Migrate savings to smaller banks?

Caveat: I am a shareholder of Equitas, do not have a savings account, I took the details from their website. I may or may not shift my money to Equitas

Equitas is a new-age Small ­Finance bank catering to India’s unbanked masses and SMEs. Now, they’ve expanded their horizons and are bringing a range of products and digital solutions. They currently serve about 1% of Indian Households. As a Banking entity with 350+ branches spread across 13 states and products include Savings, Deposits, Remittances, Debit Card Variants, UPI etc.

Equitas Small Finance bank is offering 6.5 per cent interest on SB deposits highest in the market on savings accounts. Despite the RBI paring the repo rate from 6.25 per cent to 6 per cent more than 10 banks have reduced its savings bank rate to 3.50 per cent from 4 per cent on deposits.

Equitas Small Finance Bank offers 6.5% interest on Savings

Equitas Small Finance Bank offers 6.5% interest on SB deposits highest in the market above 10lakhs; 6% on deposits below 10 lakhs. With highest FD rates of 7.25%, Equitas Bank also cuts ice with pensioners with deposit rates upwards of 7.75% for senior citizens.

 

Related Articles:

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

Leave a Reply

This blog is kept spam free by WP-SpamFree.