India.

Saving Interest Rates Table

Balance

Revised rate of interest w.e.f. 15th Oct 2022

< ₹ 1 Lac 3.50% Above ₹ 1L and up to ₹5L 5.50% Above ₹ 5L and up to ₹2 crs 7.00% Above ₹ 2Cr and up to ₹5Cr 7.00% Fixed Deposit Rate for Domestic, NRE / NRO (for INR) with effect from: 15th October 2022 Tenure Interest rates for amount less than Rs. 2 crore w.e.f 15th October 2022 Annualised Yield 7 - 14 days 3.50% 3.50% 15 - 29 days 3.50% 3.50% 30 - 45 days 3.50% 3.50% 46 - 62 days 4.00% 4.00% 63 - 90 days 4.25% 4.25% 91 - 120 days 4.75% 4.75% 121 - 180 days 4.75% 4.75% 181 - 210 days 5.75% 5.83% 211 - 270 days 5.75% 5.83% 271 - 364 days 6.00% 6.09% 1 year to 18 months 7.10% 7.29% 18 months 1 day to 2 years 6.95% 7.13% 2 years 1 day 887 days 7.40% 7.61% 888 days 7.50% 7.71% 889 day to 3 years 7.40% 7.61% 3 years 1 day to 4 years 6.75% 6.92% 4 years 1 day to 5 years 6.75% 6.92% 5 years 1 day to 10 years 6.75% 6.92% Recurring Deposit for Domestic, NRE / NRO (in INR) Rate for different tenure with effect from: 15th October 2022 Tenure Interest rates for amount less than Rs. 2 crore w.e.f 15th October 2022 12 Months 7.10% 15 Months 7.10% 18 Months 7.10% 21 Months 6.95% 24 Months 6.95% 30 Months 7.40% 36 Months 7.40% 48 Months 6.75% 60 Months 6.75% 90 Months 6.75% 120 Months 6.75% For further information or any questions, please contact equitaspr@adfactorspr.com;