Equitas Small Finance FD Calculator
Equitas FD Interest Rates on Domestic/NRO deposits of less than Rs 2 crore - General Public
| Tenure | Regular Citizens |
| 7 – 14 days | 3.5 |
| 15 – 29 days | 3.5 |
| 30 – 45 days | 3.5 |
| 46 – 62 days | 4 |
| 63 – 90 days | 4.25 |
| 91 – 120 days | 4.75 |
| 121 – 180 days | 4.75 |
| 181 – 210 days | 5.25 |
| 211 – 270 days | 5.25 |
| 271 – 364 days | 5.25 |
| 1 year to 18 months | 6.75 |
| 18 months 1 day to 2 years | 6.75 |
| 2 years 1 day to 887 days | 7 |
| 888 days | 7.25 |
| 889 days to 3 years | 7 |
| 3 years 1 day to 4 years | 6 |
| 4 years 1 day to 5 years | 6 |
| 5 years 1 day to 10 years | 6 |
Note: The FD interest rates are effective as of 8 September 2022
Equitas FD Interest Rates on Domestic/NRO deposits of less than Rs 2 crore - Senior Citizens
| Tenure | Senior Citizens |
| 7 – 14 days | 4 |
| 15 – 29 days | 4 |
| 30 – 45 days | 4 |
| 46 – 62 days | 4.5 |
| 63 – 90 days | 4.75 |
| 91 – 120 days | 5.25 |
| 121 – 180 days | 5.25 |
| 181 – 210 days | 5.75 |
| 211 – 270 days | 5.75 |
| 271 – 364 days | 5.75 |
| 1 year to 18 months | 7.25 |
| 18 months 1 day to 2 years | 7.25 |
| 2 years 1 day to 887 days | 7.5 |
| 888 days | 7.75 |
| 889 days to 3 years | 7.5 |
| 3 years 1 day to 4 years | 6.5 |
| 4 years 1 day to 5 years | 6.5 |
| 5 years 1 day to 10 years | 6.5 |
Note: The FD interest rates are effective as of 8 September 2022
NRE FD Interest Rates for deposits less than Rs. 2 crores
| Tenure | Interest Rates (% p.a.) |
| 1 year to 18 months | 6.9 |
| 18 months 1 day to 2 years | 6.85 |
| 2 years 1 day to 887 days | 7.3 |
| 888 days | 7.4 |
| 889 days to 3 years | 7.3 |
| 3 years 1 day to 4 years | 6 |
| 4 years 1 day to 5 years | 6 |
| 5 years 1 day to 10 years | 6 |
Note: The FD interest rates are effective as of 8 September 2022
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Equitas Small Finance Bank FD Calculator
Fixed deposits are an ideal investment avenue for investors who wants greater return with minimal risks. Fixed deposits offer a higher return than a regular savings account and have lower risk than the stock market. These features make it popular among Indian investors.
Equitas Small Finance Bank fixed deposit comes at attractive interest rates. You may find it helpful to estimate the maturity amount and the interest accrued before investing in an FD. You can conveniently calculate this amount by using an online Equitas Small Finance FD calculator. Let’s know more about this tool in this article.
Equitas Small Finance Fixed Deposit (FD) Calculator
Equitas Bank fixed deposit interest rate falls between 3.50% and 8% for general citizens for deposit amount below ₹2 crore. However, senior citizens are eligible for an additional interest rate component of 0.50%. So, they can avail of a minimum of 3.50% and a maximum of 8.50% interest rate on Equitas Small Finance fixed deposits.
The interest rate keeps changing with the tenure and investment amount. To figure out the most suitable investment plan you need to determine the maturity amount. But manual calculations are prone to errors. An Equitas Small Finance fixed deposit calculator will help you plan your FD investment in a hassle-free way.
How does the Equitas Small Finance FD Calculator Work?
Fixed deposits are of two types- simple interest FDs and compound interest FDs.
