Equitas Small Finance revises interest rate on fixed deposits

: Private sector Equitas Small Finance Bank has revised the interest rate on fixed deposits, the bank said on Tuesday.

Equitas offers interest on fixed deposits at 8.25 per cent per annum for a tenure of 888 days.

Senior citizens would receive additional benefit of 0.60 per cent making it to 8.85 per cent per annum.

The revision in interest rate is with immediate effect, a press release said.

"The fixed deposit tenure starts from seven days to 10 years to suit the requirement of investment and capital creation," it said.

Interest rate for amount less than Rs two crore has been fixed at 5 per cent for 7-14 days, 5.50 per cent for 15-29 days.

For 30-45 days, the rate is 6 per cent and 6.25 per cent for 46-62 days and 63 days to 90 days.

For 91 to 120 days, the rate is 6.50 per cent which is also for deposits ranging from 121 days to 180 days.

For deposits of 181 days to 321 days, the rate is 6.75 per cent and it's the same for deposits ranging from 211 to 270 days.

For deposits of 271 to 364 days, it is 7.50 per cent.

For one year to 18 months, the rate has been fixed at 8 per cent and for 18 months 1 day to two years it is 7.70 per cent.

For deposits of two years and to 887 days, the rate is 7.80 per cent.

For deposits of upto 888 days, the rate is 8.25 per cent and for 889 days to 3 years, it is 7.80 per cent, the release added.