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Product Details
Bank Name

Equitas Small Finance Bank

Eligibility

You must be an Indian resident aged 18 years or above.
You should have a valid PAN card.
Your mobile number must be linked to your Aadhaar card.

Interest Rate

Up to 8.10% per annum.

Tenure

12 months to 120 months.

Fixed Deposit Type

Recurring

Recurring Deposits

Recurring Deposits

Tax Benefits

No 

Credit Ratings

CRISIL A1+

Interest Payment Frequency

At maturity. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.

Cummulative/Non-Cummulative

Not specified by the bank.

Features
  • Minimum duration of 12 months.

  • Minimum deposit requirement of Rs. 1000.

  • 0.50% per annum additional rate for senior citizens.

Minimum Investment Amount

INR 1000

Features & Benefits
Pros
  • Attractive Interest Rates

  • Flexible Tenure

  • Maximum tenure of up to 120 months.

Cons
  • Early Withdrawal Penalty

  • Payment of interest at the time of maturity only.

Pros & Cons
Account Opening  Procedure
How to Open?
  • Visit the Equitas Bank Selfe FD webpage: Access the official webpage directly at http://www.equitasbank.com/fixed-deposit.

  • Review the details:  This webpage provides a clear overview of the Selfe FD scheme, including minimum deposit amount (Rs. 5,000), maximum deposit amount (Rs. 90,000), tenure options (7 days to 365 days), and current interest rates.

  • Click on "Open Selfe FD Account": This button initiates the online application process.

  • Fill out the application form: Enter your personal details like name, date of birth, mobile number, and email address (optional).

  • Aadhaar e-KYC: The bank uses Aadhaar based e-KYC for verification. You'll receive a One Time Password (OTP) on your Aadhaar linked mobile number. Enter the OTP to proceed.

  • Choose your deposit details: Specify your preferred deposit amount (within the minimum and maximum limits) and choose your desired tenure (7 days to 365 days).

  • Fund your FD: You can conveniently fund your Selfe FD directly using the United Payments Interface (UPI) method. This allows you to transfer money from your bank account (any bank) through a UPI app.

  • Confirmation: Upon successful application and fund transfer, you'll receive a confirmation message and an electronic Fixed Deposit Receipt (FDR).

Application Procedure

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