Equitas Small Finance Bank increases FD, RD interest rates - Full Details

As per an official statement, customers can now avail 7% interest p.a. on FDs for 888 days, which brings the annual yield to 7.19%.

For FD, senior citizens can now earn an interest of 7.50% p.a. for 888 days and in RD, senior citizens can get 7.40% p.a. 30 or 36 months. Pixabay pic.

Equitas Small Finance Bank Ltd has announced the revision of interest rates for Retail Term Deposits from 27th June 2022.

As per an official statement, customers can now avail 7% interest p.a. on FDs for 888 days, which brings the annual yield to 7.19%.

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For RDs, customers can get up to 6.90% on its 30 Months or 36 Months scheme.

Senior citizens

Senior citizens will continue to earn the maximum benefits as the bank offers them a flat rate of .50% extra over existing revised rates on RTDs.

For FD, senior citizens can now earn an interest of 7.50% p.a. for 888 days and in RD, senior citizens can get 7.40% p.a. 30 or 36 months.

"During this time of economic slowdown, when the inflation is high and the markets are not performing, Equitas SFB wants to offer their customers substantial returns. Along with that, Equitas SFB Ltd offers the ease of opening the account with just a Selfie and ease of operating the account via application. The accounts with Equitas are a secured investment backed by the DICGC. Along with the bank’s beyond banking initiatives, this revision widens the opportunity for its customers to save more while contributing back to the society," a company statement said.

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