With effect from 14 December 2022
Equitas Small Finance Bank announced the revised interest rates for savings, Fixed Deposits as well as Recurring Deposits in Domestic and NRE/ NRO Interest Rates Accounts. The hike in interest rates will be effective from 14 December 2022.
The hike will allow savings account customers to gain 7% interest who have a closing balance above Rs. 5 crore upto Rs. 30 crore. There is also an increase in interest rates on Fixed Deposits and Recurring Deposits with the peak rate being at 8% and 7.75% respectively. This is applicable not just for domestic accounts, but also NRE/ NRO accounts. Furthermore, domestic senior citizens will receive 0.50% extra on the FD and RD rates. The interest payouts will continue to be quarterly across all account types.
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