Equitas Small Finance Bank has raised interest rates on fixed deposits under Rs 2 crore. The new interest rates are effective from June 27, 2022.
The bank will now offer an interest rate of 3.50 percent to 7 percent for tenures ranging from 7 days to 10 years. Senior citizens can avail FD interest rates up to 7.50% p.a. The bank will offer an interest rate of 6 percent for tenure between 3 years to 10 years. For tenor of 889 days to 3 years, the bank will offer interest rate of 6.90 percent.
Bank offers interest rate on recurring deposit 6 percent to 6.90 percent raging from 12 months to 120 months.
Interest rates on deposits maturing in 1 year to 18 months now offer 6.60, while interest rates on deposits maturing in 18 months, 1 day to 2 years will fetch 6.45 percent.
The Equitas bank deposits are protected by the insurance program provided by the Deposit Insurance and Credit Guarantee Corporation of India (DICGC). A customer’s deposits kept in the same capacity and with the same rights in all bank branches are insured up to a maximum of Rs. 5 lakh.