Equitas Small Finance Bank 2024 –Sent off in 2007, Equitas Small Money Bank offers microfinance administrations. The bank offers homegrown, NRI, and NRO fixed stores. The Small money bank offers financing costs for fixed stores in the scope of 3.50% p.a. to 8.20% p.a. for residencies going from 7 days to 10 years. Senior residents get an extra loan cost of 0.50% p.a. across all residencies. The most noteworthy loan cost presented by the bank for homegrown fixed stores is 8.20% p.a. for the overall population for a residency of 888 days. NRE fixed store rates likewise fall in the scope of 7.00% p.a. to 8.20% p.a. for residencies going from 1 year to 10 years.
Equitas Small Finance Bank is a financial institution that provides small-scale loans to individuals and small businesses in developing countries. The bank was founded in 2011 by former Goldman Sachs executive Dr. Amadeo Guattari and other leading financial experts and practitioners. Equitas aims to promote financial inclusion by providing affordable loans to those who may not have access to traditional banking services. The bank also seeks to reduce poverty and inequality by building strong local economies through the provision of sustainable finance.
Equitas Small Finance Bank 2024
The FD interest rates at Equitas Small Finance Bank range from 3.50 to 8.20% per annum. to the general public and between 4% and 7.0% per year. to senior citizens for periods of seven days to ten years. Additionally, the bank provides NRIs with a variety of products for fixed deposits, including NRO and NRE fixed deposits. Because the Reserve Bank of India (RBI) has designated Equitas Small Finance Bank as a scheduled bank, its depositors are eligible for deposit insurance from the Depositor Insurance and Credit Guarantee Corporation (DICGC). In the event of a scheduled bank’s failure or merger or amalgamation, the deposit insurance cover provided by DICGC, a subsidiary of the RBI, safeguards each depositor’s fixed, savings, current, and recurring deposits up to Rs 5 lakh.
Chennai-based Equitas Small Finance Bank is a financial institution. Customers can invest in one of several fixed deposit plans to protect their savings and earn interest on their deposits. Typically, fixed deposits are long-term investments in which the customer can lock in a predetermined amount and receive guaranteed returns. The Equitas Small Finance Bank FD calculator will assist the customer in selecting a fixed deposit plan that meets his or her requirements.
Equitas Small Finance Bank 2024 Interest Rate For FD Details
| Bank Name | Equitas Small Finance Bank |
| Article Name | Equitas Small Finance Bank Interest Rate For FD |
| Category | Trending |
| Official Website | Click Here |
About Equitas Bank
Equitas Bank is a financial institution that offers high-quality financial products and services for individuals, businesses, and institutions. Equitas Bank was founded in 2007 by a group of committed individuals who recognized the need for a trusted and trustworthy bank that serves the community with integrity and compassion. Equitas Bank’s team of professionals is dedicated to providing personalized service and superior customer support.
We are proud to offer a wide range of products, including business loans, mortgages, credit cards, investment accounts, and private banking services, all designed to meet the needs of our diverse clientele. Equitas Bank is committed to promoting financial literacy and empowering our clients to take control of their finances by making informed decisions. In addition to our commitment to providing high-quality products and services, we also make a conscious effort to give back to the community through volunteer programs and philanthropic initiatives. If you are looking for a dependable and trustworthy financial institution, look no further than Equitas Bank.
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Types of Equitas Small Finance Bank FD Schemes
There are several types of Equitas small finance bank (SFB) FD schemes. These include regular SFB FD schemes, which are similar to traditional bank FDs. Other types of SFB FD schemes include high-yield SFB FD schemes, which pay higher interest rates than regular SFB FD schemes. There are also hybrid SFB FD schemes, which offer the best of both worlds by combining the convenience and accessibility of a regular SFB FD scheme with higher interest rates. Additionally, Equitas small finance banks provide other financial services such as savings accounts, loans, and insurance.
Regular Fixed Deposit (With Reinvestment of Interest Component)
- The scheme allows the interest portion of the deposit to be reinvested.
- Senior citizen FD depositors can also get 0.50% interest rates.
- There are also monthly and quarterly payout options.
- With the monthly interest pay-out option, the interest rate will be discounted on a quarterly basis.
- There is a nomination facility.
- There is no sweep-in facility for deposits booked at preferential rates.
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Selfe Fixed Deposit
- Up to 6.110 percent per annum, depositors can earn higher interest.
