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Equitas Small Finance Bank increases interest rates on savings and retail term deposits

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Capital Market
Last Updated : Mar 21 2022 | 3:31 PM IST

With effect from 21 March 2022

Equitas Small Finance Bank announced the revision of interest rates for Savings and Retail Term Deposits from 21 March 2022.

Customers can now avail 7% interest p.a. on Savings Account for balances above Rs 5 lakh up to Rs 2 crore, which was earlier above Rs 5 lakhs up to Rs 50 lakhs, making it simpler for more customers to earn more interest through saving.

Senior citizens can now earn maximum benefits as the Bank offers them a flat rate of .50% extra over existing revised rates on RTDs. For FD, senior citizens can now earn an interest of 7.25% p.a. for 888 days and the others can get upto 6.75% p.a. When it comes to RD, senior citizens can get 7% p.a. and others can get upto 6.5% p.a. interest for 24 months.

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First Published: Mar 21 2022 | 3:21 PM IST

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