Bank FD: After Yes Bank, Equitas SFB Reduces Interest Rates On Fixed Deposits – News18
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After the revision, Equitas Small Finance Bank is now offering interest rates between 3.50% and 8.05% on FDs for general citizens and between 3.5% and 8.55% for senior citizens.
FD interest rates vary based on the tenure.
Equitas Small Finance Bank (SFB), a prominent player in the private banking sector, has revised its fixed deposit (FD) interest rates for deposits under Rs 3 crore, with the new rates coming into effect from April 7, 2025. This revision places the bank alongside others like YES Bank, which have also updated their FD offerings recently.
Revised Interest Rates for General Public
Post-revision, Equitas SFB is now offering FD interest rates ranging from 3.50% to 8.05% for regular depositors. These rates vary depending on the duration of the deposit:
Short-Term Deposits
- 7–29 days: 3.50%
- 30–45 days: 4%
- 46–62 days: 4.50%
Medium-Term Deposits
- 63–90 days: 5.50%
- 91–180 days: 6%
- 181–270 days: 7%
- 271–364 days: 7.20%
Long-Term Deposits
- 1 year to 443 days: 7.90%
- 444 days to 18 months: 7.90%
- 18 months 1 day to 2 years (including up to 776 days): 7.75%
- 777 days: 7.77%
- 778–887 days: 7.75%
- 888 days (special rate): 8.05% – highest for general customers
- 889 days to 3 years: 7.75%
- 3 years 1 day to 4 years: 7.50%
- 4 years 1 day to 10 years: 7.25%
Senior Citizen Benefits
Senior citizens enjoy an additional 0.50% interest on all applicable tenures. This preferential rate is exclusively available to resident Indian senior citizens and is not extended to NRE and NRO accounts. With this benefit, senior citizen FD rates now range from 3.50% to 8.55%, with the peak rate applicable to the 888-day deposit scheme.
These updated rates provide a wide range of options for both regular and senior citizen depositors, making Equitas SFB’s FDs an attractive investment avenue in the current interest rate environment.
