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Shivalik Small Finance Bank offers 9.30% interest to senior citizens on FD

Lender offers interest rate of 8.80% on fixed deposits for general citizens and 9.30% on FDs for senior citizens on select tenures

Fixed Deposit

Ayush Mishra New Delhi

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Shivalik Small Finance Bank has revised its interest rates for fixed deposits (FD), offering 3.50 per cent to 8.80 per cent for general citizens and from 4 per cent to 9.30 per cent for senior citizens.
 
Revised rates:
 
Shivalik has categorised interest rates based on different tenure brackets. For short-term deposits, the rates are:
 
Seven to 14 days: 4 per cent for general citizens, 3.50 per cent for senior citizens
 
15 to 29 days: 3.75 per cent for general citizens, 4.25 per cent for senior citizens
 
30 to 90 days: 4.25 per cent for general citizens, 4.75 per cent for senior citizens
 
 
91 to 180 days: 4.75 per cent for general citizens, 5.25 per cent for senior citizens
 
For medium-term deposits, the revised rates are:
 
Six months to less than nine months: 6 per cent for general citizens, 6.50 per cent for senior citizens
 
Nine months to 12 months: 6 per cent for general citizens, 6.50 per cent for senior citizens
 
12 months 1 day to less than 18 months: 8.80 per cent for general citizens, 9.30 per cent for senior citizens
 
18 months to 24 months: 8.30 per cent for general citizens, 8.80 per cent for senior citizens
 
For long-term FDs, the interest rates are:
 
24 months 1 day to 36 months: 7.50 per cent for general citizens, 8 per cent for senior citizens
 
36 months 1 day to 60 months: 6.50 per cent for general citizens, 7 per cent for senior citizens
 
60 months 1 day to 120 months: 6.25 per cent for general citizens, 6.75 per cent for senior citizens
 
Additionally, the tax saver FD (5 years/60 months) offers an interest rate of 6.50 per cent for general citizens and 7.00 per cent for senior citizens.
 
High returns on 12 to 18-month deposits
 
Among various tenure options, the highest interest rate of 8.80 per cent for general citizens and 9.30 per cent for senior citizens is offered on FDs maturing between 12 months 1 day and less than 18 months.
 
Shivalik Small Finance Bank FD rates    
Period
Rate of Interest (% p.a.)
 
  Amount less than Rs.3 Crores
  General Senior citizen
7 days – 14 days 4.00% 3.50%
15 days to 29 days 3.75% 4.25%
30 days to 90 days 4.25% 4.75%
91 days to 180 days 4.75% 5.25%
6 months to less than 9 months 6.00% 6.50%
9 months to 12 months 6.00% 6.50%
12 months 1 day to < 18 months 8.80% 9.30%
18 months to 24 months 8.30% 8.80%
24 months 1 day to 36 months 7.50% 8.00%
36 months 1 day to 60 months 6.50% 7.00%
60 months 1 day to 120 months 6.25% 6.75%
Tax saver FD 5 Years (60 months) 6.50% 7.00%
 
No interest will be paid if the fixed deposit is withdrawn within seven days from the date of deposit. Additionally, premature withdrawal will incur a 1 per cent penalty on the interest accrued for the period the deposit remained with the bank, rather than the contracted rate, according to the bank website.

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First Published: Jan 29 2025 | 10:57 AM IST

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