
Savings Account Interest Rate w.e.f. 14th December, 2022
- Savings account interest rate
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Daily Closing Balance Rate Slab Up to ₹ 1 lakh 3.50% Above ₹ 1 lakh up to ₹ 5 lakhs 5.25% Above ₹ 5 lakhs 7.00%
Interest will be calculated on the daily closing balance of the account
Interest will be paid on quarterly basis by direct credit in the savings account
Slabs Rates are applicable on the incremental amount based on the closing balance
Please read all terms and conditions
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Charges
Schedule of charges for Wings Savings Accounts w.e.f 8th January 2023.
- Features & Criteria and Charges
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Average Monthly Balance (AMB) - Metro and Urban ₹ 50,000/- Average Monthly Balance (AMB) - Semi Urban & Rural ₹ 25,000/- AMB Non Maintenance Charges NIL Cheque Book Free - Wings Family Banking Program
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Maximum Family Members 4 Relationship Requirement at Family Level* Combined Savings AMB of ₹1 lac or Combined Relationship Value (RV) of Rs 5 lacs AMB/RV Non Maintenance Charges NIL Type of Accounts Allowed Regular Savings, Eva, Wings Type of Debit Card Debit Card for applicable Product Debit Card Charges Waived for all Family Members Family Members As per Family Definition mentioned below Locker Discount 25% for all Members - International Debit Card
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Choice Of Debit Cards Wings Signature Wings Platinum Issuance Fees (First Year) NIL NIL Renewal Fees (Second Year onwards) ** Waived on maintenance of ₹50,000 AMB or ₹2,00,000 RV ₹400 p.a. ₹199 p.a Daily Cash withdrawal Limits (ATM) ₹1.5 lacs Daily Shopping Limits (PoS and online) ₹3.0 lacs Cash Withdrawal Transactions (other Bank ATMs) 3 Transactions 3 Transactions Airport Longue Access at Domestic Terminals 2 per quarter 1 per quarter Fuel Surcharge at Petrol Pumps Nil Unlimited Nil Unlimited Free Air Accident Coverage (On Request)^ ₹30 lacs Free Personal Accident Coverage (On Request)^ ₹10 lacs Free Home Burglary and Fire accident Coverage(On Request)^ ₹2 lacs Reward Points (PoS Spends) 2 Points for spend of ₹100/- 2 Points for spend of ₹150/- Cash Withdrawal outside India ₹110/- per transaction Balance Inquiry outside India ₹25/- per transaction - Payment Service Charges
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RTGS Inward Free NEFT Inward Free IMPS Inward Free RTGS Outward Free NEFT Outward Free IMPS Outward (per day limit of ₹5,00,000) ₹1/ - per transaction PAP Cheque payment Free Demand Draft / Pay order (ESFB Branch Location) Free up to 10 DDs per month Charges beyond 10 per month (ESFB Branch Location) 50 per DD Demand Draft (Non ESFB Branch Location) 100 per DD - Clearing and Collection Charges
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Local cheque clearing Free Outstation cheque collection charges
"Up to ₹5,000 – ₹25; Above 5,000 and upto ₹10,000 – ₹50; Above ₹10,000 and upto ₹1,00,000 – ₹100; Above ₹100,000 –₹150 - Cash Transaction Charges
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Cash Deposit Free Limit (Branch & ATM) - Any Equitas Branch Free till ₹2,50,000 per month Cash Deposit Charges beyond free limits (Home Branch & Non Home Branch) ₹4/1000 Cash Withdrawal at home location Free Cash Withdrawal at non-home location Free - Other Banking Services Charges
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Stop Payment Online Free Unlimited Stop Payment of Cheque at Branch ₹100 Stop Payment of Full Cheque Book at Branch ₹150 for a series of 25 cheques Inward Cheque return for technical Reason Free Outward Cheque return for technical Reason Free Inward Cheque return charges for Financial Reasons ₹350 per cheque up to 2 cheques
₹500 per cheque for 3-5 cheques
₹750 per cheque 6th cheque onwards
Outward Cheque return charges for Financial Reason ₹100 per cheque Standing Instructions for RD Free Standing Instructions for SIP Free Standing Instructions for Bill Payment Free Standing Instruction Failure (Financial Reasons) ₹150 per return ECS / NACH Failure (Financial Reasons) ₹200 per return SMS alerts Free Balance Certificate Online Free Balance Certificate at Branch Free Previous year balance and interest statement - online Free Previous year balance and interest statement (physical copy) 1 free per annum, ₹300 per statement thereafter Passbook issuance Free Signature verification certificate / Photo attestation / Address confirmation ₹50 per instance Duplicate TDS certificate ₹150 Duplicate account statement online or on email Free Duplicate account statement print ₹50 DD / PO revalidation / cancellation ₹100 Account closure charges if closed on customer request after 15 days of account opening and before completing 6 months ₹500 - Doorstep Banking
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Cheque pickup (on call) ₹50 per instance Cheque pickup beat (Per month) ₹300 - Cash Pickup on Beat (Charges per month)
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Up to ₹2,00,000 ₹ 2,200 ₹2,00,000 to ₹5,00,000 ₹3,200 ₹5,00,000 to ₹10,00,000 ₹8,000 ₹10,00,000 to ₹20,00,000 ₹12,000 ₹20,00,000 above Contact Branch - Cash Pickup on call (Charges per instance)
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Up to ₹2,00,000 ₹ 150 ₹2,00,000 to ₹5,00,000 ₹300 ₹5,00,000 to ₹10,00,000 ₹500 ₹10,00,000 to ₹20,00,000 ₹800 ₹20,00,000 above Contact Branch
Guidelines
The Equitas Wings Family Banking Program qualification to be measured six monthly. In case of non fulfilment of eligibility criteria, the family Banking Program Benefits shall be withdrawn. Once withdrawn, the respective Schedule of Charges of individual account shall apply for each person. RV (Relationship Value) includes balances in Savings accounts, Fixed Deposits and Recurring Deposits.
With respect to Debit Card Charges, it is clarfied that:
1) If Customer has opted for Wings Family Banking Program and has fulfilled the combined Family criteria, the Debit Card charges for family members are waived
2) If Wings Family banking Program is not opted/or withdrawn, then Debit Card charges are waived on each customer maintaining either Rs. 50,000 AMB or Rs. 2,00,000
RV at an individual level.
ELITE Debit Card is issued to ELITE customers only, Rs.499 charges applicable if customer no longer holds ELITE program status(contact customer care/branch for replacement debit card to avoid changes)
- Cash withdrawal failed due to insufficient funds considered as financial transaction
- All Debits, Credits above ₹5000 only (for alert of credit below ₹5000 raise request with branch or customer care)
- Insurance can be availed by logging into www.equitasbank.com and signing up by clicking on the Wings page. Benefits are applicable only when specifically registered.