Shivalik Small Finance Bank has been recognised as a scheduled bank by the RBI, which makes its depositors eligible for deposit insurance provided by the Depositor Insurance and Credit Guarantee Corporation (DICGC). The deposit insurance cover from DICGC, an RBI subsidiary, insures cumulative deposits up to Rs 5 lakh made by each depositor, including his fixed deposits, savings, current, and recurring deposits, in each scheduled bank in case of the failure or merger/amalgamation of a scheduled bank.
Shivalik Small Finance Bank FD Interest Rates (p.a.) Highlights 2022 | |
| Highest slab rate | 7.00% (for 730 days to 998 days) |
| For 1 year | 6.50% |
| For 2 years | 7.00% |
| For 3 years | 5.50% |
| For 4 years | 5.50% |
| For 5 years | 5.50% |
| Tax-Saving FD | 6.25% |
The interest rates are updated as of 16 August 2022
Shivalik Small Finance Bank FD Rates 2022
Fixed Deposit Interest Rates on Domestic deposits of Rs 25 lakhs w.e.f. August 5, 2022
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days | 3.50 | 4.00 |
| 15 days to 29 days | 3.75 | 4.25 |
| 30 days to 90 days | 4.25 | 4.75 |
| 91 days to 179 days | 4.75 | 5.25 |
| 180 days to 269 days | 5.50 | 6.00 |
| 270 days to 364 days | 5.50 | 6.00 |
| 365 days to 547 days | 6.50 | 7.00 |
| 548 days to 729 days | 6.50 | 7.00 |
| 730 days to 998 days | 7.00 | 7.50 |
| 999 days and above | 5.50 | 6.00 |
Shivalik Small Finance Bank Tax Saver Deposit
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years | 6.25 | 6.75 |
FD Interest Rates on Domestic deposits w.e.f. August 5, 2022
| Tenure | Interest Rates (% p.a.) | |
| Deposits of Rs 25 lakhs to less than Rs 2 crore | Deposits of Rs 2 crore and above | |
| 7 days to 14 days | 3.75 | 3.75 |
| 15 days to 29 days | 4.00 | 4.00 |
| 30 days to 90 days | 4.50 | 4.50 |
| 91 days to 179 days | 5.00 | 5.00 |
| 180 days to 269 days | 5.75 | 5.75 |
| 270 days to 364 days | 5.75 | 5.75 |
| 365 days to 547 days | 6.50 | 6.75 |
| 548 days to 729 days | 6.50 | 7.00 |
| 730 days to 998 days | 7.00 | 7.00 |
| 999 days and above | 5.75 | 5.75 |
Types of Shivalik Small Finance FD Schemes
Regular Fixed Deposits
- Tenure: 7 days to 10 years
- Depositors can either opt for a monthly or quarterly interest pay-out option
- Depositors also have the option of receiving interest pay-out at maturity
- Loan/overdraft facility is available
- Senior citizens are offered an additional 0.50% interest rate over regular FD rates
- Interest calculation for deposits up to 6 months is on a simple interest basis.
- Interest calculation above 6 months: compounded quarterly
- Premature withdrawal of FD will attract a 1% penalty on the interest for the duration, which the deposit has run, or the card rate of the original FD whichever is less
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Tax Saver Fixed Deposit
- Deposits under this scheme are eligible for a tax deduction of up to Rs 1.5 lakh under Section 80C in each financial year
- Minimum deposit amount: Rs 1,000
- Lock-in period: 5 years
- This scheme offers an additional 0.50% interest rate to senior citizen FD depositors