Equitas Small Finance Bank encourages savings by newly introduced tenure of 444 days

The revised interest rates will be effective from 05th June 2023
A special tenure of 444 days has been introduced for the savers’ community to boost the savings culture of citizens

05 June 2023: Equitas Small Finance Bank Limited, one of the leading SFBs, has announced a new tenure for Fixed Deposits in Domestic and NRE/ NRO Interest Rates Accounts. The revised interest rates will be effective from 05th June 2023.

The bank has introduced a new slab of 444 days tenure that offers an interest rate of 8.5% for deposits less than INR 2 crore. The bank also continues to offer interest rates on RD investments for tenures ranging from 12 months to 120 months. Both domestic and NRE/ NRO account holders will be eligible to benefit from this new slab. Furthermore, domestic senior citizens will receive 0.50% extra on the FD and RD rates. The interest payouts will continue to be quarterly across all account types.

Murali Vaidyanathan, Senior President and Country Head, Equitas Small Finance Bank, said, “Equitas Small Finance Bank is happy to announce the new 444 days tenure for the savers’ community. This is an important deposit allocation for customers’ needs as it fits in goal-based planning for short-term and long-term vision with the best-in-class rate of return. We want to continue to promote a savings culture among our customers and provide them with maximum benefits, ultimately helping their money to grow. Now you can also book best-in-class rates FD through our online digital channels as it scores over the regular FD process in terms of convenience and ease of operation. A quick and convenient way to save money and maximise profits on maturity.”

Fixed Deposit Rate for Domestic, NRE / NRO (for INR) with effect from: 5th June 2023

Tenure

Interest rates for amount less than Rs. 2 crore w.e.f 5th June 2023

Annualised Yield

7 – 14 days

3.50%

3.50%

15 – 29 days

3.50%

3.50%

30 – 45 days

4.00%

4.00%

46 – 62 days

4.50%

4.50%

63 – 90 days

4.50%

4.50%

91 – 120 days

5.25%

5.25%

121 – 180 days

5.25%

5.25%

181 – 210 days

6.25%

6.35%

211 – 270 days

6.25%

6.35%

271 – 364 days

6.25%

6.35%

1 year to 443 Days

8.20%

8.46%

444 days

8.50%

8.77%

445 days to 18 months

8.20%

8.46%

18 months 1 day to 2 years

7.75%

7.98%

2 years 1 day 887 days

8.00%

8.24%

888 days

8.50%

8.77%

889 day to 3 years

8.00%

8.24%

3 years 1 day to 4 years

7.50%

7.71%

4 years 1 day to 5 years

7.25%

7.45%

5 years 1 day to 10 years

7.25%

7.45%

Recurring Deposit for Domestic, NRE / NRO (in INR) Rate for different tenure with effect from:

5th June 2023

Tenure

Interest rates for amount less than Rs. 2 crore w.e.f 5th June 2023

12 Months

8.20%

15 Months

8.20%

18 Months

8.20%

21 Months

7.75%

24 Months

7.75%

30 Months

8.00%

36 Months

8.00%

48 Months

7.50%

60 Months

7.25%

90 Months

7.25%

120 Months

7.25%

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