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Equitas SFB Introduces 444 Days Special Tenure FD, Offers Up To 8.50% Interest
Equitas Small Finance Bank, one of the leading SFBs, has announced a new tenure for Fixed Deposits (FDs) in Domestic and NRE/ NRO Interest Rates Accounts. According to the Bank's statement, the revised interest rates will be effective from 05 th June 2023.
The bank has introduced a new 444-day tenure FD with an interest rate of 8.5% for deposits less than Rs. 2 crore. In addition, the bank continues to offer interest rates on RD investments with terms ranging from 12 to 120 months.
This new slab will be available to both domestic and NRE/NRO account holders. Furthermore, domestic senior residents will receive an additional 0.50% discount on the FD and RD rates. All account types will continue to receive quarterly interest payments.
The bank offers Interest rates on FD ranging from 3.50% to 8.50% to the general public for tenure that ranges from 7 days to 10 years under Rs. 2 Crore.
Fixed Deposit Rates (amount less than Rs. 2 crore) Effective from 5th June, 2023
| Tenure | Interest rates for amount less than Rs 2 crores | Annualised Yield |
|---|---|---|
| 7 - 14 days | 3.50% | 3.50% |
| 15 - 29 days | 3.50% | 3.50% |
| 30 - 45 days | 4.00% | 4.00% |
| 46 - 62 days | 4.50% | 4.50% |
| 63 - 90 days | 4.50% | 4.50% |
| 91 - 120 days | 5.25% | 5.25% |
| 121 - 180 days | 5.25% | 5.25% |
| 181 - 210 days | 6.25% | 6.35% |
| 211 - 270 days | 6.25% | 6.35% |
| 271 - 364 days | 6.25% | 6.35% |
| 1 year to 443 Days | 8.20% | 8.46% |
| 444 Days | 8.50% | 8.77% |
| 445 Days to 18 Months | 8.20% | 8.46% |
| 18 Months 1 day to 2 years | 7.75% | 7.98% |
| 2 years 1 day to 887 days | 8.00% | 8.24% |
| 888 days | 8.50% | 8.77% |
| 889 days to 3 years | 8.00% | 8.24% |
| 3 years 1 day to 4 years | 7.50% | 7.71% |
| 4 years 1 day to 5 years | 7.25% | 7.45% |
| 5 years 1 day to 10 years | 7.25% | 7.45% |
Source - Equitasbank.com
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