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Equitas Bank Savings Account Interest Rates

Equitas Bank Savings Account Interest 2020-21

Last Updated 04th Feb 2021

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%
Apply for Savings Account

Equitas Bank Bank Savings Accounts Interest Rate

Equitas Small Finance Bank offers an interest rate ranging between 3.50% to 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.

Features

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 from 3.50% to 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 Auto Sweep Facility of Equitas Small Finance Bank, your account can be linked to 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

Banks Offering NetBanking Services

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

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FAQs

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

Equitas Bank offers an interest rate of 3.50% to 7.00% 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 3.50% to 7.00%.

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

Eligibility criteria for Equitas Small Finance Bank savings account -

  • All resident Indians of 18 years of age and above can apply for this savings account.

Equitas Bank News - May 2021
  • 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 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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