Equitas Small Finance Bank

What Equitas Small Finance Bank does

Equitas Small Finance Bank Limited is a publicly listed Indian Scheduled Commercial Bank (NSE: EQUITASBNK) headquartered in Chennai, licensed by the Reserve Bank of India in 2015 and operating 994-1,042 banking outlets and 365 ATMs across 18 states and Union Territories. The bank serves over 5 million customers with a core focus on financial inclusion, originating as a microfinance institution in 2007 and progressively diversifying into a full-service retail and small business bank. Microfinance has declined from over 50% of the loan book at conversion to roughly 10%, while secured assets (SBL, housing, vehicle, gold loans) now constitute about 88% of advances.

Name

Equitas Small Finance Bank

Legal name

Equitas Small Finance Bank Ltd.

Website

https://equitasbank.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Equitas Small Finance Bank is a publicly listed Indian bank serving over 5 million customers across 18 states with savings accounts, fixed deposits, microfinance, vehicle, home, gold, and MSME loans, distributed through 994+ branches and digital channels.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Small finance banking
• Microfinance lending
• Fixed deposit services
• NRI banking solutions
• MSME loans

Headquarters

HQ city

Chennai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Interest Income (NII): Interest income from lending activities (microfinance, gold loans, home loans, vehicle finance, MSME loans, personal loans, affordable housing) minus interest paid on deposits. NII was Rs 980 crore in Q1 FY27 (up 18.2% YoY). This is the dominant revenue stream for the bank.
2. Bancassurance Fee Income: Fee income generated from distributing third-party life insurance products (Bharti AXA Life Insurance, Canara HSBC Life Insurance) through the bank's branch network and digital channels under strategic partnership agreements.
3. Fee Income / Service Charges: Non-interest income from various banking services including account maintenance, transaction charges, and other service-related fees. The bank also offers FASTag, prepaid cards, gift cards, and credit cards generating additional fee income.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Equitas Small Finance Bank is a RBI-licensed Scheduled Commercial Bank offering a full suite of retail and small-business banking products including savings accounts, fixed deposits, personal/gold/home/vehicle loans, microfinance, MSME lending, NRI banking (FCNR deposits, NRE/NRO accounts, remittance), and third-party insurance distribution through bancassurance partnerships. Operations span 994+ banking outlets across 18 states and Union Territories, complemented by digital channels including the Equitas 2.0 mobile app, internet banking, WhatsApp banking, and Video KYC-enabled Selfe paperless onboarding.

Product overview

Equitas Small Finance Bank operates as a diversified banking platform offering a comprehensive suite of financial products and services. The bank's core offerings include multiple savings account variants (Digital, Elite, Eva, Wings, Regular, NRE/NRO), fixed deposits including the digital Selfe FD with video KYC onboarding, and a growing loan portfolio covering personal loans, gold loans, home loans, vehicle finance, and MSME lending. The bank has strategically expanded into digital-first products including the Equitas 2.0 mobile banking app and Selfe Loans DIY app. NRI banking services include FCNR deposits and Equi-Remit remittance solutions. Insurance distribution is enabled through bancassurance partnerships with Bharti AXA Life and Canara HSBC Life. The bank operates over 1,000 banking outlets across 18 states with a focus on financial inclusion, supported by digital banking channels including UPI, WhatsApp banking, and BBPS integration. The ELITE program provides premium services with enhanced rates and benefits.

Differentiator

Problem solved

Functional benefit

Brands

• Selfe: Digital banking brand offering instant digital savings accounts, Selfe Fixed Deposits with video KYC, and Selfe Loans through mobile app. Targets new-to-bank customers with paperless, contactless banking solutions.
• ELITE
• WINGS
• Eva Savings Account
• Equi-Remit
• Equi-Banker On Wheels

Products and services

• Savings Accounts Multiple savings account variants including Digital Savings Account (paperless online opening), Elite Savings Account (premium with locker discounts), Eva Savings Account (women-focused), Wings Savings Account, Regular Savings Account, and NRE/NRO accounts for non-resident Indians.
• Selfe Fixed Deposits Digital fixed deposit product fully accessible via Equitas 2.0 Mobile Banking App with Video KYC onboarding. Offers up to 7.75% p.a. for 888-day tenure for resident individuals and up to 8.25% p.a. for senior citizens. Fully paperless with no branch visit required.
• FCNR (B) Deposits Foreign Currency Non-Resident (Bank) deposits for NRIs offering USD deposits with competitive interest rates (up to 7.52% p.a. for 3-5 year tenures), tax-free interest in India, no forex risk, and full repatriation of principal and interest.
• Personal Loans Instant personal loans for various needs, accessible through Selfe Loans app or branch. No income proof required for secured loans.
• Gold Loans Gold-backed loans providing instant valuation for gold collateral with competitive interest rates. Features include easy documentation and quick disbursement.
• Home Loans Affordable housing finance for purchase, construction, or improvement of homes. Includes PMAY CLSS benefits for EWS/LIG (6.5% subsidy) and MIG categories (3-4% subsidy).
• Used Car Finance Vehicle financing for pre-owned cars with competitive rates, accessible documentation, and quick approval process.
• Loan Against Property Business and personal loans secured against residential or commercial property ownership.
• Equitas 2.0 Mobile Banking Primary mobile banking application enabling customers to manage accounts, book FDs, apply for loans, transfer funds via UPI, and access WhatsApp banking. Available on Android and iOS.
• Selfe Loans App Do-it-yourself mobile application for instant loan applications including personal loans, gold loans, home loans, and vehicle finance with easy digital disbursement.
• Equi-Remit NRI remittance service enabling seamless international fund transfers to India with competitive exchange rates and efficient processing.
• Business Current Accounts Current account variants tailored for business needs including MSMEs, with features like bulk deposits, multiple users, and trade finance capabilities.
• Credit Cards Credit card products designed for everyday value with smart rewards, competitive rates, and accessible eligibility for underserved segments.
• ELITE Program Premium banking program offering higher FD rates, locker discounts, complimentary insurance (ELITE ARTHA, ELITE LITE variants), and exclusive benefits for high-value customers.
• MSME Loans Micro, small, and medium enterprise lending including working capital, term loans, and business expansion financing with simplified documentation.
• Selfe FASTag Prepaid FASTag for toll payments on Indian highways with quick activation and digital management through mobile banking.
• PMAY Credit Linked Subsidy Pradhan Mantri Awas Yojana credit linked subsidy scheme providing interest subsidies of 6.5% for EWS/LIG (up to Rs 6 lakh loan) and 3-4% for MIG categories.
• Banker On Wheels (Equi-Banker On Wheels) Mobile banking service bringing banking services including account opening, deposits, and loan enquiries directly to customers' doorstep through a branded banking van.

