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- Introduces new slabs offering higher rates to encourage the saver community
- The increased interest rates will be effective from 10th听January, 2025
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Bengaluru, 10 January 2025:听Equitas Small Finance Bank Limited, one of India海角直播 largest SFBs, has announced the revised interest rates for its savings accounts customers. The hike in听interest rates will be effective from 10th听January, 2025.
The revised savings account interest rates offer customers attractive opportunities to grow their savings. Balances up to 鈧1 lakh will continue to earn an interest rate of 3.00%, while the听extended slab听for balances between 鈧1 lakh and 鈧10 lakhs will provide an interest rate of听5.00%. Furthermore,听newly introduced slab听for balances above 鈧 10 lakhs and upto 鈧 25 lakhs deliver an interest of听7%. Another new slab for balances ranging from 鈧25 lakhs to 鈧1 crore offers a rate of听7.25%, and balances from 鈧1 crore to 鈧25 crores will earn听7.50%. For balances above 鈧25 crores, the existing rate of 7.80% remains unchanged.
With these changes, Equitas Small Finance Bank reiterates its commitment to providing industry-best rates and unparalleled benefits for its customers.听Murali Vaidyanathan, Senior President and Country Head 鈥 Branch Banking 鈥 Liabilities, Products & Wealth at Equitas Small Finance Bank, said,听鈥淚n today海角直播 dynamic financial environment, liquidity holds paramount importance. At Equitas, we are proud to be our customer海角直播 trusted partner ensuring growth and security for their savings. By offering a range of competitive savings account interest rates, including options above 7%, we aim to empower our customers to maximize their benefits through disciplined saving. With the new slabs in force, we continue to uphold the Power of 7 for our customers, benefits of which can easily be availed by opening an online account through our website or visiting any Equitas branch. We are dedicated to offer premium banking services and look forward for our customers to join the transformative journey towards greater financial growth. More you save with us, you will get higher yield & return鈥
Savings Account interest will be accrued daily and paid on Quarterly basis.听Refer the link for interest calculation:听https://onelink.to/birc听or visit our website:听https://www.equitasbank.com/
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| Savings Account Interest Rate | |
| Daily Closing Balance | Revised rate of interest w.e.f. 10th听Jan 2025 |
| Rate Slab | |
| Upto 鈧 1 lakh | 3.00% |
| Above 鈧 1 lakh and upto 鈧 10 lakhs | 5.00% |
| Above 鈧 10 lakhs and upto 鈧 25 lakhs | 7.00% |
| Above 鈧 25 lakhs and upto 鈧 1 crs | 7.25% |
| Above 鈧 1 crs and upto 鈧 25 crs | 7.50% |
| Above 鈧 25 crs | 7.80% |
