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Equitas Small Finance Bank Zero Balance Savings Account, Features, Interest Rates

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The Equitas Bank Offers Selfe Savings Account and BSBDA which are zero balance account inclusive of all banking facilities like a Higher Rate of interest Upto 7%, Free Virtual RuPay Card, Zero Average Monthly Balance (AMB), and More.

Step- 1

Zero Balance Savings Account with Equitas Bank
Zero Balance Savings Account with Equitas Bank

About Equitas Bank

Equitas Small Finance Bank is a small finance bank established in 2007 under the unit of Equitas as a Microfinance lender. It’s has received a banking license on 30 June 2016 from the Reserve Bank of India (RBI).

A journey from a micro finance company to a small finance bank it has achieved the largest distribution channel including 322 ATMs and 853 Banking Outlets in pan India.

Currently, Mr. Vasudevan Pathangi Narasimhan is the MD and CEO of the Bank and in his leadership, Chennai based Equitas Small Finance Bank aim unserved class of society get access to banking and financial services more reachable price for common people of India.

Features of Equitas Bank Zero Balance Selfe Savings Account.

  1. No Charge for Zero Average Monthly Balance (AMB). It means Equitas Selfe Saving Account Holder Minimum balance headache will be gone.
  2. Rate of Interest 3.5% for Zero Upto Rupee 1 Lakh.

Rate of Interest 7% for 1 Lakh Upto Rupee 30 Crore.

Rate of Interest 7.25% for 30 Crore Upto Rupee 50 Crore.

Contact to Branch for more than 50 Crore.

Rate of Interest decided by Daily Closing Balance.

  1. Free Virtual Debit Card to do online transactions. You can choose your name on the backside of the Virtual Debit Card. Once the full KYC will be completed, the Customer gets a Physical Debit Card.
  2. Selfe savings account gives facilities the option to open Joint accounts and single accounts.
  3. Online account opening- Selfe Savings is a digital bank account so you need take care of Pan Card, Aadhaar card, and Aadhaar linked mobile number to instantly complete the online process.

Eligibility Criteria to Open Selfe Savings Account.

  1. Any Indian resident individual having completed their 18 years of age can apply.
  2. Pan Card, Aadhaar Card, And Aadhaar linked operational mobile number required.

How to open Selfe Savings Account online?

We are providing here step by step explanation with screenshots. Make sure you have a proper internet connection with the mention details as earlier discussed in the Eligibility Criteria.

Step-1

We should click on Selfe Savings Option.

Zero Balance Savings Account with Equitas Bank
Zero Balance Savings Account with Equitas Bank

Step-2

Click on Open Selfe Saving Button it will drive on the online process links.

Zero Balance Savings Account with Equitas Bank
Zero Balance Savings Account with Equitas Bank

Step-3

Click on the Let’s Get Started Button Begin Your Online account Process.

Zero Balance Savings Account with Equitas Bank
Zero Balance Savings Account with Equitas Bank

Step -4

Fill your state, Location, and Branch details.

Zero Balance Savings Account with Equitas Bank
Zero Balance Savings Account with Equitas Bank

Step-5

You have to fill Official Name and Aadhaar Registered Mobile Number.

Zero Balance Savings Account with Equitas Bank
Zero Balance Savings Account with Equitas Bank

Step-6

You have to fill in the given below details.

Zero Balance Savings Account with Equitas Bank
Zero Balance Savings Account with Equitas Bank

Step-7

Tick Mark all options and go to the next step.

Zero Balance Savings Account with Equitas Bank
Zero Balance Savings Account with Equitas Bank

Step -8

You click on Verify Pan Option and you will get confirmation details of your account. After that in the upcoming step, you simply put your personal and OTP, and in the Last, there will an option to download the app.

You can simply download your app and enjoy using the Equitas Bank Account.

The following given points should be remembered for Equitas Zero Balance Selfe Savings Account.

The Equitas Selfe Savings Account holder can choose Video KYC Or Visiting one’s nearest branch to complete the full KYC Process within a year. Until Full KYC of the account holder does not hold more than Rs. 1 Lakh and overall Credit transactions do not exceed from Rs. 2 Lakh in a year.

After Successfully Completed the Full KYC account holder get a physical debit card.

quitas Basic and Small Savings Account.

It’s an Equitas Zero Balance Savings Account with a no-frills account it means neither you have to pay for maintaining the average monthly balance nor banking maintenance Charge. Equitas Bank is highly committed to supporting the Reserve Bank of India’s mission to increase financial inclusion by making Equitas Zero Balance Savings Account more accessible to individuals from low-income backgrounds.

 Features of Basic and Small Savings Account

No Balance requirement, Free RuPay Debit Card. Get Access of awesome service we offer!

  1. Average Monthly Balance is NIL its means you will not penalize for having a zero balance.
  2. No Maintenance Charges for Banking Services
  3. Free Rupay Debit Card you can enjoy cashless shopping from your comfort of the convenient zone.
  4. Various withdrawal methods you can withdraw your cash from ATMs and The Bank Branches respectively.
  5. Mobile Banking/Net Banking/NEFT/ Cheque Clearing gives you the freedom to pay utility bills, Check the account statement online, Transfer funds, and more.
  6. You can choose your favorite number as a Bank Account Number.
Zero Balance Savings Account with Equitas Bank
Zero Balance Savings Account with Equitas Bank
How to apply for Basic and Small Savings Account with Equitas Bank

Step- 1

You need click on Open Account and you can choose an option to call toll free mobile number

1800-103-1222 or Enquiry Form.

Step -2

In this step you have to fill in your basic details do let connect Authorize Bank Representative.

Enjoy easy and convenient cashless shopping with RuPay platinum debit card

FAQ
  1. Should I Choose to open an account small finance bank?

Yes. The Reserve Bank of India has taken responsibilities as it has taken for other banks and generally small finance banks offers more lucrative interest rates on deposits.

  1. Who can apply to open a zero balance account in Equitas Bank?

Any Individual having Indian citizenship and completed 18 years of age.

  1. Can I open Equitas Bank Zero Balance Savings Account online?

Yes.

  1. Is the Aadhaar Number Mandatory to open a Selfe Savings account?

Yes.

  1. Don’t have KYC Documents can I open a Basic and Small Savings Account?

Yes. You can ask the process to a bank representative.

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