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
We often keep our savings in a bank’s savings account, on which the bank also gives us interest. In this way our savings are safe and we also keep getting 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 deposited. Equitas Small Finance Bank has given great news to customers with savings accounts.
The bank has announced an increase in its interest rates for savings account customers. It 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 applicable from January 10, 2025.”
How much has the bank increased interest rates
The bank said that the interest rate of 3.00% on balances up to Rs 1 lakh will remain the same as before. At the same time, customers with balances between Rs 1 lakh and Rs 10 lakh will get an interest rate of 5.00% in the extended slab. Apart from this, a 7% interest rate will be applicable under the new slab on balances ranging from Rs 10 lakh to Rs 25 lakh. A new slab on balances from Rs 25 lakh to Rs 1 crore will offer 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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