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Equitas Small Finance Bank Hikes Savings Account Interest Rates

Synopsis:

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 news today

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.

Also read: Swiggy Instamart Expands to 75+ Cities, Launching Standalone App

EQUITAS SMALL FIN BNK LTD

Trade

69.98-1.32 (-1.85 %)

Updated - 25 April 2025
71.30day high
DAY HIGH
68.78day low
DAY LOW
6922260
VOLUME (BSE)

Key takeaways

  • 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.

Also read: Polyplex Corporation to Invest ₹558 Crore in New BOPET Film Plant

New interest rate structure for savings accounts

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%

Enhanced rates for higher balances

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.

Market impact of revised rates

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.

Also read: Surya Roshni Secures ₹81.47 Crore Order from BPCL for CGD Project

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Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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