When the stock market fell, this small finance bank brought FD Rates with fixed interest rate. Money will increase with the protection of RBI.

If you want to keep your hard-earned money safe and earn good profits on it, then there is good news for you. Equitas Small Finance Bank has announced an increase in interest rates on its savings accounts. These new rates will be applicable from January 10, 2025.

How much has the interest rates changed?

Equitas Small Finance Bank has changed the interest rates according to different balance slabs. Let us understand what interest rate will be available on which balance:

• Up to Rs 1 lakh: 3.00% (no change)
• Rs 1 Lakh to Rs 10 Lakh: 5.00%
• Rs 10 lakh to Rs 25 lakh: 7.00%
• Rs 25 lakh to Rs 1 crore: 7.25%
• Rs 1 Crore to Rs 25 Crore: 7.50%
• More than Rs 25 crore: 7.80% (no change)

Everyone benefits from small investors to big investors

This initiative of Equitas Small Finance Bank will prove beneficial especially for those people who want to earn good interest while keeping their savings safe. From small investors to big investors, everyone will get better returns as per their deposits.

Bank shares rise

After the announcement of increase in interest rates, bank shares also saw a rise. On Thursday, shares of Equitas Small Finance Bank closed at Rs 69.08 with a gain of 2.16%.

What should investors do?

If you also want to earn good interest on your savings, then the savings account of Equitas Small Finance Bank can be a great option. Especially for those people who want more interest on their deposits without risk, this scheme is very beneficial for them.