Equitas Small Finance Bank
Equitas Bank
| Product | Interest Rate |
|---|---|
| Fixed Deposit | 3.60% to 7.30% |
| Recurring Deposit | 6.40% to 7.15% |
| Savings Account | 3.50% to 7.00% |
| MCLR | 15.90% to 16.25% |
Equitas Bank
Equitas Small Finance Bank was set as a small finance bank as per the regulations made in the Union Budget of 2014-2015. In adherence to how a Small Finance Bank should function, Equitas Small Finance Bank is regulated by the Reserve Bank of India under the Banking regulations Act of 1949. The Bank was set to fulfil the needs of the population that has been unbanked and untouched by the commercial banking sector. The functionalities of the Small Finance Banks have been exclusively designed to fulfil the financial needs of the underprivileged masses, by providing basic activities like deposits and lending. Equitas Small Finance Bank provides various banking services to its customers like deposits, locker facilities, Insurance facilities, loans, and Internet Banking, among others.
About Equitas Small Finance Bank
The current CEO of Equitas Small Finance Bank is Mr. Vasudevan Pathangi Narasimhan. Further, the registered address of the Equitas Bank is 410A, 4th Floor, Spencer Plaza, Phase II No.769, Mount Road, Anna Salai Chennai Chennai TN 600002 IN. In case of grievances, customers can contact the Bank’s compliance officer, Mr. Srinivasan Purohit by mailing him at customerservice@equitasbank.com or by calling on 044 4299 5000. In addition to that, to raise any further queries, the compliance officer can be reached out at 410A, 4th Floor, Spencer Plaza
Equitas Small Finance Bank Product Details
Savings and Current Accounts
Equitas Bank Debit Cards
Equitas Bank Deposits
Equitas Small Finance Bank Fixed Deposit
Equitas Small Finance Bank Recurring Deposit
Equitas Small Finance Bank Loan
Equitas Bank offers both secured and unsecured loans to its customers, like Home loans, personal loans, car loans, and business loans at affordable interest rates. Equitas Small Finance Bank is accustomed to lend more than 75% of its Adjusted Net Credit for the priority sector. This includes lending funds to poor people for housing, lending to farmers for agriculture and allied activities, lending to micro and small industries, and lending to weaker sections of the society.
| Loan products | Feature |
|---|---|
| Personal Loan | Unsecured loan offered on the basis of credit score to meet one’s personal expense. |
| Car Loan | Secured loan offered for the purchase of a car, where the car acts as collateral. |
| Home Loan | Secured loan offered for the purchase, renovation or construction of a house. |
| Gold Loan | A secured loan where the borrower can mortgage their gold to borrow funds against it. |
| Business loan | Loans offered to business units for undertaking business activities like purchase of plant and machinery, purchase of equipment, to undertake construction or to meet day to day expenses. |
Compare Rates of Small Finance Banks
Equitas Bank Netbanking Registration and log in
To add more to the convenience of the customers, Equitas Small Finance Bank offers net banking facility to the customers. The bank’s digital banking platform is hassle-free and easy to use. All customers with savings or current accounts can have access to Equitas Small Finance Bank net banking or mobile banking platform. One can register for Equitas Small Finance Bank net banking by following the below-mentioned steps:
Why Equitas Small Finance Bank?
The Equitas Small Finance Bank is a go-to-option when it comes to choosing the right bank for your banking needs because of the following reasons:
FAQs
✅Is Equitas Small Finance Bank safe?
Similar to commercial banks, Equitas Small Finance Bank is safe and secure as it is regularized by RBI.
✅Can Equitas Small Finance Bank accept deposits?
Equitas Small Finance Bank is a small finance bank that was set to provide banking activities to the underprivileged people. This bank conduct basic banking activities like deposits and lending.
✅Is Equitas Small Finance Bank approved by RBI?
Equitas Small Finance Bank is approved by RBI under the Banking regulations Act of 1949.
✅Is Equitas Small Finance Bank FD a safe option to invest?
Equitas Small Finance Bank provides fixed deposits investment facility to its customers. The Bank provides highest interest of 7.30% to its customers. The interest rate provided by Equitas Small Finance Bank is comparatively higher than any commercial bank. Also, the FDs are equally safe in this bank.
✅Can I take a loan from Equitas Small Finance Bank?
Yes, you can opt for a loan from Equitas Small Finance Bank. Equitas Bank provides loan products loans like home loan, personal loans and business loans, among others.
- 2021-02-04 : Revised MCLR for Equitas small finance Bank
Equitas small finance Bank revised its MCLR with effect from 1 February 2021. The overnight and one-month MCLR is 12.15% and 11.95%, respectively. MCLR for three months, six months and one year stand at 11.85%, 12.45% and 12.50%, respectively. - 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. - 2020-06-02 : 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. - 2020-06-01 : Equitas small finance Bank changed its MCLR
Equitas small finance Bank revised its MCLR. The overnight and one-month MCLR is 13.45% and 13.15%, respectively. MCLR for three months, six months and one year stand at 13.05%, 13.60% and 13.70%, respectively. The revised rates are in effect from June 1 2020.