If you are calculating maturity for compound interest FD, you have to use the following formula:
A = P (1 + r/n) ^ n*t
In this formula, “A” represents the FD maturity amount
“P” denotes your fixed deposit investment amount
“r” implies the annual Equitas Bank fixed deposit interest rate
“n” represents the frequency of compounding interest, and
“t” represents the investment term or tenure
You need to put the right investment amount, tenure and interest rate to calculate an accurate maturity amount.
Let’s understand the calculation procedure neatly with the help of the following example:
So, we can assume a fixed deposit investment of ₹70,000 for 5 years at an annual interest rate of 6% compounded annually.
As per the formula:
A = 70,000 (1 + 6%/1) ^ 1*5
A = ₹94,280
So, the interest amount is A – P, i.e., ₹94,280 -₹70,000 = ₹24,280
In case of simple interest, you have to use this formula:
M= P+ (PXRXT/100)
Here M is the maturity amount, P is the investment amount, T is tenure of investment and R is the rate of interest.
However, if you are doing the calculation manually, it can be a time-consuming process. Instead, you can use the Upstox Equitas Small Finance Bank fixed deposit calculator.
You can use this simple tool in the following easy steps:
1. Enter an investment amount on the “Total Investment” box
2. Now, drag the cursor to draw a purple line until reaching the desired tenure, or enter the number of years in the box provided
3. Finally, enter the interest rate and check the right side of the page
4. It will display the “Estimated Return”, and “Total Value” received against your FD investment
You can modify the figures for deposit amount, interest rate and tenure to obtain various interest results.
Benefits of an Online Equitas Small Finance Bank FD Calculator
Here are some excellent benefits that an online Equitas Small Finance FD calculator offers:
- It offers an easy and smooth interest calculation without any risk of inaccuracy.
- The Equitas Bank fixed deposit interest rate varies according to the investment tenure. You can compare the interest amount for different FD schemes and make a choice accordingly.
- This free online tool helps plan your investment goals in a convenient way and you can use it from anywhere at any time.
- You don’t need to share any personal details or sign up to use this tool.
Upstox Equitas Small Finance Bank fixed deposit calculator can be of great help if you are planning to invest in FDs. Its user-friendly interface assists in convenient calculation. Enter the necessary investment details in the tool and determine the maturity and accrued interest.
Frequently Asked Questions
What is the highest interest rate on Equitas Small Finance FD?
The highest interest rate on Equitas Small Finance FD is 8% for general citizens and senior citizens get an interest rate of up to 8.50%. These rates are applicable for deposit amount of less than ₹2 crore.
What is the minimum amount of investment for FDs under Equitas Small Finance?
The minimum amount of investment for FDs under Equitas Small Finance is ₹5000.
In how many years has FD doubled in the Equitas Small Finance Bank?
Using the rule of 72, you can calculate the number of years it will need to double Equitas Small Finance fixed deposit amount. You need to divide 72 by the rate of interest levied on your investment amount. For instance, if the interest amount for your FD amount is 7.8%, it will take (72/7.8) 9.23 years to double your deposit amount.
Do we have a premature withdrawal facility on Equitas Small Finance FD?
Equitas Small Finance Bank FD has a premature withdrawal facility subject to applicable penalties. However, no such facility is available for FDs with a monthly payout option. No partial withdrawal option is allowed for FDs with preferential rates. There will be a 1% penal interest rate.
Can I deposit an extra amount into an already existing FD?
No, you cannot deposit an extra amount into an already running FD under Equitas Small Finance. Instead, you can book another FD.
Does Equitas Small Finance provide an auto-renewal facility for fixed deposits?
Yes, Equitas Small Finance provides an auto-renewal facility for fixed deposits.
What is the lock-in period for Tax Saving FD Scheme?
The lock-in period for Tax Saving FD Scheme is of 5 years. Any kind of withdrawal or loan against FD is not allowed during this lock-in period.
Are there any special rates for senior citizens?
Yes, Equitas Small Finance offers a 0.50% additional rate component over and above the general interest rate.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.