Equitas Small Finance Bank Savings Account

Equitas Small Finance Bank, a renowned bank in India, offers attractive Equitas Bank savings account interest rates that go up to 7% on a minimum average balance that has been maintained in a savings account. It will calculate the interest rate on a daily basis.

The interest that has been paid to the Equitas Bank savings account holder will be credited every quarter. Through Equitas savings accounts, even minors and younger children can get the benefits of savings accounts. The bank also offers mobile and internet banking services that make it easier for individuals to use the services that are provided by the bank.

Equitas Savings Account Interest Rate

Here is the table that shows the Equitas Small Finance Bank interest rates:

Account Type

Rate of Interest

Regular Savings Account

3.50% - 7.00%

Wing Savings Account

3.50% - 7.00%

Elite Savings Account

3.50% - 7.00%

Edge Savings Account

3.50% - 7.00%

Basic Savings Account

3.50% - 7.00%

My Savings Account

3.50% - 7.00%

Self Savings Account

3.50% - 7.00%

Characteristics of the Equitas Small Finance Bank Savings Account

Equitas Small Finance Bank offers you saving accounts that will enable you to save idle money through added interest rates and other benefits.

Mentioned here are some of the varied characteristics of the Equitas Bank savings account-

a) Equitas Small Finance Bank offers up to a rate of interest of 7% per annum. 

b) You can also utilize the services of the bank from anywhere through a large number of branches and ATMs that are spread across the country.

c) You will be enabled with SMS alerts and e-statements that help digital banking.

d) You can choose to transfer funds through the bank to any other bank or an account with the same bank through RTGS, IMPS, UPI, and NEFT.

e) Equitas Small Finance Bank also has personalized account numbers, and cheque book facilities to enhance security and ensure more safely handles money.

f) Equitas Small Finance Bank also has an auto sweep facility where the account can be linked to multiple option deposit MOD accounts.

How to Apply for the Equitas Small Finance Bank Savings Account?

You can either visit the nearest branch of the bank to open your savings account, or you can apply to open a savings account online through the official portal.

Who is Eligible to Open an Equitas Bank Savings Account?

A savings bank account could be opened by a resident Indian, a non-resident Indian (NRI), a Hindu Undivided Family (HUF), or a foreign national. Minors can also open a Minor Account, which is a savings account.

Documents that are Required to Apply for the Savings Accounts from Equitas Small Finance Bank

In order to open an account with Equitas Small Finance Bank, an individual will be required to carry along the below-mentioned Valid KYC documents such as-

  • Aadhaar, PAN, Voter ID, license, or passport
  • Passport size photographs
  • Application form
  • Bank statement

 

Charges of the Equitas Small Finance Bank Savings Account

AMB

Rs. 2,500 - Rs. 10,000

Non-Maintenance charges

Nil

Types of Equitas Small Finance Bank Savings Accounts

There are varied kinds of savings accounts offered by the bank to cater to the needs of different clients, and they are-

1) Wing Savings Account

This is a savings account that offers the client a moderate interest rate and ideal security terms. It has a nomination facility, and individuals who are above the age of 18 can apply for this savings program.

2) Elite Savings Account

This is a savings program for high-net-worth individuals in the country. There are certain terms of criteria that have to be met in order to be part of this scheme, and it provides a set of moderate interest rates; it is ideal for security, greater banking experiences, along with higher cash deposit limits.

3) The Regular Saving Account

The Equitas Small Finance Bank regular savings account would typically pay a modest rate of interest, reliability, and safety, which makes it a good choice to park money for any kind of short-term needs. The average monthly balance that needs to be maintained with this type of account is Rs. 10,000.

4) Self Savings Account

This account is an instant account for Equitas Small Finance Bank individuals. It can be started by utilizing the web-based video through registration with the PAN, Aadhaar, and other primary details. 

5) The Edge Savings Account

This is a kind of account that is aimed at financial inclusion and also simplifies banking for the people who are looking into the basic facility. The individual who seeks to start this account does not need to maintain a minimum balance.

6) My Savings Account

This is an account that provides a moderate rate of interest, ideal security systems, and greater cash deposit limits. It does not require an average minimum balance, and any Indian resident who is more than the age of 18 can opt for it. 

Equitas Small Finance Bank also provides its customers with a welcome kit that has a personalized cheque book and ATM card. This is mailed to the individual's registered address and is delivered within 7 to 8 working days after the account has been opened.

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