Equitas Small Finance Bank RD Interest Rates

As of today, November 29, 2024, the current Equitas Small Finance Bank RD rates range from 7.25% to 8.20% for general citizens and from 8.25% to 8.70% for senior citizens.

Equitas Small Finance Bank RD account can be opened with a minimum deposit of Rs. 1000 with tenure ranging 12 Months to 10 Years. Equitas Small Finance Bank recurring deposit account can be opened online or by visiting Equitas Small Finance Bank branches with any ID proof like PAN card, Aadhar card, voter ID, or driving licence etc.

You can close your RD a/c online through "Close A/c" tab or by visiting the branch, this may cost you a penalty. The current premature closer penalty in Equitas Small Finance Bank RD is 1% of deposit.

The maturity amount in Equitas Small Finance Bank recurring deposit account can be calculated by using A = P x(1 + R / N) ^ (NT) formula.
Where:
A: Maturity Amount
P: Recurring Deposit Amount
N: Number of times the interest is compounded
R: annual interest rate
T: Tenure
Example:
If you open recurring deposit account at the Equitas Small Finance Bank for 5 years and planed to invest INR 50,000.The current Equitas Small Finance Bank RD interest rate for 5 year is 7.25%.So using the above formula the maturity amount will be - Rs. 36,20,469.

The Equitas Small Finance Bank recurring deposit for 12 months or 1 year is 8.70% for senior citizen and 8.20% for others.

The Equitas Small Finance Bank RD account can be opened with as low as INR Rs. 1000 per month. Also, there is no limit on the maximum amount for investment in a Equitas Small Finance Bank RD.

The current highest Equitas Small Finance Bank rd rate is 8.20% p.a. for normal citizen and 8.70% p.a. for senior citizens in India.