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Equitas FD Interest Rates

6.60%
1 Year
5.25%
9 Months
5.25%
6 Months
4.75%
3 Months
Overview of Equitas Bank FDs
3.50% - 6.00%
Interest rates
7 Days - 10 years
Time Period
5000 - No Limit
Min. - Max amount
QUARTERLY
Compounding

About Equitas Bank

Equitas Small Finance Bank, as the name suggests, is a small finance bank founded by Equitas in the year 2007 as a microfinance lender. The bank is headquartered in Chennai and had received a license from the Reserve Bank of India on 5th September 2016 as a subsidiary of holding company Equitas Holdings Ltd. Subsequently, Equitas became a scheduled commercial bank effective 4th Feb 2017. The Equitas small finance bank is popular for extending savings and locker facilities. Equitas Small Finance fixed deposit scheme also remains one of the most sought-after financial products from this bank.

The Equitas Bank FD rates and lucrative features account for the scheme’s growing popularity. It is regarded to be a useful means of mobilizing small savings and generating steady returns.

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Started On2016
Head QuartersChennai
CRISIL RatingA+
CEOVasudevan P N
Listed on exchange asEquitas Small Finance Bank Ltd
ICRA RatingNA

Equitas Bank FD Rates 2022

TenureRegular customersSenior citizens
1
2

Features and Benefits of Equitas Fixed Deposit

  • Safe to Invest
  • Attractive interest rates
  • Premature withdrawal available and no penalty if withdrawal above 6 months
  • The minimum and maximum deposit amount for Equitas FD is Rs. 5000 and no cap on maximum investment
  • Interest frequency available
  • The tenure for Equitas Bank FD ranges from 7 days to 10 years 
  • Loan against FD available
  • Auto-renewal and nomination facility available

Types of Equitas Bank FD Schemes

Equitas Regular Fixed Deposit

  • An account can be opened for a tenure ranging between 7 days and 10 years.
  • It allows auto-renewable and nomination facilities.
  • FD holders can withdraw prematurely from their account but will get a lower interest rate by 1% if withdrawn before 6 months from the date of opening the account.

Equitas Selfie FD

  • It can be opened instantly with the help of PAN and Aadhaar.
  • It comes with a tenure ranging between a week and a year.
  • Account-holders can withdraw from their account prematurely. They will, however, get a 1% lower interest rate than it was displayed at the time of account opening in case the amount is withdrawn before 180 days.
  • The FD comes with a nomination facility.
  • One can open an Equitas Selfie FD with any amount ranging between Rs. 5000 and Rs. 90000.

Term wise Equitas Fixed Deposit Rates

Short-term Deposits

For an Equitas Bank FD with tenure ranging from 7 days to 12 months, the interest rate offered is from 3.50% – 5.15% p.a. These deposits are known as short-term deposits as their tenure is less than 1 year.

Medium-term Deposits

Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits is around 5.15% to 6.25% p.a.

Long-term Deposits

These deposits have their tenure ranging from 5 years to 10 years and offer an interest rate of 6.50%.

Equitas vs Other Banks' FD Rates

NameTenureInterest rate
1
2
3
4
5

How to invest in Equitas FD?

An Equitas Small Finance Bank FD account can be opened through online and offline modes-

1) Online Method

  • Visit the Equitas Small Finance Bank's official website.
  • Under the top menu, select the 'Personal' option, then 'Banking', then, 'Deposits', and lastly 'Fixed Deposit'.
  • Select ‘Open FD’.
  • Fill out the form that will get displayed. Click on ‘Submit’.
  • A bank official will connect the customer through email/phone for further processing of booking the FD.

2) Offline Method

For opening an Equitas Small Finance Bank FD account via offline mode, one has to visit the nearest Equitas Small Finance Bank branch. Fill out the Equitas Small Finance Bank FD application form and present all the necessary documents with the deposit amount. On successful verification of the application, an FD will be opened.

Eligibility to Open an Equitas FD Account

Individuals or entities satisfying the following criteria can opt for a fixed deposit in Equitas Small Finance Bank –

  • All resident individuals
  • Partnership firms
  • Hindu undivided families (HUFs)
  • Sole proprietors
  • Trust accounts
  • Limited companies

Documents Required to Open Equitas FD

The following documents have to be furnished for opening an Equitas Small Finance Bank FD –

  • A fixed deposit application form
  • PAN Card
  • ID proof (Passport, PAN Card, Driver’s License, Aadhar Card)
  • Passport size photographs
  • Address proof (Aadhar Card, Electricity Bill, Telephone bill, other utility bills)
  • Age proof (Birth certificate, Discharge certificate matriculation certificate, PAN Card)

FAQs

Is it safe to invest in Equitas Bank FD?

Equitas Bank is a scheduled commercial bank and is registered with RBI. Furthermore, the lender has got a stable rating by CRISIL as well and is also listed on the stock exchange. If you are a risk-averse investor and seeking a safe investment option, Equitas Bank FD can be considered as one of the options as the deposits are covered by Rs 5 lakh insurance by RBI. (deposits are insured by Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of RBI)

Is premature withdrawal allowed?

Yes, premature withdrawal is available on Equitas FD. Generally, if the amount is withdrawn before maturity, banks pay out a lower interest amount than that displayed at the time of booking the FD. This is done to discourage frequent withdrawals and encourage continued savings. In the case of Equitas, if the FD is withdrawn within 6 months, the bank will pay a 1% lower interest than the applicable interest rate at the time of booking the FD. Post 6 months however you will get the entire interest amount.

What is the minimum deposit amount for Equitas FD?

The minimum investment amount starting an FD with Equitas is Rs. 5000.

Is a loan against FD available in Equitas FD?

Yes,  Equitas Small Finance Bank provides its customers with a loan against the FD facility.

What are the schemes provided by Equitas Bank for FDs?

Equitas Small Finance Bank provides two distinct types of FD schemes to the public - Regular Equitas FD and Equitas Selfie FD.

High Interest Rates
FDs without Savings Account
Insured upto 5 Lakhs by RBI
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