With the increase, customers with savings accounts will be able to earn interest in the range of 3.5% to 7%, said a press release by Equitas SFB. Senior citizens will also get an additional 0.50 percent. “This will also be applicable to domestic FD and RD accounts. All types of accounts will continue to receive their interest payments quarterly,” the press release said.
savings account interest rate
The bank now offers a maximum interest rate of 7% on savings account deposits.
According to the website, ‘Interest will be calculated on the daily closing balance of the account.
Interest will be paid on quarterly basis by direct deposit in savings account
The slab rates are applicable on the incremental amount based on the closing balance.
equitation FD interest rates
Higher interest rates are applicable for both domestic and NRE/NRO accounts. Small Finance Bank offers interest rates between 3.5% and 7.50% for regular citizens with tenures ranging from 7 days to 10 years. For deposits maturing in 888 days, the bank now offers a maximum interest rate of 7.50% p.a. for general public and 8% for senior citizens. Earlier the interest rate on the tenure of 888 days was 7.25 per cent.
equitation RD interest rates
After the increase, the bank is now offering recurring deposits of less than Rs. 2 crores maturing in 30 months and 36 months to general public at a maximum interest rate of 7.40%. Here is a look at the applicable recurring deposit interest rates for Domestic, NRE/NRO (in INR) for various tenors.
AU Small Finance Bank It also hiked savings and FD interest rates and now offers a maximum interest rate of 7.00% on savings accounts, and as of October 10, 2022, it has increased its interest rates on fixed deposits by 60 basis points (bps).