- FD accounts can be opened without a savings account for a year.
- Deposit amount: 5,000 rupees minimum; Maximum of Rs. 90,000.
- Senior citizen FD depositors have access to an additional 0.50% interest rate for up to 365 days.
- If they choose the monthly interest pay-out option, the interest rate will be discounted on a quarterly compounding basis.
Premature Withdrawal of Fixed Deposits – Penalty Charges
- After deducting the 1% penalty rate from the applicable rate, interest will be paid.
- The base rate that applies to the original or contracted tenure or, whichever is lower Equitas Bank, the base rate that applies to the deposit period for which the FD remained with the bank is the rate that applies.
- No punishment is collected on untimely withdrawal of
- Ordinary fixed stores over a half year
- Selfe FD having finished 180 days or more
- Senior residents Selfe FD
- Other senior resident FDs opened on or after second December 2019 (not appropriate for gathering)
- Untimely withdrawal isn’t permitted in the accompanying cases:
- The partial premature withdrawal facility is not available for deposits booked under preferential rates. The partial premature withdrawal facility is not permitted for deposits booked with a
- monthly payout. FDs booked on or before 1 March 2019 for deposits of Rs 2 crore or more
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Equitas Small Finance Bank FD Interest Rates
| Tenure | Interest rates for amount less than Rs.2 crore |
| 7 days to 14 days | 3.50% |
| 15 days to 29 days | 3.50% |
| 30 days to 45 days | 4.00% |
| 46 days to 62 days | 4.25% |
| 63 days to 90 days | 4.25% |
| 91 days to 120 days | 5.00% |
| 121 days to 180 days | 5.00% |
| 181 days to 210 days | 6.00% |
| 211 days to 270 days | 6.00% |
| 271 days to 364 days | 6.00% |
| 1 year to 18 months | 7.70% |
| 18 months 1 day to 2 years | 7.50% |
| 2 years 1 day 887 days | 7.75% |
| 888 days | 8.20% |
| 889 days to 3 years | 7.75% |
| 3 years 1 day to 4 years | 7.25% |
| 4 years 1 day to 5 years | 7.00% |
| 5 years 1 day to 10 years | 7.00% |
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NRE FD Interest Rates for deposits less than Rs. 2 crores w.e.f. 1 March 2024
| Tenure | Interest Rates (% p.a.) |
| 1 year to 18 months | 7.70 |
| 18 months 1 day to 2 years | 7.50 |
| 2 years 1 day to 887 days | 7.75 |
| 888 days | 8.20 |
| 889 days to 3 years | 7.75 |
| 3 years 1 day to 4 years | 7.25 |
| 4 years 1 day to 5 years | 7.00 |
| 5 years 1 day to 10 years | 7.00 |
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Advantages of Equitas Small Finance Bank FD Calculator
Equitas Small Finance Bank FD calculator is a tool that helps investors calculate the advantages of investing in Equitas Small Finance Bank FD. It provides information on how much money can be saved by using this particular bank, as well as other insights into its financial stability. The calculator uses several factors to determine these advantages, such as the bank’s FDIC insurance coverage and its average interest rate. By using this tool, you can determine whether Equitas Small Finance Bank FD is the right bank for you and your financial needs.
Customers can benefit from using the Equitas Small Finance Bank FD Calculator in the following ways:
- It encourages financial discipline as a habit. Customers will be able to form the routine of regularly saving once they use the calculator. They will be able to create a large corpus thanks to this.
- It is sans bother. The FD calculator is simple to use, and each step is easy to understand.
- It comes at no cost. As a result, the customer will not be required to pay any additional fees in order to make use of this digital device.
- The customer has the chance to compare products. The rate of interest, for instance, can be easily compared by the customer.
- It can be used from any location. As a result, the customer has access to this digital tool at any time of day, from any location, at any time.
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Conclusion
Equitas Small Finance Bank 2024 Interest Rate For FD, RD, Forex Calculator Conclusion. The Equitas Small Finance Bank is a great financial institution that offers competitive rates and high-quality service to its customers. It is owned by the government of Sri Lanka and provides financial services to individuals, small businesses, and public sector organizations. The Equitas Small Finance Bank’s interest rate for deposits, loans, and forex transactions are all very competitive and are suitable for individuals and groups with low credit risk and limited banking needs. In conclusion, the Equitas Small Finance Bank is a high-quality financial institution offering competitive rates and excellent service to its customers.
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