Equitas Small Finance Bank Launches FCNR Deposits and Explorer Savings Account for NRIs and Seafarers
Equitas Small Finance Bank, one of India’s largest SFBs, has announced the launch of its Foreign Currency Non-Resident FCNR(B) Deposit and the Equitas Explorer Savings Account. These offerings are tailored to meet the evolving financial needs of Non-Resident Indians (NRIs) and seafarers respectively. The FCNR (B) Deposit offers NRIs a robust wealth management tool designed to grow global earnings with ease, providing tax-free interest income on earnings in India and full repatriation of both principal and interest. The Equitas Explorer Savings Account is designed for NRIs and Persons of Indian Origin (PIOs) working in foreign shipping companies, merchant navy, and oil rigs, offering features such as an International VISA Platinum Debit Card, insurance covers, and discounts on annual locker rentals.
Key Highlights
- Equitas Small Finance Bank launches FCNR (B) Deposit for NRIs with tax-free interest income and full repatriation of both principal and interest.
- The bank introduces Equitas Explorer Savings Account for seafarers and PIOs with features like International VISA Platinum Debit Card and insurance covers.
- FCNR (B) Deposit offers rewarding interest rates and no foreign exchange risk.
- Explorer Savings Account available in both NRE and NRO variants.
- Equitas SFB continues to expand its footprint in niche banking with these launches.