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Equitas Bank Fixed Deposit Interest Rates

FD Interest Rate in Equitas Small Finance Bank 2021

Last Updated 05th Oct 2021

When it comes to the FD interest rate, the highest rate offered on Equitas Small Finance Bank FD is 6.00%. Latest Equitas Small Finance Bank FD interest rate for senior citizens, on the other hand, ranges between 4.00% to 6.50%.You can earn up to ₹ 30,000 per lakh by investing some money in a fixed deposit account.

Time Duration FD Interest Rates Today Current FD Interest Rates for Senior Citizen
7 days to 14 days 3.50% 4.00%
15 days to 29 days 3.50% 4.00%
30 days to 45 days 3.50% 4.00%
46 days to 62 days 4.00% 4.50%
63 days to 90 days 4.00% 4.50%
Earn upto 6.95% on FD APPLY NOW

Equitas Bank Fixed Deposit Features

Equitas Small Finance Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of Equitas Small Finance Bank Fixed Deposit are:

  • Deposit Amount : Equitas Small Finance Bank FD can be opened with an amount as a low ₹ 5,000 to up to No Limit.
  • FD Tenure : Ranges between 7 days to 10 years.
  • Interest Rate Range : 3.50% p.a. to 6.00% p.a.
  • Senior Citizens FD Rate : 4.00% p.a to 6.50% p.a.
  • Highest Interest Rate : As per today’s rate, Equitas Small Finance Bank’s highest interest rate on FD is 6.00% offered for a tenure of 10 years.
  • Safety of Equitas Small Finance Bank Deposits : Equitas Small Finance Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : Equitas Small Finance Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Fixed Deposit, Selfe Fixed Deposit

Equitas Small Finance Bank FD Interest Rates Today

Interest rates on Equitas Small Finance Bank deposits are updated regularly by the Government of India. The following are updated Equitas Small Finance Bank FD interest rates 2021:

Tenure Interest Rate
7 days to 14 days 3.50%
15 days to 29 days 3.50%
30 days to 45 days 3.50%
46 days to 62 days 4.00%
63 days to 90 days 4.00%
91 days to 120 days 4.35%
121 days to 180 days 4.35%
181 days to 210 days 4.85%
211 days to 270 days 4.85%
271 days to 364 days 4.85%
888 days 6.00%
889 days to 3 years 6.00%
18 months 1 day to 2 years 5.75%
1 year to 18 months 5.85%
2 years 1 day to 887 days 6.00%
3 years 1 day to 4 years 5.75%
4 years 1 day to 5 years 5.75%
5 years 1 day to 10 years 6.00%

Equitas Small Finance Bank FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, Equitas Small Finance Bank offers a higher interest rate to senior citizens than the general public. Fixed deposit interest rates for senior citizens in Equitas Small Finance Bank 2021 are as follows:

Tenure Interest Rate for senior citizens
7 days to 14 days 4.00%
15 days to 29 days 4.00%
30 days to 45 days 4.00%
46 days to 62 days 4.50%
63 days to 90 days 4.50%
91 days to 120 days 4.85%
121 days to 180 days 5.85%
181 days to 210 days 5.35%
211 days to 270 days 5.15%
271 days to 364 days 5.15%
888 days 6.50%
889 days to 3 years 6.50%
18 months 1 day to 2 years 6.25%
1 year to 18 months 6.35%
2 years 1 day to 887 days 6.50%
3 years 1 day to 4 years 6.25%
4 years 1 day to 5 years 6.25%
5 years 1 day to 10 years 6.50%

Equitas Small Finance Bank Fixed Deposit Rates – Premature Withdrawal

You can close your Equitas Small Finance Bank FD account prematurely, however Equitas Small Finance Bank charges a penalty of for premature withdrawal. Also, The penal provisions for premature closure on Equitas Small Finance Bank FD are subject to change from time to time and may also vary with deposit schemes.

Nomination Facility on Equitas Small Finance Bank FD

Equitas Small Finance Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an Equitas Small Finance Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

Equitas Small Finance Bank Fixed Deposit Scheme

Fixed Deposit

Description:

  • Equitas Small Finance Bank FD ensures high rate of returns, safety and helps money to grow with meagre efforts. The fact that one can avail interest at regular interest make Equitas even more lucrative.
  • The higher interest rate for senior citizens.
  • Partial and full premature withdrawal is allowed.
  • Nomination facility is allowed.
  • Reinvestment, Quarterly Payout, and Monthly Payout available.

Who is eligible?

  • Resident Indians, Hindu Undivided Families, Sole proprietorship firms, Partnership firms, Limited companies and Trust accounts.
Selfe Fixed Deposit

Description:

  • Self Fixed Deposit avails the opportunity to book FD online in just three minutes using Aadhar Number and PAN. It provides attractive returns and high safety.
  • Higher interest rate for senior citizens
  • Facility of opening a FD without a saving account
  • The minimum initial amount is Rs. Rs. 1000.

