4,80,000 people visited this section in last 30 daysApply Online

Get Cashback of Upto ₹ 1,000* on Loans Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Equitas Bank Savings Account Interest Rates

Equitas Bank Savings Account Interest 2022

Last Updated 14th Jan 2022

Saving Account Interest Rate
Wing Saving Account 3.50% - 7.00%
Regular Saving Account 3.50% - 7.00%
Selfe Savings 3.50% - 7.25%
Elite 3.50% - 7.00%
Edge 3.50% - 7.00%
Basic and Small saving account 3.50% - 7.00%
My saving account 3.50% - 7.00%
Yes Bank
Returns bhi, Rewards bhi
5.5%* interest p.a + up to 1500** YES Rewardz Points on account opening
Earn up to 50k** YES Rewardz Points in 1st year
Exclusive offers on Demat & Lockers
OPEN YOUR ACCOUNT DIGITALLY NOW
Disclaimer: For balance above INR 10 lcs to INR 1Cr. For YES FIRST customers. Terms and conditions apply. For more details please visit: www.yesrewardz.com
Apply for Savings Account

Equitas Bank Bank Savings Accounts Interest Rate

Equitas Small Finance Bank offers an interest rate ranging upto 7.00% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With Equitas Small Finance Bank Savings Account youth and minors can get additional benefits on their Savings Account. Equitas Small Finance Bank also offers attractive benefits like mobile and internet banking services, free Debit Card and customised savings account depending on different customer profiles.

Features and Benefits

Equitas Small Finance Bank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on Equitas Small Finance Bank Savings Account varies as per the Savings Account product. Some of the key features and benefits of Equitas Small Finance Bank savings account are:

  • It offers interest rates upto 7.00% p.a. You can easily access Equitas Small Finance Bank Savings Account anywhere through a large network of branches and ATMs .
  • If you want to transfer funds from Equitas Small Finance Bank Savings account to any other bank account, you can do it through modes such as RTGS , IMPS, NEFT and UPI facilities.
  • Equitas Small Finance Bank personalized account number and cheque book enhances security and ensures your money is safe.
  • You can get SMS Alerts and e-statement facilities with Equitas Small Finance Bank Savings Account.
  • With the Auto Sweep Facility of Equitas Small Finance Bank, your account can be linked to a Multi Option Deposit MOD account.

Equitas Bank Savings Account Rates

Saving Account Interest Rate Minimum Balance
Wing Saving Account 3.50% - 7.00% N.A
Regular Saving Account 3.50% - 7.00% N.A
Selfe Savings 3.50% - 7.25% N.A
Elite 3.50% - 7.00% N.A
Edge 3.50% - 7.00% N.A
Basic and Small saving account 3.50% - 7.00% N.A
My saving account 3.50% - 7.00% N.A

Eligibility & Documentation Required for Opening Savings Account in Equitas Small Finance Bank

To open a savings account in Equitas Small Finance Bank, you need to fulfill the following eligibility criteria:

  • You need to have valid KYC Documents.
  • You can open a savings account singly or jointly.

Documents Required

You can open a savings account with prescribed application form and minimum KYC documents, which are mentioned below:

  • Application Form with attested photographs
  • Proof of identity- Passport, Voter ID card, PAN Card, Govt./Defence ID card, Driving Licence etc.
  • Proof of current address- Credit Card Statement, Salary slip, Electricity Bill/Telephone Bill, ration card etc.

How is Equitas Small Finance Bank Savings Account Interest Rate Calculated?

As per the RBI mandate, Equitas Small Finance Bank calculates saving account rate on average balances in the account on a daily basis. The interest can however be paid monthly, annually or quarterly. The following formula is used by Equitas Small Finance Bank to calculate interest on Savings Bank Account on the basis of daily balance in the account

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

Compare Savings Account Interest Rates of All Banks

Equitas Bank Savings Account Products

  • Wing Saving Account : Equitas Small Finance Bank offers interest rates ranging between 3.50% to 7.00% on Wing Saving Account.You can open a Wing Saving Account in Equitas Small Finance Bank by depositing amount as minimum balance.
  • Regular Saving Account : If you have deposited your excess funds in a Regular Saving Account , you can get interest at 3.50% to 7.00% on your account. This account can be opened by anyone with a minimum age of 18 Years.
  • Selfe Savings : Equitas Small Finance Bank provides interest rates ranging between 3.50% to 7.25% on Selfe Savings. The minimum balance requirement to open this account is .
  • Elite : You can get interest at 3.50% and 7.00% respectively on Elite in Equitas Small Finance Bank. The account can be opened in Equitas Small Finance Bank by depositing amount.
  • Edge : If you have deposited your excess funds in a Edge , you can get interest at 3.50% to 7.00% on your account.
  • Basic and Small saving account : You can get interest at 3.50% to 7.00% in Basic and Small saving account . This account can be opened in Equitas Small Finance Bank by depositing a minimum amount of after an age of 18 Years.
  • My saving account : The interest that you can earn on My saving account is in the range of 3.50% to 7.00% respectively.The debit card available for this product isRuPay Debit Card and RuPay Platinum Debit Card with Chip

FAQs

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

As per the current rates, Equitas Small Finance Bank offers maximum interest rate of 7.00% on Savings Account. Equitas Small Finance Bank provides this interest on the minimum balance maintenance of . The interest rate may however vary across the Equitas Small Finance Bank savings account product.

What is the minimum amount required for opening Savings Account in Equitas Small Finance Bank?

The minimum amount required for opening a Savings Account in Equitas Small Finance Bank is .

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

The Balance Non Maintenance Charges on Savings Account by Equitas Small Finance Bank are No charges.The minimum balance requirement in Equitas Small Finance Bank savings account is .

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

Equitas Small Finance Bankcharges ATM Transaction 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.This charge may further depend upon the savings account product of Equitas Small Finance Bank and the debit card types offered with the bank.

How does Equitas Small Finance 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, Equitas Small Finance Bank offer Debit Cards to the account holders 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

What is the eligibility criteria to open a savings account in Equitas Small Finance Bank?

To open a savings account in Equitas Small Finance Bank you need to fulfill the following eligibility criteria:

  • All resident Indians of 18 years of age and above can apply for this savings account.
  • You must have your basic KYC done

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 7.05%.

    Invest Now
Equitas Bank News - Jan 2022
  • 2020-11-17 : Equitas Small Finance Bank launched a special women savings account
    ESFB announced the launch of a women Eva savings account paying 7% interest. In every aspect, such as fitness, wealth and stability, Eva aims to address the well-being of Indian women. It also provides free health checks and unrestricted tele-consultation with women physicians, gynaecologists and mental health professionals. It also provides female clients with PF waiver and reduced gold loan rates, along with 25-50% discounts on lockers.
  • 2020-06-10 : Equitas Small Finance Bank increased interest on saving account deposits
    Equitas Small Finance Bank hiked the rate of interest on savings accounts having deposits between Rs 1 lakh to Rs 5 crore to 7% per annum from 5.5%. The move is aimed at attracting new customers.
  • 2020-01-07 : Equitas Small Finance Bank waived of non-maintenance charges on saving account
    Equitas Small Finance Bank has waived non-maintenance fees on savings accounts and has also reduced transaction charges. The aim is to increase the customer base by reducing the extra cost for them. Currently, the Bank is offering interest rates up to 7.5% on savings accounts.
*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
Loader
Please wait while your information is being processed...