Product Details
Bank Name
Equitas Small Finance Bank
Eligibility
Should be an Indian resident - 18+ years of age
Should have a valid PAN and Aadhar
Mobile number should be linked to Aadhar
Should not have an account with Equitas Bank
No other account has been opened nor will be opened using OTP based KYC in non face to face mode with any other Bank
Interest Rate
Higher Interest upto 7.50% p.a. for 1 year
Tenure
choose tenure between 7 days to 10 years
Fixed Deposit Type
Regular
ESFB Fixed Deposit
Tax Benefits
No
Credit Ratings
CRISIL A1+
Interest Payment Frequency
Monthly/quarterly interest payout option is available
Cummulative/Non-Cummulative
Cumulative
Features
Higher Interest upto 7.50% p.a. for 1 year 0.50% extra interest for Senior Citizens Invest anytime with selfe FD Open FD without a Savings Account Start as low as Rs.5000 and invest upto Rs. 90,000 Choose to invest from 7 days to 365 days No Premature withdrawal penalty if Selfe FD has completed a tenure of more than 180 days No premature withdrawal penalty for Senior Citizen Selfe FD
Minimum Investment Amount
Rs.5000 and invest upto Rs. 90,000
Fees and Charges
Pros
High Interest Rates
Flexible Tenure Options
Premature Withdrawal Option
Deposit Insurance
Additional Interest for Senior Citizens
Cons
Limited Branch Network
Pros & Cons
Account Opening and Procedure
How to Open?
Visit the Equitas Bank Website: Go to http://www.equitasbank.com/fixed-deposit
Select your preferred Fixed Deposit scheme: Equitas offers different FDs like Selfe FD (instant online opening), Regular FD, Senior Citizen FD, and Recurring Deposit (RD). Choose the one that suits your needs based on tenure, interest rates, and minimum deposit requirements.
Click on "Open Now" or "Apply Online" (depending on the chosen scheme): This will initiate the online application process.
Fill out the application form: Enter your personal details, nominee details (optional), and choose your deposit amount and tenure. You'll likely need to upload scanned copies of your PAN card and Aadhaar card during this step.
Fund your Fixed Deposit: Once you confirm the details, you can choose to fund your FD directly using internet banking from any bank account.
Confirmation: Upon successful application and fund transfer, you'll receive a confirmation message and an FD receipt electronically.
Application Procedure
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