Product Details
Bank Name
Equitas Small Finance Bank
Account Name
Wings 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 50,000
Debit Card Charges
0
NEFT Charges
Free
IMPS Charges
Free
Fees and Charges
Wings Saving Account
Special Features
You can open account for your whole family, debit card fee for family will be waived. You will be required to upkeep balance of INR 1 Lakh mnthly at family level.
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Feature rich debit card offers such as, free domestic lounge visits 2 per quarter, etc.
No Surcharge on fuel.
Free personal accident cover of INR 10 Lakh.
Free home burglary and fire insurance.
You can open account for your whole family, debit card fee for family will be waived.
High interest rate.
Cons
Minimum Account Balance of INR 50,000.
Account can not be opened digitally through video calling
Equitas has limited branch and ATM network.
Equitas Wings Saving Account Review
The account offers a number of value add features. The account also offers a high interest rate. The only con with the account is that Equitas has limited branch and ATM network.
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?
Visit an Equitas Bank Branch: Go to the nearest Equitas Bank branch.
Obtain an Application Form: Request a Wings Savings Account application form from the bank staff.
Fill Out the Form: Complete the form with your personal and financial details.
Submit Documents: Submit the filled-out form along with the required documents (see below).
Initial Deposit: Make the required initial deposit (if any).