We often keep our deposits in the savings account of the bank, on which the bank also gives us interest. In this way our savings are also safe and at the same time we also get profit on it. The bank provides simple interest on savings account. The interest rate of every bank is different, it also depends on the amount of money deposited. Equitas Small Finance Bank has given great news to its savings account customers.
The bank has announced an increase in its interest rates for savings account customers. Along with this it was also said that this increase will be implemented from January 10, 2025.
What Equitas Small Finance Bank said
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 effective from January 10, 2025.” Will be implemented.”
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 and Rs 10 lakh will get the extended slab interest rate of 5.00%. Additionally, 7% interest rate will be applicable under the new slab on balances between Rs 10 lakh and Rs 25 lakh. A new slab will offer an interest rate of 7.25% on balances ranging from Rs 25 lakh to Rs 1 crore, while the remaining balances ranging from Rs 1 crore to Rs 25 crore will fetch 7.50% interest.
Along with this, the bank also said that there will be no change in the existing 7.80% interest rate on balance above Rs 25 crore. Talking about the shares of Equitas Small Finance Bank on Thursday, the shares of the bank closed at Rs 69.08 with a rise of 2.16 percent.
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