Equitas Small Finance Bank, established in 2007, provides microfinance services. Domestic, NRI fixed deposits are available from the bank. For fixed deposits with terms ranging from seven days to ten years, the Equitas small finance bank offers interest rates on senior citizens FD in the range of 4% per annum to 9% per annum.
All tenures are subject to an additional 0.50% p.a. interest rate for senior citizens. The bank’s top domestic fixed deposit interest rate for the general public has an 888-day term and is 8.50% p.a. For tenures ranging from one year to ten years, NRE fixed deposit rates also range from 7.25% p.a. to 8.50% p.a.
The interest rates on its fixed deposits have recently changed at Equitas Small Finance Bank (FDs). For fixed deposits maturing in 888 days, seniors are eligible for a 9% interest rate. For those whose fixed deposits mature in 888 days, the interest rate can increase to 8.5%. Since April 11, 2023, the new interest rates have been in effect. Let’s look at the fixed deposit rates that Equitas Small Finance Bank provides.
Equitas Small Finance Bank FD Interest Rate
| Tenure | for Public | for senior citizen |
|---|---|---|
| 7 – 14 days | 3.50% | 4.00% |
| 15 – 29 days | 3.50% | 4.00% |
| 30 – 45 days | 4.00% | 4.50% |
| 46 – 62 days | 4.50% | 5.00% |
| 63 – 90 days | 4.50% | 5.00% |
| 91 – 120 days | 5.25% | 5.75% |
| 121 – 180 days | 5.25% | 5.75% |
| 181 – 210 days | 6.25% | 6.75% |
| 211 – 270 days | 6.25% | 6.75% |
| 271 – 364 days | 6.25% | 6.75% |
| 1 year to 18 months | 8.20% | 8.70% |
| 18 months 1 day to 2 years | 7.75% | 8.25% |
| 2 years 1 day to 887 days | 8.00% | 8.50% |
| 888 days | 8.50% | 9.00% |
| 889 days to 3 years | 8.00% | 8.50% |
| 3 years 1 day to 4 years | 7.50% | 7.00% |
| 4 years 1 day to 5 years | 7.25% | 7.75% |
| 5 years 1 day to 10 years | 7.25% | 7.75% |
Read More : PPF Interest Rate
Interest on public FD by Equitas Small Finance Bank
- FDs with maturities of 7 days to 29 days will earn interest at a rate of 3.5%.
- Investors can receive a 4% interest rate on fixed deposits with maturities of between 30 and 45 days.
- For FDs maturing in the range of 46 to 90 days, Equitas SFB offers an interest rate of 4.5%.
- Fixed deposits with maturities of 91 to 180 days will earn interest at a rate of 5.25%.
- An interest rate of 6.25 percent will be paid on FDs that mature in the range of 181 and 364 days.
- Equitas SFB will pay fixed deposits with maturities of one year and 18 months an interest rate of 8%.
- The interest rate on FDs with maturities between one day and two years and 18 months is 7.75 percent.
- For fixed deposits maturing between two years and one day and three years, investors will receive an interest rate of 8%. (except FDs maturing in 888 days).
- The interest rate on fixed deposits with maturities of three years and one day to four years is 7.5%.
- For fixed deposits with maturities ranging from one day to ten years and lasting four years, Equitas SFB offers an interest rate of 7.25 percent.
Interest on senior citizens FD by Equitas Small Finance Bank
- Senior citizens will receive an additional 50 basis points on the interest rate for regular citizens (100 basis points is equal to 1%).
- Seniors will receive an interest rate of 4% on fixed deposits with maturities between 7 and 29 days.
- For FDs with maturities between 30 and 45 days, Equitas Small Finance Bank will offer an interest rate of 4.5%.
- Fixed deposits with maturities of 46 to 90 days will earn interest at a rate of 5%.
- For FDs maturing between 91 and 180 days, senior citizens will receive an interest rate of 5.75 percent.
- The bank will provide senior citizens with fixed deposits that mature in between 181 and 364 days at a 6.75 percent interest rate.
- For fixed-rate debt obligations (FDs) maturing between one year and 18 months, Equitas SFB will offer an interest rate of 8.7%.
