Equitas Small Finance Bank Online Account Opening

Equitas Small Finance Bank Online Account Opening

Equitas small finance bank online account opening

Well in our previous blogs there is a post about various banks like Kotak 811, DBS Bank, Fincare 101, Bandhan Bank, and another yet we have come up with one among many, but in today’s topic we will be Addressing the new uprising bank that has even address the in IPO as well, that is Equitas small finance bank. Well, will Focus on the Equitas small finance bank online account opening benefits and eligibility.

Equitas small finance bank started performing banking activities from 5th September 2017, After receiving the Licence from the Reserve Bank of India (RBI) on 30 June 2016. Since 4th February 2017, Equitas bank has become a Scheduled Bank.

Equitas Small Finance Bank is a small finance bank that was established in the year 2007 by Equitas, initially, it was meant for a microfinance lender, headquarters in Chennai, India.

The bank was planning to build a network of 412 branches in more than 11 Indian states by the end of the financial year 2016-17. However, the bank was able to fulfill its target and even committed itself to improve itself in terms of technology-based moreover 80-90% of the transactions are happening online since 2017.

Currently, the Equitas small finance bank has 15900+ employees at the service, Branches across 15 states, and 850+ Branches, and 6.1 Million happy customers.

Equitas Development Initiatives Trust

Equitas Small Finance Bank established a program called  Equitas Development Initiatives Trust (EDIT) in the year 2008 to focus on the ESG (which stands for Environmental, Social and Governance) social services. The bank committed 5% of its profits towards EDIT in the year 2018.

In the year 2010 EDIT established Equitas Gurukul Matriculation School.
By the year 2017, the schools were started providing employment opportunities to around 400 people and educated about 5,700 students primarily.
EDIT also has started a program named Equitas Bird’s Nest that seeks to help poor people who are homeless leaving footpaths. By improving the lives of more than 1300+ families in the state of Chennai with the help of the Equitas Bird’s Nest program, Equitas Celebrate its first milestone in the EDIT program in the year of march 2018.

Open instant Equitas Small Finance Bank savings account online:

Well, Equitas Small Finance Bank offers various forms of saving account to its customer each saving account contains various different aspects to fulfill the needs of its existing and potential customer.

Here are some of the benefits of opening a saving bank account in Equitas Small Finance Bank:

  • Firstly, Equitas Small Finance Bank offers a variety of savings accounts for each and every segment of their customer base.
  • To open a savings bank account in Equitas Small Finance Bank the minimum required balance is Zero.
  • You can get up to a 7% Rate of interest on your Equitas Small Finance Bank account.
  • You can instantly open an Equitas Small Finance Bank online within a couple of minutes hassle-free.
  • One of the most important features the bank has Internet and mobile banking facilities available.
  • Equitas Small Finance Bank provides even provided the safe deposits locker facility as well.

Equitas Small Finance Bank Savings account Interest Rate:

There are various products of Equitas Small Finance Bank, it provides various forms of saving account suitable for each and every segment of the people, below provided is the list of the savings account in Equitas Small Finance Bank.

ProductInterest RateMinimum Balance
Wing SB Account3.50% – 7.25% 

The minimum balance required for opening an account is zero to all the accounts.

Regular SB Account3.50% – 7.00%
Selfe Savings bank account0.00% – 7.25%
Elite SB Account3.50% – 7.25%
Edge3.50% – 7.25%
Basic and Small saving bank account3.50% – 7.25%
My saving account3.50% – 7.25%

Today well be focusing on the 3 major accounts that are as follows:

My saving account, Basic and Small saving bank account, and Selfe Savings:

Basic and Small saving account:

Basic and Small saving account as the name itself simplifies the activities of the account, this account aims to fulfill the basic requirement of the customer who is seeking all the basic transitional facilities.

My saving account:

This account from Equitas Small Finance Bank was brought into the light to develop a habit of saving, the account provides a higher interest rate of  3.25% – 7.25% along with the security and a higher limit on the cash deposit.

Selfe Savings:

This is one of the most updated formats of opening an account the account can be open in an instant but the customer need to make a selfie video to provide the authenticity to the Bank, a video holding Pan or Aadhaar card stating the details in the video and uploading to the banking portal will provide you the eligibility for opening an account.

Key Features of Equitas Small Finance Bank:

  • Zero average minimum balance for all the above accounts
  • Equitas Small Finance Bank provides the Nomination facility to its account holders
  • All the facilities like NEFT, RTGS, IMPS are available to all its users.

Eligibility of Equitas Small Finance Bank:

  • The person who wants to open an account should be a resident of India.
  • The Minimum Age limit to open the Account is 18.
  • Documents like PAN and Aadhaar Card are Compulsory to open an account.

How to open an Equitas Small Finance Bank online?

To Open you need to follow certain steps lets understand them one by one as follows:

Step 1: Firstly, Visit the official Website of Equitas Small Finance Bank, Click Here

Step 2: Then Click on the OPtion that says open an Account:
Once you click on the page it will take you to the page wherein, you are requested to fill in the details of your location through your pincode number and then select the city and then choose the branch you want to open an account in.

Step 3: After completion of step 2 then you will provide with an online form wherein you need to fill in all the details like Name, Date of Birth, PAN Card and Aadhaar Card details, etc then after uploading all the details your account will be instantly be opened.

Equitas Bank Savings Account Helpline:

In case there are any queries or issue or to know more about Equitas Small Finance Bank you can
call to there Tool-free number 1800-103-1222 

 

Conclusion: 

In Summary, to the topic “Equitas Small Finance Bank Online Account Opening”
we have briefly mentioned all feature, benefits, and Eligibility of the Equitas Small Finance Bank,
Well, there are various banks in the market providing the same features, but charging the customer various unnecessary chargers that the customer is aware of.

In other words, This account is one of the best saving accounts for the sake of saving which is one of the best and
highest interest providers in the market 3.5% – 7%, which can be a huge benefit for the low-income
and student group.

 

[Read More: How To Open Fincare 101 Saving Account online  ]

 

[ Read More: Kotak 811: Features, Eligibility, and How to Open Kotak 811  ]

 

About the author

BFSI 18

Leave a Comment