BAJAJ BROKING
Equitas Small Finance Bank revised its savings account interest rates, effective January 10, 2025. Customers can now earn up to 7.50% interest for balances between ₹1 crore and ₹25 crores. Equitas Small Finance Bank share price remains stable.
Equitas Small Finance Bank, a prominent player in India's small finance banking sector, has revised its savings account interest rates, effective January 10, 2025. The new rates include higher returns for customers with substantial account balances, ensuring competitive offerings across various slabs.
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Effective Date: January 10, 2025.
Minimum Interest Rate: 3.00% for balances up to ₹1 lakh.
Maximum Interest Rate: 7.80% for balances above ₹25 crores.
Interest Credit Frequency: Quarterly, calculated daily.
Equitas Small Finance Bank share price: Stable, reflecting positive investor sentiment.
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Balance Range (₹) | Revised Interest Rate |
Up to 1 lakh | 3.00% |
1 lakh to 10 lakhs | 5.00% |
10 lakhs to 25 lakhs | 7.00% |
25 lakhs to 1 crore | 7.25% |
1 crore to 25 crores | 7.50% |
Above 25 crores | 7.80% |
The revised structure introduces two new slabs, offering 7.00% interest for balances between ₹10 lakhs and ₹25 lakhs and 7.25% for ₹25 lakhs to ₹1 crore. Customers maintaining balances between ₹1 crore and ₹25 crores will now earn 7.50%. The existing top rate of 7.80% remains applicable for balances exceeding ₹25 crores.
The revision aligns with Equitas Small Finance Bank’s strategy to attract more high-value customers while offering competitive rates across all tiers. The move is expected to enhance the bank’s deposit base, positively impacting its overall performance. Despite the revision, Equitas Small Finance Bank share price remained stable, reflecting steady investor confidence.
The revised rates reaffirm Equitas Small Finance Bank's commitment to delivering value to its customers while maintaining its position as a leading small finance bank in India.
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