Latest News on Equitas Bank
Senior Citizens Can Earn 9.1% Interest on Fixed Deposits: Check the Latest FD Rates from These Banks
For senior citizens seeking safe investment options, bank fixed deposits (FDs) can be an attractive choice, with some small finance banks offering interest rates up to 9.1% for a three-year tenure. These rates are applicable for FDs below Rs 3 crore and are particularly notable given that many banks are currently reducing their FD interest rates. The banks offering the highest interest rates for senior citizens include:
– Utkarsh Small Finance Bank at 9.1%
– Northeast Small Finance Bank at 9%
– Jana Small Finance Bank and Suryaodaya Small Finance Bank at 8.75%
– Unity Small Finance Bank at 8.65%
– Equitas Small Finance Bank at 8.25%
This presents a good opportunity for investment, especially considering the Reserve Bank of India’s (RBI) decision to cut the repo rate and the subsequent reduction in FD interest rates by major banks. However, it’s essential to exercise caution when investing in small finance banks. While deposits up to Rs 5 lakh are insured under the Deposit Insurance Credit Guarantee Corporation (DICGC), keeping investments within this limit ensures that your money can be returned in case of unforeseen events.
Moreover, senior citizens can avoid Tax Deducted at Source (TDS) on their FDs by submitting Form 15H if their total tax liability is zero. This form is valid as long as the taxpayer’s liability remains zero after all deductions, regardless of the total income exceeding Rs 3 lakh. As of the latest update on April 23, 2025, these rates and conditions offer senior citizens a chance to secure good returns safely for the next three years. It’s advisable to review the terms and conditions and consider financial advisors’ inputs before making any investment decisions.
Boost your savings! Certain banks are now offering higher FD interest rates of up to 9.10% – find out which banks are leading the pack!
The recent repo rate cut by the Reserve Bank of India (RBI) has led to a reduction in fixed deposit (FD) interest rates by big banks such as SBI, HDFC, ICICI, and Yes Bank. However, some small finance banks are still offering attractive interest rates of up to 9.10% to senior citizens. This presents a good opportunity for senior citizens to invest in fixed deposits and earn risk-free returns.
Small finance banks such as Unity Small Finance Bank, Suryoday Small Finance Bank, Jana Small Finance Bank, Equitas Small Finance Bank, and AU Small Finance Bank are offering high interest rates on FDs. For instance, Unity Small Finance Bank is offering 9.10% interest on a 1001-day deposit, while Suryoday Small Finance Bank is offering 9.10% interest on a 5-year deposit. Similarly, Jana Small Finance Bank is offering 8.75% interest on a 2-3 year deposit, and Equitas Small Finance Bank is offering 8.55% interest on an 888-day deposit.
Senior citizens can benefit from these schemes as they offer special interest rates that are higher than what is being offered by big banks. However, before investing, it is essential to ensure that the bank is authorized by the RBI and has a Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance cover of up to Rs 5 lakh. Additionally, it is crucial to understand that these special interest rates may be for a limited period, and it is necessary to thoroughly understand all the rules and regulations before investing.
In conclusion, small finance banks are offering attractive interest rates on fixed deposits, providing senior citizens with an opportunity to earn high returns on their investments. With interest rates ranging from 8% to 9.10%, these schemes are an excellent option for those looking for risk-free returns. By doing their research and ensuring that the bank is reputable and offers the necessary insurance cover, senior citizens can take advantage of these high-interest FD schemes and secure their financial future.
Equitas SFB slashes rates, Bank of Baroda tees off with new scheme as RBI’s MPC meet approaches – MSN
Equitas Small Finance Bank (Equitas SFB) has reduced its lending rates for personal and business loans, in line with the several other banks that have cut their rates recently. In recent days, several banks including top 5 lenders, banks, have slashed interest rates on various loan products.
