Equitas Small Finance Bank Ltd, one of the leading small finance banks, has announced the revision of interest rates for Fixed Deposits Domestic and NRE/ NRO Interest Rates Accounts, and has come out with a special interest rate offer on entering its 7th year of successful banking. The offer, however, stays valid only for 7 days from 1st to 7th September, 2022.
In this offer the customers can now avail upto 7.32% interest per annum on 888 days’ fixed deposit. Under this offer, the interest rates for senior citizens have been increased to 7.82% and for its NRE customers to 7.47%.
The interest payout options under this special offer are monthly and quarterly. Additionally, the customer can procure higher interest rates for tenure greater than 1 year and up to 3 years. The offer is not applicable for fresh NRE Funds.
Moreover, the festive season is about to start in India from September onwards and it is an opportune time for the bank to provide depositors the necessary benefits on savings and fixed deposits to customers especially in the hinterlands of India.
Commenting on the same, Murali Vaidyanathan, Senior President and Country Head, Equitas Small Finance Bank, said, “It is our unique way to thank our customers, while we enter our 7th year, who have constantly supported us throughout this journey. We believe that adding value through right price transmission is the key objective of our institution. Additionally, fixed income securities such as fixed deposits can add tremendous value for all our household, and senior citizens customers. Our customers are our family and we always work towards catering them with best product offering in tandem to their financial requirements.”