Equitas Small Finance Bank Senior Citizen RD Interest Rates

What is Equitas Small Finance Bank Senior Citizen RD

Equitas Small Finance Bank Senior Citizen Recurring Deposit (RD) is a savings plan meant for customers aged 60 years and above. It allows them to invest a fixed amount every month while earning a higher preferential interest rate than regular RDs. This makes it a more suitable choice for senior citizens seeking steady and low-risk overall returns.

The scheme allows a starting investment of ₹1,000 per month, making it easy to build regular savings. The tenure spans from 12 months to 10 years, offering choices to match various financial aims. An RD calculator helps estimate the maturity value and arrange savings efficiently over time.

Equitas Small Finance Bank RD Interest Rates for Senior Citizens

Below are the RD interest rates for various tenures, providing higher returns along with flexible investment choices.

*Equitas Small Finance Bank RD Interest Rates w.e.f. March 2nd, 2026

Key Features of Equitas Small Finance Bank Senior Citizen RD

The Equitas Small Finance Bank senior citizen RD is designed to give steady returns with very useful features:

• Auto Debit Facility: A standing instruction ensures the monthly instalment is automatically deducted from your savings account, reducing the risk of missed payments and penalties.
• Premature Withdrawal Option: Under the Equitas Small Finance Bank RD premature withdrawal facility, you are allowed to close the deposit before maturity if necessary. However, the interest rate may fall and penalty charges could apply, impacting your total returns.
• Higher Interest Benefit: Resident senior citizens receive an additional 0.50% p.a. over regular RD interest rates, improving overall returns without increasing risk.
• Nomination Facility: You can appoint a nominee, so the deposit amount is paid promptly in case of unforeseen events.
• Digital Account Access: This RD can be used through mobile and internet banking, making it easy to monitor deposits, check maturity value, and manage the account anytime.
• Loan Against RD Facility: With the Equitas Small Finance Bank Loan Against RD option, you can borrow against your RD balance without closing the deposit. This allows you to meet short-term financial needs while your RD continues to earn interest, though the loan will have a slightly higher interest rate.

How To Open an Equitas Small Finance Bank Senior Citizen RD

Opening an Equitas Small Finance Bank Senior Citizen RD is convenient and can be processed via online or offline routes, depending on your convenience.

Online Method

You can open an RD online by following these steps:

• Login to Account: Access your internet or mobile banking account using your credentials.
• Go to Deposits Section: Navigate to the deposits or recurring deposit (RD) section.
• Select RD Type: Choose the senior citizen recurring deposit option that suits your needs.
• Enter Deposit Details: Enter the monthly instalment amount, choose the tenure, and connect your savings account now.
• Review Details: Verify the applicable senior citizen interest rate and check all entered information.
• Confirm and Activate: Submit the request to open and activate your RD instantly.

Offline Method

You may open the RD too by visiting nearby branch:

• Visit Nearby Branch: Go to the nearest Equitas Small Finance Bank branch.
• Collect Application Form: Request the RD form from a bank representative now.
• Provide Required Details: Enter the deposit sum, tenure, and your account information.
• Submit Documents: Submit KYC documents along with proof of age to get senior citizen benefits.
• Choose Payment Method: Select the method for paying monthly installments.
• Complete the Process: Send the form, and the bank will check your request and open the RD.

Equitas Small Finance Bank Senior Citizen RD Eligibility Criteria

To open an Equitas Small Finance Bank Senior Citizen RD, you must satisfy basic eligibility criteria as required.

• Age Requirement: The individual must be 60 years or above to qualify for senior citizen benefits. The bank identifies senior citizens based on the date of birth recorded in the system.
• Resident Customer Eligibility: The RD is available to resident individuals. NRE and NRO customers can open RD accounts, but the additional senior citizen benefit is not applicable to them.
• Valid Savings Account: You must have an active Equitas Small Finance Bank savings account, as the RD instalments are linked and usually auto-debited from this account.
• KYC Compliance: Customers must complete full KYC (Know Your Customer) requirements, including identity and address proof, as per banking norms. Accounts are treated as senior citizen accounts only when KYC details are properly updated.

Key Takeaways

Equitas Small Finance Bank RD rates for senior citizens range from 7.40% to 7.50% p.a., giving 0.50% extra return. Starting from ₹1,000 and with tenures ranging from 12 months to 10 years. It provides an easy and stable saving choice for people aged 60+, with loan and early withdrawal options available.