Equitas Bank Saving Account

Last Updated 01st Jul 2020

Equitas Small Finance Bank Savings Account Interest Rate India Jul 2020

Equitas Small Finance Bank Regular Saving Account
Interest Rate Upto Rs. 1 Lakh : 3.50%
Rs. 1 Lakh to Rs.5 Cr : 7.00%
Rs. 5 Cr to Rs.30 Cr : 7.25%
Rs. 30 Cr to Rs.50 Cr : 7.50%
Above Rs. 50 Cr : 0.00% annually Check Best Schemes
Debit Card Rupay/VISA Classic Debit Card,Rupay Platinum Debit Card with chip, VISA Gold Debit Card, VISA Platinum Debit Card and VISA Signature Debit Card.
  • An average monthly balance should be Rs. 10,000
  • Nomination facility
  • NEFT, RTGS, IMPS and Funds Transfer facilities available.

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Equitas Bank Online Saving Account

Saving Account in Equitas Bank – Benefits

You get the following benefits while opening Savings Account with Equitas Bank

Nomination facility Yes
Passbook facility Yes
Chequebook facility Yes
Issuance of Debit Card Yes
Internet Banking Yes
Mobile Banking Yes
Fund Transfer Yes
DD Pay Orders Yes

Equitas Bank Saving Account – charges

Balance non maintenance charges : No charges
ATM Charges: 5 transactions per month in non-metro at nil charges and 3 transactions per month in the metro at nil charges; after that, Financial transactions will cost Rs. 20 per transaction

Equitas Bank Savings Account

Equitas Small Finance Bank offers an interest rate of 0.00% - 7.50% p.a. Equitas Small Finance Bank also offer accounts to meet the specific requirements of salaried, women, kids and senior citizens.

Product Name Minimum Age Minimum Balance Required
Wing Saving Account 18 Years N.A
Regular Saving Account 18 Years N.A
Selfe Savings 18 Years N.A
Elite 18 Years N.A
Edge 18 Years N.A
Basic and Small saving account 18 Years N.A
My saving account 18 Years N.A

Equitas Bank Savings Account Products

Wing Saving Account

Wing Saving Account is a saving account that provides a moderate interest rate plus ideal security.

Resident Indians of 18 years of age and above

Features of Wing Saving Account

  • Higher interest rate
  • Nomination facility available

Debit Card Offered : VISA Signature Debit Card

Balance Non Maintenance Charges : No charges

Regular Saving Account

Equitas Regular Savings Account typically pays a modest interest rate, its reliability and safety make it an excellent option for parking money one wants for short-term needs.

Resident Indians of 18 years of age and above

Features of Regular Saving Account

  • An average monthly balance should be Rs. 10,000
  • Nomination facility
  • NEFT, RTGS, IMPS and Funds Transfer facilities available.

Debit Card Offered : Rupay/VISA Classic Debit Card,Rupay Platinum Debit Card with chip, VISA Gold Debit Card, VISA Platinum Debit Card and VISA Signature Debit Card.

Balance Non Maintenance Charges : No charges

Selfe Savings

Selfe Saving is an instant saving account of Equitas, which can be opened using a web-based video by registering the PAN, Aadhaar and other basic details.

Resident Indians of 18 years of age and above

Features of Selfe Savings

  • No minimum balance required
  • Instant account opening

Debit Card Offered : Virtual Debit Card

Balance Non Maintenance Charges : No charges

Elite

Elite Saving account is for the high net worth individuals. There are few criteria to be met to be the part of the Elite saving account. It provides a moderate interest rate, ideal security, a higher cash deposit limit, and great banking experience.

Resident Indians of 18 years of age and above

Features of Elite

  • NEFT, RTGS, IMPS and Funds Transfer facilities available.
  • Nomination facility available

Balance Non Maintenance Charges : No charges

Edge

Ede Account pays a high-interest rate. Its reliability and safety make it an excellent option for parking money one wants for short-term needs.

Resident Indians of 18 years of age and above

Features of Edge

  • Higher interest rate.
  • NEFT, RTGS, IMPS and Funds Transfer facilities available.

Balance Non Maintenance Charges : No charges

Basic and Small saving account

Basic and Small saving account is aimed at financial inclusion and simplifies banking for people seeking basic facility.

Resident Indians of 18 years of age and above

Features of Basic and Small saving account

  • No average minimum balance
  • Nomination facility available
  • NEFT, RTGS, IMPS and Funds Transfer facilities

Debit Card Offered : RuPay Debit Card

Cash Withdrawal Limit : Rs 10,000

Balance Non Maintenance Charges : No charges

My saving account

My savings account provides a moderate interest rate, ideal security, higher cash deposit limit and great banking experience.

Resident Indians of 18 years of age and above

Features of My saving account

  • No average minimum balance
  • Nomination facility available

Debit Card Offered : RuPay Debit Card and RuPay Platinum Debit Card with Chip

Balance Non Maintenance Charges : No charges

Documents Required

Equitas Small Finance Bank requires the following documents to open a Savings Account

  • KYC documents and photograph

Frequently Asked Questions on Equitas Small Finance Bank Savings Account

How much interest is charged by Equitas Bank on Savings Account?

Equitas Bank offers an interest rate of 0.00% to 7.50% on Savings Account.

What are the balance non - maintenance Charges on Equitas Bank Savings Account?

The Balance Non Maintenance Charges on Savings Account by Equitas Bank are No charges.

What are the Equitas Small Finance Bank ATM Transaction charges on Savings Account?

Equitas Bank ATM Transaction charges on Savings Account are 5 transactions per month in non-metro at nil charges and 3 transactions per month in the metro at nil charges; after that, Financial transactions will cost Rs. 20 per transaction.

How does Equitas Bank calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by Equitas Small Finance Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does Equitas Small Finance Bank offer Debit Card to the account holder?

Yes, various Debit Cards are offered, differing according to the product. Some of the popular savings account products of Equitas Small Finance Bank with the type of debit card offered are listed in the table below.

Wing Saving AccountVISA Signature Debit Card
Regular Saving Account Rupay/VISA Classic Debit Card,Rupay Platinum Debit Card with chip, VISA Gold Debit Card, VISA Platinum Debit Card and VISA Signature Debit Card.
Selfe Savings Virtual Debit Card
Basic and Small saving account RuPay Debit Card
My saving accountRuPay Debit Card and RuPay Platinum Debit Card with Chip

Interest rate on all Equitas Small Finance Bank deposits products listed in the table above is 0.00% to 7.50%

What is the eligibility criteria to open a savings account in Equitas Small Finance Bank
  • Resident Indians of 18 years of age and above
Equitas Bank News - Jul 2020
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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