Who is eligible?

  • An individual should be an Indian resident and he should be more at least 18 years old.

Earn upto ₹ 30,000 Per Lakh on Equitas Small Finance Bank Fixed Deposit?

To earn ₹ 30,000 per lakh on an online FD for 60 months:-

  • Investment Amount - ₹ 1,00,000
  • FD Interest Rate - 6.00%
  • Tenure - 60 months
  • Calculation formula - Simple interest
  • Interest Payout - ₹ 30,000
  • FD Maturity Amount - ₹ 1,30,000

Note: Before investing in a fixed deposit account, you must compare the FD rates offered by different financial institutions. This way, you can earn the maximum returns.

Documents Required to Open Fixed Deposit Account in Equitas Small Finance Bank

  • PAN and Aadhaar card
  • Mobile number should be linked to Aadhar.
  • Age proof (Birth certificate, matriculation certificate, etc,)
  • Passport size photographs
  • Bank A/c details

FD Account Opening Process at Equitas Small Finance Bank

To open an Equitas Small Finance Bank Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of Equitas Small Finance Bank and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the Equitas Small Finance Bank FD after reading the terms and conditions.

Loan Against Fixed Deposit Equitas Small Finance Bank

Equitas Small Finance Bank offers loans up to 0% against its own deposit. Note that Equitas Small Finance Bank will not give you loan against FD of any other bank. Equitas Small Finance Bank offers Loan against FD at the rate of 4.5% to 7%

FAQs

What is the highest fixed deposit interest rate for Equitas Small Finance Bank?

You can earn a maximum interest of 6.00% on Equitas Small Finance Bank fixed deposit deposits for a tenure of 10 months.

Are there any special rates for senior citizens FD of Equitas Small Finance Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 3.50% to 6.00%. Compared to this, Equitas Small Finance Bank senior citizens FD are in the range of 4.00% to 6.50%.

What are the current Equitas Small Finance Bank FD interest rates 2021?

Current interest for FD in Equitas Small Finance Bank ranges between 3.50% - 6.00%. for different tenure.The highest rate is offered on a tenure 6.50 months/years. For senior citizens the interest rates ranges bweteen 4.00% - 6.50%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Equitas Small Finance Bank?

The minimum deposit amount required to book an FD with Equitas Small Finance Bank is ₹ 5,000 and there is no limit for maximum amount.

Did Equitas Small Finance Bank increase FD rates in 2021?

No, Equitas Small Finance Bank has reduced its Fixed Deposit rates by upto 0.8%. The best rate on Equitas Small Finance Bank FD has been cut to 6.00% from 6.80% earlier. The fixed deposit rates of Equitas Small Finance Bank are now in the range of 3.50% to 6.00% with effect from 01 Oct, 2021.

Is it possible to change the tenure of my existing fixed deposit account with Equitas Small Finance Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Equitas Small Finance Bank without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in Equitas Small Finance Bank?

Yes, you can submit your application for opening an FD account on the website of Equitas Small Finance Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in Equitas Small Finance Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 6.00%. For Equitas Small Finance Bank FD the number of years in which your FD will get doubled is; 72/6.00 = 12

What is the interest of 1 lakh in the Equitas Small Finance Bank?

The interest on Equitas Small Finance Bank fixed deposit depends on the tenure of the FD for which it is deposited. The highest interest rate is 6.00% for tenure and banks offer senior citizens little more, which is 6.50%.


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Equitas Bank News - Oct 2021
  • 2021-10-01 : Equitas Small Finance Bank Revises FD Rate
    Equitas Small Finance Bank has revised the return rate on fixed deposit schemes on various tenures. The bank is offering the highest interest rate of 6% for 2 years 1 day to 887 days and 5 years 1 day to 10 years. Senior citizens will get an extra 0.50% interest rate on all the tenures.
  • 2021-09-01 : Equitas Small Finance Bank ties with Google Pay for Digital FD
    Equitas Small Finance Bank announced that it will now enable users to open fixed deposits on Google Pay. Initially, the functionality will be available for Google Pay users who are accessing the app from Android.
  • 2020-06-02 : Equitas Bank revised its FD rates
    With effect from 1 June 2020, Equitas Bank changed its FD rates. The fixed deposit rate for 7 to 29 days is 3.60%, for 30 to 45 days it is 4.10% and it is 4.60% for 46 to 62 days. The FD rate for 63 to 90 days is 5.60%, for 90 to 180 days it is 5.85% and stands at 6.10% for 181 to 270 days. Further, the fixed deposit rates for 271 to 364 days is 6.60%, it is 7.10% for 1 year to 2 years and for 2 years one day to 3 years, it is 7.15%. FD 3 years one day to 10 years is 6.75% and stands at 7.35% for 888 days.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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