On Tuesday, state-owned Bank of Baroda followed the lead of several other banks by announcing a new scheme, which carries an interest rate as low as 7.45%. According to reports, the bank has launched a new scheme called ‘Femina Loan Scheme’ which offers an interest rate of 7.45% for women loan borrowers. Analysts consider this to be the lowest ever rate by the bank to date. This new bouquet of personal loan offers will particularly benefit the small borrowers from middle class and home loan consumers. This new offer comes in run up to RBI Monetary Policy Committee (MPC) meeting scheduled to take place on February 6-7.
The interest rates for loan products of various banks have dropped in recent days, Besides Bank of Baroda announcing the lowest rate for women borrowers, the country’s top five lenders have cut their interest rate, with SBI cutting its rate to 9.15% from 9.60% to 9.55%, after an RBI move to cut its repo rates in February.
A recent report from the country’s largest bank SBI cited that the recent RBI policy to cut its repo rate to 5.40% will improve liquidity in the economy. Buyers may see more savings in loan rates. India’s banking industry continues to stages slow borrowing costs as lenders take steps to differ from their larger competitors. Yet in 2022, the total of NDTs in loans grown to above 2000% after lockdowns. Equity mergers and weddings to see rising asset demand. Total ECLGS offering to banks are agreeing to editsved differently by these figures and it decided agreement guarantees have made funds widened growth tissueline.
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Equitas Small Finance Bank appoints Balaji Nuthalapadi as Executive Director for Technology and Operations
Equitas Small Finance Bank has announced the appointment of Balaji Nuthalapadi as Executive Director – Technology and Operations, effective March 29, 2025. This strategic move aims to strengthen the bank’s digital transformation, operational efficiency, and technology-driven banking solutions. Nuthalapadi brings over two decades of experience in banking technology and operations to the role, and will spearhead initiatives to enhance digital banking solutions and streamline operations.
Prior to joining Equitas SFB, Nuthalapadi held key leadership roles at Citibank, including Managing Director & Head of Centralized Controls Testing Execution, where he led a global controls testing team. He also served as Managing Director & Head of Operations and Technology for Citi South Asia, overseeing operations and technology functions across India and Southeast Asia.
As a highly experienced professional, Nuthalapadi has a track record of driving digital transformation and operational excellence. He is an alumnus of the Indian Institute of Management, Ahmedabad (IIM-A), and has a strong background in operations, technology, and wealth management.
Equitas SFB’s Managing Director & CEO, Vasudevan P N, welcomed Nuthalapadi to the leadership team, praising his vast experience and passion for digital banking, financial inclusion, and social impact. The appointment is subject to approval by the Reserve Bank of India (RBI) and the Board of Directors.
Senior citizens can earn attractive returns on their savings with small finance banks Suryoday, Unity, and North East, offering a competitive rate of 9.1% per annum on 5-year fixed deposits
Retirees often rely on passive income to maintain their lifestyle after retirement, and they typically seek investment options that balance return potential with minimal risk. One popular choice is bank fixed deposits (FDs), which are perceived as stable and offer consistent interest income. For senior citizens, the tax implications of FDs are often favorable, with many falling into lower tax brackets and incurring minimal or no tax liability. Small finance banks have emerged as attractive alternatives to traditional banks, offering higher interest rates on FDs to attract deposits and expand their customer base. Since small finance banks have a greater need for funds to support their growth and lending strategies, they can offer more competitive interest rates due to their lower operational costs and commitment to financial inclusion.
The Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India, guarantees fixed deposit investments up to ₹5 lakh, providing an additional layer of security. For resident Indians over 60 years of age looking to invest up to ₹1 crore in five-year fixed deposits, here are the top small finance banks that offer better interest rate options, as of March 26, 2025. Some of the best FD rates for senior citizens can be found at small finance banks such as Suryoday Small Finance Bank (6.5% to 6.75% annual interest rate), Ujjivan Small Finance Bank (6.4% to 6.7% annual interest rate), and Equitas Small Finance Bank (6.4% to 6.7% annual interest rate).
