Equitas Bank waives non-maintenance charges on savings accounts


As a new year gesture to its customers, Equitas Small Finance Bank Limited, has waived off non-maintenance charges on all savings accounts. The Bank also announced lower transaction charges to customers. This is expected to benefit certain of its customers.

The Bank offers up to 7.5% p.a. on Savings and up to 8.25% p.a. on FD + 0.60% extra for Senior Citizens. Further, premature closure and partial withdrawal is permitted for Senior Citizens. The Bank also offers discounts and other privileges with Equitas Small Finance Bank debit cards.

The interest rates offered in the savings and FDs is aimed at customers who want to earn more on their savings. The nature of the products will enable them to save and earn through interest rates & NMC.

Mr. Murali V, President & Country Head – Branch Banking, Liabilities, Product & Wealth, Equitas Small Finance Bank Ltd., said,” . We offer services that cater to banking needs. We also distribute products through digital channels, and leverage technology to identify opportunities to better serve our target customer segment.

To this end, we have introduced facial recognition features for transaction authentication in our mobile banking application.” Mr. Murali V added, that it the bank wants to attract greater retail deposits from our customer segments, and particularly the mass and mass-affluent customer segments.

For instance, we have recently launched differentiated CASA products for various types of customers, such as the ‘Wings Account’ for mass-affluent depositors and ‘Elite Programme’ for higher income households. We introduced an online account called ‘Selfie Digital Savings Account’, which enables potential customers to open a bank account online.”

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