Following the revision, the bank will offer interest rates ranging between 4 percent and 6.50 percent on savings accounts. According to the ESAF website, “Interest on Savings Bank accounts will be calculated on end of the day balance and credited to the accounts on a monthly basis.”
Savings account interest rate
The bank will now offer savings account holders an interest rate of 4 percent on accounts with balances up to and including Rs. 5 lakh. Savings accounts with over Rs. 5 lakh and up to and including Rs. 15 lakh balance will earn interest at a rate of 5.50 percent. For savings accounts with balance over Rs. 15 lakh, the bank will now offer a maximum interest rate of 6.50 percent.
ESAF fixed deposit interest rate
ESAF Small Finance Bank is currently offering interest rates on fixed deposits maturing in 7 days to 10 years that range from 4.00 percent to 5.25 percent for the general public.