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Equitas Small Finance Bank strengthens its association with Chennai Super Kings and Gujarat Titans as official partners for the T20 League 2025
Equitas Small Finance Bank has renewed its partnership with Chennai Super Kings (CSK) and Gujarat Titans (GT) as its official banking partner for the 2025 T20 League. This extension marks a six-year partnership with CSK and a three-year association with GT, solidifying the bank’s commitment to excellence, resilience, and community empowerment through its “Bank Behind Champions” campaign.
As part of the partnership, Equitas will feature prominently on the lead helmet of CSK and the back of the helmet of GT, highlighting its association with two of the league’s most successful teams. The partnership aims to integrate innovative banking services with the excitement of cricket, connecting customers with financial solutions that drive success.
The “Bank Behind Champions” campaign aims to empower customers with innovative financial solutions, seamless digital banking experiences, and unwavering support. The campaign will include outdoor advertising and localized activations in Chennai and Gujarat, awareness programs focused on CASA and loan products, and seamless access to digital banking solutions through DIY banking experiences.
Equitas Small Finance Bank’s partnership with CSK and GT is a strategic move to strengthen its presence in the digital banking space and position itself as a trusted financial partner for millions of Indians. The campaign seeks to connect with audiences through cricket, a sport that embodies the values of dedication, resilience, and excellence, which align with the bank’s brand ethos. With this partnership, Equitas is poised to reach a wider audience and promote its range of financial services, digital banking solutions, and CSR initiatives.
Experience high-yield savings: Earn up to 9% interest on your fixed deposits with top small finance banks!
Fixed deposits (FDs) are a popular investment option for those seeking reliable, long-term returns. Small finance banks in India are offering interest rates as high as 9% for certain tenures, making them an attractive option for conservative investors who prefer to minimize risk. Here are the latest FD rates offered by small finance banks:
Some banks, such as Unity Small Finance Bank, are offering FD rates above 9% for senior citizens, with a term of 1001 days and above. For general citizens, the highest rate is 8.6%. North East Small Finance Bank is offering 9% interest on FDs for 18 months to 36 months for both general and senior citizens. Utkarsh Small Finance Bank is offering 8.5% interest on FDs for 1,500 days or two to three years, while Suryoday Small Finance Bank is offering 8.6% interest for 5-year fixed deposits.
Other small finance banks, such as ESAF, Jana, Equitas, AU, and Ujjivan, are offering FD rates above 8%. These rates are applicable for various tenures, including 1 year, 1.5 years, 2 years, and 3 years. For example, Jana Small Finance Bank is offering 8.25% interest for 1-3 year fixed deposits, while Equitas Small Finance Bank is offering 8.25% interest for 888-day fixed deposits.
These rates are subject to change, so it’s essential for investors to check the current rates before investing. Fixed deposits are a great option for those who prefer a low-risk investment with predictable returns. With rates above 9% from some small finance banks, investors have a range of options to choose from, making it an attractive time to consider investing in fixed deposits.
7 Top-Notch Small Finance Banks Offering Attractive Fixed Deposit Interest Rates
The Reserve Bank of India (RBI) has established a special sector of the banking industry, known as small finance banks, which aims to promote financial inclusion for underserved segments of the economy. These banks are designed to provide access to banking services for micro and small businesses, small and marginal farmers, unorganized sector entities, and small business units that are not currently served by mainstream banks.
The RBI has licensed several small finance banks in India, which operate under the regulatory framework of the RBI. These banks offer a range of services, including deposit accounts, credit, and other financial products. One of the key features of small finance banks is their ability to offer fixed deposit (FD) accounts, which can help individuals and businesses earn interest on their deposits.
Here is a list of some of the small finance banks in India, along with their fixed deposit (FD) interest rates:
* Airtel Bank: 6.15% to 7.10% for 1-year FDs
* Au Small Finance Bank: 6.00% to 7.00% for 1-year FDs
* Equitas Small Finance Bank: 6.00% to 7.50% for 1-year FDs
* ESAF Small Finance Bank: 6.00% to 7.50% for 1-year FDs
* Janalakshmi Financial Services: 6.00% to 7.50% for 1-year FDs
* Suryoday Small Finance Bank: 6.00% to 7.50% for 1-year FDs
Please note that the interest rates may vary depending on the bank, deposit tenure, and other factors. It is always a good idea to check with the bank or their website for the most up-to-date information on their fixed deposit rates.
