Equitas Small Finance Bank Limited, one of the small finance bank, has increased fixed deposit interest rates for domestic and NRE/NRO accounts under a special window on entering its 7th year of banking. The offer is valid from September 1 to 7.
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In this offer the customers can now avail up to 7.32 percent interest p.a. on 888 days fixed deposit. Under this offer the interest rates for senior citizens have been increased to 7.82 percent and 7.47 percent for its NRE customers, the bank said.
The interest payout options under this special offer are monthly and quarterly.
Additionally, the customer can procure higher interest rates for tenure greater than 1 year and to 3 years. The offer is not applicable for fresh NRE Funds.
Moreover, the festive season is about to start in India from September onwards and it is an opportune time for the bank to provide depositors the necessary benefits on savings and fixed deposits to customers especially in the hinterlands of India, the bank said in a statement.
Here are the rates on offer for domestic accounts:
| Tenure | Interest rates for amount less than Rs. 2 crore w.e.f 1st to 7th Sept 2022 | Annualised Yield |
| 1 year to 18 months | 6.82% | 7.00% |
| 18 months 1 day to 2 years | 6.82% | 7.00% |
| 2 years 1 day 887 days | 7.07% | 7.26% |
| 888 days | 7.32% | 7.52% |
| 889 day to 3 years | 7.07% | 7.26% |
| 3 years 1 day to 4 years | 6.07% | 6.21% |
| 4 years 1 day to 5 years | 6.07% | 6.21% |
| 5 years 1 day to 10 years | 6.07% | 6.21% |
Here are the rates on offer for NRE accounts:
| Tenure | Interest rates for amount less than Rs. 2 crore w.e.f 1st to 7th Sept 2022 | Annualised Yield |
| 1 year to 18 months | 6.97% | 7.15% |
| 18 months 1 day to 2 years | 6.92% | 7.10% |
| 2 years 1 day 887 days | 7.37% | 7.58% |
| 888 days | 7.47% | 7.68% |
| 889 day to 3 years | 7.37% | 7.58% |
| 3 years 1 day to 4 years | 6.07% | 6.21% |
| 4 years 1 day to 5 years | 6.07% | 6.21% |
| 5 years 1 day to 10 years | 6.07% | 6.21% |
(Edited by : Anshul)
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