Equitas Small Finance Bank does not apply maintenance charges on all savings accounts
CHENNAI Equitas Small Finance Bank Limited has waived non-maintenance charges at all keeping accounts .
The bank offers up to 7.5% per year in savings and up to 8.25% per year in fixed deposits (additional 0.60% for seniors).
It also states that it offers lower transaction charges and benefits certain customers.
In addition, premature closure and partial withdrawal are allowed for the elderly. The bank also offers discounts and other privileges with Equitas Small Finance Bank debit cards. The interest rates offered on savings and FD are aimed at clients who want to earn more on their savings.
Murali V, president and country head of 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.”
Murali V added: “We intend to further strengthen our liability franchise with a focus on the growth of our retail deposit and the CASA deposit base to provide us with a stable and low-cost source of financing. Our goal is to achieve this by attracting larger retail deposits from our customer segments and, in particular, from the massive and wealthier customer segments. For example, we recently launched differentiated CASA products for various types of customers, such as the Wings Account for high-income depositors and the Elite Program for higher-income households. We present an online account called Selfie Digital Savings Account, which allows potential customers to open an online bank account.