Equitas Small Finance Bank is a Modern Age Bank that offers a new banking experience to children, young adults, families, and business owners throughout India. As a microfinance organization, we went about improving livelihoods and enhancing lives invisibly. As a small financing bank, we are working to transform how banking is thought about, provided, and experienced today, with TRUST serving as the primary motivator. Join us on this enjoyable journey.
Formerly known as Singhvi Investment and Finance Pvt. Ltd., Equitas Micro Finance Pvt. They are a microfinance organization that provides loans for small businesses, loans against real estate, and loans for commercial vehicles. The business, which has its headquarters in Chennai, Tamil Nadu, was founded in 1994 and is a fully-owned subsidiary of Equitas Holdings Pvt. Ltd.
Basic and Small Savings Accounts
Equitas Small finance offers Zero balance savings account. Moreover, it offers a free RuPay debit card. Features of Basic and small savings accounts:
- An average monthly balance is not required.
- The bank takes no maintenance charges.
- It offers a free RuPay debit card
- It gives a withdrawal facility with access to ATMs / branches.
- It offers Cheque Clearing / NEFT / Net Banking / Mobile Banking.
- The facilit3.y of nomination is available.
- You can choose the bank account number of your choice.
Savings account interest rate
- Interest for up to Rs. 1 lakh - 3.50
- Interest for above Rs. 1 lakh and up to Rs. 5 lakhs - 6.00
- Interest for above Rs. 5 lakhs and up to Rs. 2 crores -7.00
- Interest for above Rs. 2 crores - 5.50
My Savings Account
Features of My savings accounts
- An average monthly balance is not required.
- The bank takes no maintenance charges.
- Free passbook and easy reconciliation
- It gives a withdrawal facility with access to ATMs / branches.
- Multiple touch points like Branches/ATMs available for quick transactions
- The facility of nomination is available.
- You can choose the bank account number of your choice.
Savings account interest rate
- Interest for up to Rs. 1 lakh - 3.50
- Interest for above Rs. 1 lakh and up to Rs. 5 lakhs - 6.00
- Interest for above Rs. 5 lakhs and up to Rs. 2 crores -7.00
- Interest for above Rs. 2 crores - 5.50
Eva (Savings Account)
The EVA Savings Account is designed for the independent, aspiring woman of today. You may now manage your money with EVA, including investments, goal-based savings, entertainment, health, and wellbeing, among other things. A distinctive feature of the account is that you get preferential rates on gold loans, special discounts on debit cards, and limitless free health consultations.
Features of Eva Savings Account
- Unlimited telehealth consultation available
- Exclusive offers on debit card
- 25 percent discount on locker rent
- Bank offers reward points on each spend
- Complete goal based savings and earn rewards
- Preferential rates on gold loan
Savings account interest rate
- Interest for up to Rs. 1 lakh - 3.50 percent
- Interest for above Rs. 1 lakh and up to Rs. 5 lakhs - 6.00 percent
- Interest for above Rs. 5 lakhs and up to Rs. 2 crores -7.00 percent
- Interest for above Rs. 2 crores - 5.50 percent
Eva Elite (Savings Account)
Eva Elite is designed for the woman who deserves the finest in every area, including luxury, wellness, and money. Eva Elite provides a variety of advantages on your investments, lifestyle, and health, along with special rights to help you manage your money elegantly.
Features Of Eva Elite Savings Account
- Complimentary Health Check-ups.
- Save more together with Family Banking.
- Get exciting offers / discounts on Master Card.
- Offers 50 percent discount on locker rent.
- Reward Points are offered on every Debit Card spent and fixed goal-based savings.
- A dedicated relationship manager facility is available.
- The gold loan is provided preferential rates.
Savings account interest rate
- Interest for up to Rs. 1 lakh - 3.50 percent
- Interest for above Rs. 1 lakh and up to Rs. 5 lakhs - 6.00 percent
- Interest for above Rs. 5 lakhs and up to Rs. 2 crores -7.00 percent
- Interest for above Rs. 2 crores - 5.50 percent
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Wings Savings account
With an Equitas Wings Savings Account, explore the world of privileges. You stand to earn if you save money or spend it: interest on your balance, reward points for your purchases. With the special advantages of a Wings Savings Account, it offers a luxurious experience at its finest.
Features of Wings Savings Account
- Interest rate on your savings that is favorable.
- Checks, cash, and money transfers from any of your other bank accounts can all be sent to your Equitas WINGS account.
- You may create or modify your Net Banking password and PIN online.
- Make monthly or one-time investments using our online investing mode.
Regular Savings Account
- An average monthly balance is 10000.
- The bank takes no maintenance charges.
- One multicity cheque of 25 leaves available free/ quarter
- Facility of saving is available with spend more, save on Debit Card
- It gives a withdrawal facility with access to ATMs / branches.
- Multiple touch points like Branches/ATMs available for quick transactions
- The facility of nomination is available.
- You can choose the bank account number of your choice.
Selfae Savings Account
A digital bank account called Selfe Savings may be started using an Aadhaar number, a PAN, and other simple information. You receive the full benefits of Selfe when you create an Equitas Selfe Savings Account, a zero balance savings account through video KYC, as opposed to a 50 percent KYC account. You may instantly use your account after creating a mobile banking PIN.
The following characteristics and advantages are included in Equitas Micro Finance Pvt Ltd's Income Generating Loans:
For cash payments made on loans:
- The loan amount disbursed during cycle 1 of the borrower's life cycle may reach Rs. 30,000.
- The loan amount awarded for extra income-generating loans may vary from Rs. 5,000 to Rs. 10,000.
- The loan amount disbursed during cycle 2 may reach Rs. 35,000.
- The loan amount disbursed during cycle 3 may reach Rs. 40,000.
- The loan amount disbursed during cycle 4 may reach Rs. 50,000.
- The interest rate might vary between 24 percent / 25 percent each year.
- At the moment the loan is sanctioned, a processing fee of up to 1 percent of the loan amount will be charged.
