Equitas Small Finance Bank has introduced two new slabs for savings bank (SB) deposit holders. Balances above ₹ 10 lakhs and up to ₹25 lakhs and from ₹25 lakhs to ₹1 crore earn interest of 7 per cent and 7.25 per cent, respectively.

“Balances up to ₹1 lakh will continue to earn an interest rate of 3.00%, while the extended slab for balances between ₹1 lakh and ₹10 lakhs will provide an interest rate of 5.00 per cent.

“….and balances from ₹1 crore to ₹25 crores will earn 7.50 per cent. For balances above ₹25 crore, the existing rate of 7.80 per cent remains unchanged,” the Bank said in a statement.

Murali Vaidyanathan, Senior President and Country Head – Branch Banking – Liabilities, Products & Wealth at Equitas Small Finance Bank, said, “In today’s dynamic financial environment, liquidity holds paramount importance.

“…With the new slabs in force, we continue to uphold the Power of 7 for our customers.”