Equitas Small Finance Bank has hiked interest rates on fixed deposits (FD) below Rs 2 crore. After the revision, the interest rate is in the range of 3.50-7.25 percent for tenures between 7 days and 10 years for general public. Senior citizens can avail FD interest rates of up to 7.75 percent per annum.
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According to its website, Equitas Small Finance Bank also offers interest rates up to 7.75 percent per annum for senior citizens for 888 days.
Here are the latest FD rates offered by Equitas Small Finance Bank:
| Tenure | Interest rates for amount less than Rs 2 crores | Annualised Yield |
| 7 - 14 days | 3.50% | 3.50% |
| 15 - 29 days | 3.50% | 3.50% |
| 30 - 45 days | 3.50% | 3.50% |
| 46 - 62 days | 4.00% | 4.00% |
| 63 - 90 days | 4.25% | 4.25% |
| 91 - 120 days | 4.75% | 4.75% |
| 121 - 180 days | 4.75% | 4.75% |
| 181 - 210 days | 5.25% | 5.32% |
| 211 - 270 days | 5.25% | 5.32% |
| 271 - 364 days | 5.25`% | 5.32% |
| 1 year to 18 months | 6.75% | 6.92% |
| 18 months 1 day to 2 years | 6.75% | 6.92% |
| 2 years 1 day to 887 days | 7.00% | 7.19% |
| 888 days | 7.25% | 7.45% |
| 889 days to 3 years | 7.00% | 7.19% |
| 3 years 1 day to 4 years | 6.00% | 6.14% |
| 4 years 1 day to 5 years | 6.00% | 6.14% |
| 5 years 1 day to 10 years | 6.00% | 6.14% |
(Source: Equitas Small Finance Bank)
Recently, private sector lender Axis Bank has also revised its interest rates for fixed deposits under Rs 2 crore. For FDs with maturities ranging from seven days to six months, the bank has hiked its interest rates by 25 bps.
For fixed deposits maturing from seven to 29 days, the bank is offering a 2.75 percent interest rate. For 30 days to 3 months, it is giving 3.25 percent interest. For maturity of 9 months to 1 year, it is offering 4.75 percent interest. For two to five years, it is giving 5.7 percent, whereas for five to 10 years the interest rate is 5.75 percent.
(Edited by : Anshul)
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