Understanding Equitas Small Finance Bank Fixed Deposits
Equitas Small Finance Bank offers fixed deposit schemes tailored for customers seeking higher returns with the safety of a scheduled commercial bank. Known for its reliable services and customer-centric approach, Equitas provides competitive FD interest rates that attract both senior citizens and regular depositors.
Fixed Deposits (FDs) at Equitas allow you to lock in your money for a specific period at a predetermined interest rate. The returns are guaranteed, and the risk is minimal, making it a preferred investment for conservative investors.
Current Equitas FD Interest Rates Overview
Equitas Small Finance Bank FD rates vary based on the tenure and customer profile. The bank provides higher interest rates for senior citizens as compared to general customers. These rates apply to deposits below ₹2 crore.
Benefits of Choosing Equitas Fixed Deposits
Attractive Interest Rates Across All Tenures
Equitas offers some of the most attractive FD rates in the small finance banking sector. Special tenures like 888 days provide higher yields, encouraging mid-term locking of funds.
Senior Citizen Benefits
Senior citizens enjoy an additional 0.50% over regular FD rates. This feature makes Equitas a top choice among retirees and pensioners seeking stable, monthly income.
Multiple Interest Payout Options
Customers can choose from cumulative and non-cumulative FD options. Monthly, quarterly, and annual payout schemes are available based on your liquidity needs.
Loan Against FD
Equitas allows loans of up to 90% of the FD value. This feature provides liquidity without breaking the deposit. The interest on loans is marginally above the FD rate.
Digital Onboarding Process
FDs can be opened online through net banking or the mobile app. New customers can also use video KYC to start an FD without visiting the branch.
Eligibility and Documentation
Who Can Open an Equitas FD?
- Resident Individuals
- Hindu Undivided Families (HUFs)
- Sole Proprietorship Firms
- Partnership Firms
- Companies and Trusts
- Senior Citizens (60 years and above)
Documents Required
- PAN Card
- Aadhaar Card
- Passport-size Photograph
- Address Proof (Electricity bill, rent agreement, etc.)
- Bank Account Details
How to Open an Equitas Small Finance Bank FD
Online Method
- Visit the official website of Equitas Small Finance Bank.
- Click on “Open Fixed Deposit”.
- Complete KYC using Aadhaar and PAN.
- Enter deposit amount, tenure, and interest payout preference.
- Confirm payment from your linked account.
Offline Method
- Visit the nearest Equitas branch.
- Fill the FD account opening form.
- Submit KYC documents.
- Deposit the amount via cheque or cash.
- Collect the FD receipt after confirmation.
Taxation on Equitas FD Returns
Interest earned on FDs is taxable under the Income Tax Act. TDS is deducted if interest exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year. Investors can submit Form 15G or 15H to avoid TDS if eligible.
Premature Withdrawal and Penalties
Premature withdrawal is allowed but incurs a penalty of 1% on the applicable interest rate. Special tenure FDs like 888 days may have restrictions. It is advised to check the terms before opting for early withdrawal.
How Equitas FD Compares With Other Banks
Equitas FD rates outperform most public sector banks and even some private ones. Especially in tenures between 1–2 years, Equitas offers interest rates ranging from 8.00% to 8.50%, which is significantly higher than the average 6.00% – 7.00% offered by competitors.
| Bank Name | 1-Year FD Rate | Special Rate |
| Equitas SFB | 8.00% | 8.50% (888 days) |
| SBI | 6.80% | 7.10% (400 days) |
| HDFC Bank | 7.00% | 7.75% (35 months) |
| ICICI Bank | 6.90% | 7.10% (15 months) |
Final Thoughts on Equitas FD Investment
Equitas Small Finance Bank FD rates are highly competitive, particularly for mid-range tenures. The bank’s digital-first approach, attractive returns, and additional senior citizen benefits make it a strong choice for fixed-income investors. It offers both safety and growth, ideal for risk-averse individuals seeking higher-than-average interest earnings.
