Equitas Small Finance Bank revises interest rates on fixed deposits


By CNBCTV18.com IST (Released)

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After the review, the interest rate is between 3.50 and 7.25% for terms between 7 days and 10 years for the general public. Senior citizens can benefit from FD interest rates of up to 7.75% per annum.

Equitas Small Finance Bank has raised interest rates on fixed deposits (FD) below Rs 2 crore. After the review, the interest rate is between 3.50 and 7.25% for terms between 7 days and 10 years for the general public. Senior citizens can benefit from FD interest rates of up to 7.75% per annum.

According to its website, Equitas Small Finance Bank also offers interest rates of up to 7.75% per annum for senior citizens for 888 days.

Here are the latest FD rates offered by Equitas Small Finance Bank:

Mandate Interest rate for amount less than Rs 2 crores Annualized return
7 – 14 days 3.50% 3.50%
15 – 29 days 3.50% 3.50%
30 – 45 days 3.50% 3.50%
46 – 62 days 4.00% 4.00%
63 – 90 days 4.25% 4.25%
91 – 120 days 4.75% 4.75%
121 – 180 days 4.75% 4.75%
181 – 210 days 5.25% 5.32%
211 – 270 days 5.25% 5.32%
271 – 364 days 5.25`% 5.32%
1 year to 18 months 6.75% 6.92%
18 months 1 day to 2 years 6.75% 6.92%
2 years 1 day to 887 days 7.00% 7.19%
888 days 7.25% 7.45%
889 days at 3 years 7.00% 7.19%
3 years 1 day to 4 years 6.00% 6.14%
4 years 1 day to 5 years 6.00% 6.14%
5 years 1 day to 10 years 6.00% 6.14%

(Source: Equitas Small Finance Bank)

Recently, private sector lender Axis Bank also revised its interest rates for fixed deposits below Rs 2 crore. For FDs with maturities ranging from seven days to six months, the bank raised interest rates by 25 basis points.
For term deposits with a maturity between seven and 29 days, the bank offers an interest rate of 2.75%. For 30 days to 3 months, it gives 3.25% interest. For a maturity of 9 months to 1 year, it offers an interest of 4.75%. For two to five years, it gives 5.7%, while for five to 10 years, the interest rate is 5.75%.


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