The Equitas Small Finance Bank offers very good fixed deposit rates to all investors alike. The Equitas Small Finance Bank is one of the most highly rated banks with robust growth as well as great potential. The bank offers Equitas FD interest rates of 4% to 9% per annum to general citizens and the same rate to seniors between a period of a week up to 10 years. The bank also offers exclusive FD rates for NRO, NRIs, and NRE.
The Equitas Small Finance Bank FD rates are also recognised by the RBI, and it makes all investors eligible for deposit insurance policies as mandated by the DICGC.
Equitas Small Finance Bank Fixed Deposit Rates 2023
|Term||General Citizen (p.a.)||Senior Citizen (p.a.)|
|7 days to 14 days||3.50%||4%|
|15 days to 29 days||3.50%||4%|
|30 days to 45 days||4%||4.50%|
|46 days to 62 days||4.50%||5%|
|63 days to 90 days||4.50%||5%|
|91 days to 120 days||5.25%||5.75%|
|121 days to 180 days||5.25%||5.75%|
|181 days to 210 days||6.25%||6.75%|
|211 days to 270 days||6.25%||6.75%|
|271 days to 374 days||6.25%||6.75%|
|1 year to 443 days||8.20%||8.70%|
|445 days to 18 months||8.20%||8.70%|
|18 months, 1 year to 2 years||7.75%||8.25%|
|2 years, 1 day to 887 days||8%||8.50%|
|889 days to 3 years||8%||8.50%|
|3 years, 1 day to 4 years||7.50%||8%|
|4 years, 1 day to 5 years||7.25%||7.75%|
|5 years, 1 day to 10 years||7.25%||7.75%|
Equitas Small Finance Bank has a few regulations when it comes to eligibility. Customers must make a note of these conditions before deciding to appeal for both general as well as Equitas Bank FD rates senior citizens. Those that fall under the following categories are eligible to open an account:
· All Individuals
· Body of Individuals
· Citizens of India
· Hindy Undivided Family
· Companies, Societies or Trusts
There are a few documents that are mandated for all applicants who wish to sign up and enjoy Equitas Bank FD rates today. These documents must be readily provided when submitting the form to open the FD account. The documents that are common for all applicants include:
· PAN copy
· KYC documents copy
· Self-attested Passport size photograph
Apart from these, there are some special documents whose copies, or originals (as per bank terms and regulations), need to be submitted along with the above-mentioned copies:
|HUF||Declaration of HUF|
|Trust||Copies of the Trust Deed Copies of the Registration Certificate Copies of the Resolution of the Trustees|
|Partnership Firm||Partnership Deed Letter from Partners’ Agreement|
|Clubs and Associations||By-Laws of the Association Board Resolution|
|Company||Certificate of Incorporation Memorandum Articles of Association Board Resolution ID proofs|
The Equitas Bank FD interest rates are offered to clients for them to make profits out of investments. At Equitas Bank, interest rates are competitive, so the investors can rely on them and not worry about losing out.
|Term||General Citizen (p.a. in %)|
|7 days to 14 days||3.50%|
|15 days to 29 days||3.50%|
|30 days to 45 days||4%|
|46 days to 62 days||4.50%|
|63 days to 90 days||4.50%|
|91 days to 120 days||5.25%|
|121 days to 180 days||5.25%|
|181 days to 210 days||6.25%|
|211 days to 270 days||6.25%|
|271 days to 374 days||6.25%|
|1 year to 443 days||8.20%|
|445 days to 18 months||8.20%|
|18 months, 1 year to 2 years||7.75%|
|2 years, 1 day to 887 days||8%|
|889 days to 3 years||8%|
|3 years, 1 day to 4 years||7.50%|
|4 years, 1 day to 5 years||7.25%|
|5 years, 1 day to 10 years||7.25%|
|i||Before 7 days||4.10% below the appropriate rate at which the bank retained the deposits before the completion of the first seven-day period when a deposit of the maximum amount or below is made.|
|ii||Completion of 7 days||There are no penalties charged if the seven-day period is completed.|
The nomination options open to Equitas Small Finance Bank investors are shown by the following points:
- By completing the form required by the Banking Companies Rules, the nomination information may be changed while the account relationship is still current.
- There can only be one nominee, regardless of whether a bank account is owned individually or jointly.
- A person with the legal right to handle that minor’s account management may make a nomination on their behalf.
- A resident may name an NRI as a nominee, but before any funds can be reimbursed, the RBI must provide its consent.
- It is preferable to speak with the nearest branch for further details.
Equitas Small Finance Bank Fixed Deposit Rates FAQ’s :-
The Equitas Small Finance Bank is legally registered under the RBI and insured by the DICGC. All investors who wish to gain amazing benefits and invest to avail of the Equitas FD rates can rest easy.
Investors have the choice of opening FDs through online or physical channels through Equitas Bank. Individuals can open an account offline by going to the closest Equitas Bank location, filling out the form, and bringing the necessary paperwork. Alternatively, for the online approach, investors may go to the bank’s website, complete the form there, and electronically provide the required paperwork.
You can use the Equitas FD calculator to know your interests and other rates applied on various quotas made available by the bank. The Equitas Bank FD calculator can also be used at any time from any location since you can access it via the internet on the go.
Like all other banks, Equitas small finance bank also has a minimum FD amount. The starting figure for a fixed deposit is a minimum amount of Rs. 5000 when you first open the account by following the rules mentioned above.