Product Details
Bank Name
Equitas Small Finance Bank
Account Name
Elite Saving Account
Account Type
Saving
Interest Rate
Upto 1 Lakh - 3.5% Above 1 Lakh And Upto 5 Lakh 5.5% Above 5 Lakh And Upto 5 Crore 7%
Free Debit Card
Yes
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
INR 5 Lakh
Debit Card Charges
0
NEFT Charges
Free
IMPS Charges
Free
Fees and Charges
Elite Saving Account
Special Features
Feature rich debit card offers such as best-In-Class Offer with 1.5% Foreign Exchange Mark up on all International Spends, free domestic lounge visits 3 per quarter, etc. No Surcharge on fuel.
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Feature rich debit card issued free of charge.
Waiver of fees on multiple facilities such as unlimited ATM withdrawal, free cheque pick-up.
Free personal accident cover of INR 20 Lakh.
Waiver on locker fee. Free IMPS and NEFT transfer.
Multiple facilities are offered free of cost such as home pick-up of cheque, free use of other bank's ATM, etc.
High interest rate.
Cons
Minimum Account Balance of INR 5 Lakh.
Equitas has limited branch and ATM network.
Equitas Elite Saving Account Review
The account comes with a number of value add features. The account offers a high interest rate.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Account Opening and Procedure
How to open an Account?
Check Eligibility:Financial Criteria: Ensure you meet the bank's requirements for AQB or TRV.
Contact Equitas Bank: Reach out to Equitas Bank directly (via their website, app, or customer service) to inquire about the specific eligibility criteria for the Elite Savings Account.Gather Documents:
Identity Proof: Aadhaar card, PAN card, passport, driver's license, or voter ID.Address Proof: Passport, driver's license, voter ID, utility bills, or bank statements.
Photographs: Two recent passport-sized photographs.
Visit an Equitas Bank Branch:Schedule an Appointment: It's advisable to schedule an appointment with a Relationship Manager at the bank branch.
Complete the Application:Provide Information: Fill out the application form with your personal and financial details.
KYC Verification: Undergo Know Your Customer (KYC) verification by providing necessary documents.Account Opening:Approval: Once your application is approved, your Equitas Elite Savings Account will be opened.
Welcome Kit: You may receive a welcome kit with details about your account and its benefits.