Quantifiable outcome

• Loan portfolio transformation: secured assets now account for 88% of advances vs 10% for microfinance, reducing concentration risk
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability4 records

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Times PrimeminorGTM or Marketing Partner · 20 March 2026Times Prime and Equitas Small Finance Bank hosted an exclusive Purple Carpet movie premiere of Dhurandhar 2 in Delhi, Mumbai, and Bengaluru, aimed at Ultra HNI customers. The event combined entertainment with lifestyle rewards, with attendees enjoying curated experiences and exclusive gifts, serving as a premium customer engagement and brand building initiative.
• Bharti AXA Life InsurancecoreChannel Partner/ Reseller/ Distributor · 3 February 2026Equitas Small Finance Bank entered into a strategic bancassurance partnership with Bharti AXA Life Insurance to distribute life insurance products through the bank's branch network and digital channels. The collaboration aims to enable cross-selling of protection and savings solutions to Equitas's depositors and borrowers, combining Equitas's distribution strength in semi-urban and rural areas with Bharti AXA Life's insurance expertise across 1,042+ banking outlets in 18 states and Union Territories.
• Canara HSBC Life InsurancecoreChannel Partner/ Reseller/ Distributor · 30 September 2025Canara HSBC Life Insurance Company Limited entered into a strategic bancassurance partnership with Equitas Small Finance Bank to expand life insurance distribution across India. Under the agreement, Canara HSBC Life Insurance offers its portfolio of life protection, savings, annuity, child plans, and investment-linked solutions through Equitas SFB's network of 994 banking outlets and 365 ATMs spanning 18 states and Union Territories, aligning with IRDAI's vision of 'Insurance for All by 2047'.
• Maruti Suzuki IndiacoreStrategic or Co-development Partner · 13 June 2025Maruti Suzuki India and Equitas Small Finance Bank signed a memorandum of understanding for a strategic vehicle financing partnership offering retail financing solutions for new cars, used cars, and commercial vehicles. The Chennai-headquartered bank leverages its growing customer base to provide comprehensive financing solutions aimed at enhancing accessibility and affordability of Maruti Suzuki vehicles, expected to drive growth and customer satisfaction for both companies.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Regional players

• City Union Bank: Kumbakonam-headquartered private bank with similar South India retail/MSME focus; a regional comparable for branch economics, deposit pricing, and customer profile despite being a universal bank.
• Karur Vysya Bank: South India private-sector bank with concentrated branch footprint in Tamil Nadu and Karnataka, comparable SME and retail lending model to Equitas's core operating geography.

Direct peers

• DCB Bank: Mumbai-listed small private-sector bank with comparable retail/MSME focus, mortgage and gold loan portfolio, and pursuit of higher-yielding segments—a relevant size and product comparable for Equitas.
• AU Small Finance Bank: Largest Indian SFB by assets and the first to receive a universal banking license (Aug 2025), making it the closest comparable to Equitas in product mix, customer segment focus, and aspirational trajectory toward universal banking.
• Ujjivan Small Finance Bank: Bengaluru-based SFB with similar microfinance roots, focused on financial inclusion and small-business lending; directly competes with Equitas for microfinance and MSME customers across South and West India.
• Suryoday Small Finance Bank: Mumbai-based SFB focused on affordable housing, MSME, and microfinance lending with a similar branch-led distribution model, competing head-to-head in tier-2/3 markets.
• ESAF Small Finance Bank: Kerala-based SFB with similar microfinance heritage and financial-inclusion mission, overlapping customer segments in South India and competing for the same pool of self-employed borrowers.

Broad incumbents

• Bandhan Bank: Universal bank that originated from microfinance, serving similar underserved retail and MSME segments; broader product portfolio and larger balance sheet but overlapping customer base and lending philosophy.
• Federal Bank: Indian private-sector bank with strong Kerala/South India retail franchise, comparable deposit-gathering model and focus on NRI banking—directly competes with Equitas in its core geography.

Emerging players

• CreditAccess Grameen: Largest pure-play microfinance institution in India serving rural women borrowers; a useful peer for understanding microfinance portfolio dynamics that still drive ~10% of Equitas's loan book.

Market position

Strengths5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/EquitasBank
• YouTubeyoutube.com/channel/UCQVXnzmkbs7d0ZAJVhl3pUg
• Facebookfacebook.com/EquitasBank
• LinkedInlinkedin.com/company/equitas-small-finance-bank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds6 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Equitas Small Finance Bank