Equitas Small Finance Bank has given great news to its savings account customers. The bank has announced an increase in interest rates for savings account customers. The bank said that these new interest rates will be applicable from January 10, 2025. Let us know about the new interest rate of the bank
Bank Interest Rates: We often keep our deposits in the bank’s savings account, on which the bank also gives us interest. In this way our savings are also safe and at the same time we keep getting profit on it. The bank provides simple interest on the savings account. The interest rate of every bank is different, it also depends on the money deposited. Equitas Small Finance Bank has given great news to the customers with savings account.
The bank has announced an increase in its interest rates for savings account customers. Along with this, it also said that this increase will be implemented from January 10, 2025.
What did Equitas Small Finance Bank say
Equitas Small Finance Bank informed NSE, “Equitas Small Finance Bank Limited, one of India’s leading small finance banks, has revised the interest rates for its savings account customers. These new interest rates will be applicable from January 10, 2025.”
How much has the bank increased the interest rates
The bank said that the interest rate of 3.00% on balance up to Rs 1 lakh will remain the same as before. At the same time, customers with balance between Rs 1 lakh to Rs 10 lakh will get an interest rate of 5.00% in the extended slab. Apart from this, 7% interest rate will be applicable under the new slab on balance from Rs 10 lakh to Rs 25 lakh. A new slab on balance from Rs 25 lakh to Rs 1 crore will provide an interest rate of 7.25%, while the remaining balance from Rs 1 crore to Rs 25 crore will get 7.50% interest.
Along with this, the bank also said that there will be no change in the current interest rate of 7.80% on balances above Rs 25 crore. Talking about the shares of Equitas Small Finance Bank on Thursday, the bank’s shares closed at Rs 69.08 with a rise of 2.16 percent.
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