Equitas Small Finance Bank FD Rates

Equitas Small Finance Bank offers its customers a fixed deposit facility with a regular savings account. Customers can easily open a fixed deposit account online or offline and get reasonable returns on their deposits. These deposits can assist customers in growing their money without much effort and hassles. These FD accounts can be opened almost instantly and the Equitas Small Finance Bank FD rates offered can be as attractive as 6.5% interest for 888 days.

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Features of Equitas Small Finance Bank Fixed Deposit

Some of the major features of Equitas fixed deposits are:

  • The bank offers a reasonably good way to utilize idle funds of customers as FDs.
  • Equitas Small Finance Bank FD rates are reasonable and sound.
  • One can choose tenure between 7 days and 10 years as per their investment requirement.
  • The bank allows partial and full premature withdrawal of FDs. This feature, however, is not applicable for FDs with monthly payout schemes.
  • For all FDs booked for senior citizens booked on or after 2nd December 2019, there is no premature withdrawal penalty charged, except in grouping cases.
  • The bank does not charge any penalty on premature withdrawal if the fixed deposit is for above six months.
  • Nomination facility available
  • Automatic renewal of FDs is available.
  • The fixed deposit accounts provide quarterly and monthly payouts with reinvestment available.

Equitas Small Finance Bank Fixed Deposit Rates 2021

Here are the Domestic FD Rates for Equitas Small Finance Bank for 2021:

Equitas Small Finance Bank FD Rates for Domestic/NRE/NRO for amounts less than Rs. 2 crores (w.e.f: 1st June 2021)

Tenure

Interest Rate (%)for Senior Citizens

Interest Rate (%)for Regular Citizens

7 to 14 days

4.0

3.5

15 to 29 days

4.0

3.5

30 to 45 days

4.0

3.5

46 to 62 days

4.5

4.0

63 to 90 days

4.5

4.0

91 to 120 days

5.25

4.75

121 to 180 days

5.25

4.75

181 to 210 days

5.75

5.25

211 to 270 days

5.75

5.25

271 to 364 days

5.75

5.25

1 year to 18 months

6.85

6.35

8 months 1 day to 2 years

6.75

6.25

2 years 1 day to 887 days

6.85

6.35

888 days

7.0

6.50

889 days to 3 years

6.85

6.35

3 years 1 day to 4 years

6.50

6.25

4 years 1 day to 5 years

6.50

6.25

5 years 1 day to 10 years

7.0

6.50

Equitas Small Finance Bank Selfe Account Interest Rates for amounts from Rs. 5000 to Rs. 90,000 for 7 days to 365 days.

Tenure

Interest Rate (%)for Senior Citizens

Interest Rate (%)for Regular Citizens

7 to 14 days

4.0

3.5

15 to 29 days

4.0

3.5

30 to 45 days

4.0

3.5

46 to 62 days

4.5

4.0

63 to 90 days

4.5

4.0

91 to 120 days

5.25

4.75

121 to 180 days

5.25

4.75

181 to 210 days

5.75

5.25

211 to 270 days

5.75

5.25

271 to 364 days

5.75

5.25

1 year 

6.85

6.35

*Fixed Deposit Interest rates are subject to change. TDS will be deducted as applicable.

*0.50% extra rates for Senior citizens. This does not apply to NRE/NRO accounts.

Things to Know 

Some of the important things about Equitas fixed deposits are listed below: 

  • These Equitas Small Finance Bank FD rates start from 3.5% and can go up to 6.5% p.a.
  • The interest rates for Senior Citizens are an additional 0.5% for domestic fixed deposits.
  • The tenure of the fixed deposit determines the interest rate applicable to the FD account.
  • Monthly payout fixed deposit accounts have Equitas Small Finance Bank FD rates discounted on a compounding basis quarterly.
  • Currently, Equitas Small Finance Bank FD rates provide an annualized yield of up to 6.66% annually. However, these interest rates are subject to change from time to time.

Wrapping It Up

Equitas Bank Small Finance Bank offers fixed deposit accounts at reasonable interest rates. All customers can easily open an FD account online from any savings account and expect to get fair returns. 

However, it is always advisable for customers to analyze and reconfirm the FD rates from the Bank directly before deciding to open an FD account and invest money in fixed deposits.

Written By: PolicyBazaar - Updated: 26 August 2021
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