Overall, small finance banks have made significant progress in extending financial inclusion to underserved segments of the Indian economy. By providing access to banking services, such as fixed deposit accounts, these banks are helping to empower individuals and businesses to achieve their financial goals and improve their standard of living.
Four banks offer interest rates of 9% or higher for their fixed deposit accounts.
Small Finance Banks (SFBs) were introduced in India to promote financial inclusion and offer competitive interest rates to customers. These banks offer fixed deposits (FDs) with attractive interest rates, including those with a rate of 9% or higher. Here are some of the top SFBs offering high-interest FDs:
1. North East Small Finance Bank: Offers 9.25% interest rate on non-callable FDs for amounts between Rs 1 to Rs 3 crore, with tenures ranging from 18 months to 36 months.
2. Unity Small Finance Bank: Offers 9.10% interest rate to senior citizens on investments of less than Rs 3 crore for a tenure of 1001 days.
3. Utkarsh Small Finance Bank: Offers 9.10% interest rate to senior citizens on investments of less than Rs 3 crore for deposits between 730 days to 1095 days.
4. Equitas Small Finance Bank: Offers 9% interest rate for senior citizens on a tenure of 888 days.
In general, most SFBs offer higher interest rates to senior citizens, making them an attractive option for those looking to earn higher returns on their fixed deposits. With interest rates ranging from 8.5% to 9.25%, these banks are providing a competitive alternative to traditional banking and post offices. With the introduction of SFBs, customers have more options for fixed deposits, and it’s worth considering these financial institutions when looking to earn higher interest rates on their investments.
Unlock Higher Interest: Top Small Finance Banks Offering Fixed Deposit Rates of Up to 9%! Find the Best Options Here – MSN
The article discusses the highest fixed deposit (FD) rates offered by small finance banks in India, which are often referred to as “small finance banks” or “NBFCs” (non-banking financial companies). These banks are allowed to operate as banks but are subject to fewer regulations than traditional commercial banks.
The article provides a list of small finance banks that are offering attractive FD rates, with some offering as high as 9% per annum. Here are some of the top players:
1. Jana Small Finance Bank: Offers 8.50% for deposits up to ₹1 lac and 9.00% for deposits above ₹1 lac.
2. Ujjivan Small Finance Bank: Offers 8.25% for deposits up to ₹1 lac and 8.75% for deposits above ₹1 lac.
3. Equitas Small Finance Bank: Offers 8.25% for deposits up to ₹1 lac and 8.75% for deposits above ₹1 lac.
4. Muthoot Homefin: Offers 8.20% for deposits up to ₹1 lac and 8.80% for deposits above ₹1 lac.
5. Bajaj Finance FD: Offers 8.15% for deposits up to ₹1 lac and 8.75% for deposits above ₹1 lac.
6. Fullerton India: Offers 8.10% for deposits up to ₹1 lac and 8.70% for deposits above ₹1 lac.
7. Arohan Finance: Offers 8.00% for deposits up to ₹1 lac and 8.60% for deposits above ₹1 lac.
8. Suryoday Small Finance Bank: Offers 7.95% for deposits up to ₹1 lac and 8.55% for deposits above ₹1 lac.
9. Aditya Birla Sun Life Savings Fund: Offers 7.90% for deposits up to ₹1 lac and 8.50% for deposits above ₹1 lac.
These rates are subject to change, and individuals are advised to check the banks’ websites or visit their branches for the latest rates and terms and conditions. The article concludes by emphasizing the importance of reviewing and comparing the interest rates offered by different banks before making a decision on which one to choose.
Overall, the article provides a comprehensive list of small finance banks offering attractive FD rates, which can help individuals make an informed decision about their savings and investment options.