Equitas Small Finance Bank has revised interest rates on fixed deposits (FD) under Rs.2 crore. The new interest rates are effective from September 8, 2022.

The bank will now offer an interest rates in the range of 3.50 percent to 7.25 percent for tenures ranging from 7 days to 10 years. Senior citizens can avail FD interest rates up to 7.45% p.a.

Recurring deposit

The bank offers interest rates between 6.75% and 7% on various tenures for domestic, NRO, Non-individuals.

Features of Equitas Small Finance Bank FD

According to the bank website, these are the features.

• FD interest rates up to 7.75%* p.a. for Senior Citizens for 888 days
• Partial and Full Pre Mature** withdrawal allowed
• No Premature Withdrawal penalty for all FDs booked for Senior Citizens on or after 2nd December 2019 (Not applicable for grouping)
• No Penalty on premature withdrawal above 6 months
• Nomination facility available
• Interest frequency available – Reinvestment, Quarterly Payout, and Monthly*** Payout

(*Fixed Deposit Interest Rates are subject to change from time to time. **View Terms and Conditions for FD (Partial premature withdrawal not allowed for FDs booked with monthly payout) ***For monthly payout fixed deposits, the interest rate will be discounted on a quarterly compounding basis.)