Shivalik Small Finance Bank (SFB), one of the DICGC-insured small finance banks noted for offering higher deposit rates than public and private sector banks, has launched a new offer on savings accounts, fixed deposits (FDs), and recurring deposits (RDs). have revised their interest rates. ) The bank made the change on May 27, 2022, and as a result of the amendment, savings account holders will get a maximum interest rate of 7%, while fixed deposit holders will get a maximum rate of 7%.
Shivalik SFB Savings Account Interest Rates
The bank is currently offering 3.50 percent interest rate on savings bank deposits. 1 Lakh to 10 Lakh, and 4% interest rate on deposits above 10 Lakh to 50 Lakh. Shivalik SFB is offering interest rate of 4.50 per cent and 5.00 per cent in savings account above 50 lakh to 1 crore and 1 crore to 2 crore. Savings bank deposits between Rs. 2 crores Rs. 7 crore and above will now get the maximum rate of 7%. These interest rates will be calculated on the day end savings account balance and will be paid on quarterly basis, the interest will be calculated on the incremental balance slab as per the bank.
| savings bank accounts | Interest Rate (% p.a.) |
| 1 Lac . balance up to | 3.50% |
| Above 1 lakh 5 lakh | 3.50% |
| Above 5 lakh 10 lakh | 3.50% |
| Above 10 lakhs 25 lakhs | 4.00% |
| Above 25 lakhs 50 lakhs | 4.00% |
| Above 50 Lakh 1 Crore | 4.50% |
| Above 1 Crore 2 Crore | 5.00% |
| Above 2 Crore 5 Crore | 7.00% |
| Above 5 Crore 7 Crore | 7.00% |
| 7 crore and above | 7.00% |
Shivalik SFB FD Rates
The interest rate on fixed deposits with maturities of 7 to 14 days is 3.75 per cent, and on deposits with maturities of 15 to 29 days, the interest rate is 4.00 per cent. Fixed deposits maturing in 30 days to 90 days will now attract 4.50 percent interest, while fixed deposits maturing in 91 days to 179 days will attract 5.00 percent interest. Shivalik SFB will now pay 5.75 per cent interest rate on fixed deposits maturing from 180 days to 364 days and 6.00 per cent interest rate on deposits maturing from 365 days to 547 days. The bank offers an interest rate of 6.50 per cent on deposits maturing in 548 days to 729 days and a maximum interest rate of 7.00 per cent on deposits maturing from 730 days to 998 days. Deposits with maturity of 999 days or more will now earn 5.75 percent interest.
| tenure period | less than 25 lakhs | 25 lakhs to less than 2 crores | 2 crore and above | senior citizen |
| 7 days to 14 days | 3.50% | 3.75% | 3.75% | 4.00% |
| 15 days to 29 days | 3.75% | 4.00% | 4.00% | 4.25% |
| 30 days to 90 days | 4.25% | 4.50% | 4.50% | 4.75% |
| 91 days to 179 days | 4.75% | 5.00% | 5.00% | 5.25% |
| 180 days to 269 days | 5.50% | 5.75% | 5.75% | 6.00% |
| 270 days to 364 days | 5.50% | 5.75% | 5.75% | 6.00% |
| 365 days to 547 days | 5.75% | 6.00% | 6.75% | 7.00% |
| 548 days to 729 days | 6.50% | 6.50% | 7.00% | 7.25% |
| 730 days to 998 days | 7.00% | 7.00% | 7.00% | 7.25% |
| 999 days and above | 5.50% | 5.75% | 5.75% | 6.00% |
Shivalik SFB Tax Saver Fixed Deposit Rates
up to tax-saving on deposits 1.5 lakh with a lock-in period of 5 years, the bank offers 6.25% regular rate and 6.75% to senior citizens. Investors can claim tax benefits under section 80C on tax saving deposits but cannot make premature withdrawals from their accounts.
| tenure | General | senior citizen |
| 5 years | 6.25% | 6.75% |
Shivalik SFB RD Rates
According to the bank’s website, “Flexi Recurring Deposit Accounts are opened for a period specified in several quarters. Interest for a period of 6 months and above is compounded quarterly and is payable on maturity. For senior citizens/employees The additional benefit on Recurring Deposit will be 0.5 per cent over regular card rates.
| tenure | General | senior citizen |
| 6 months to less than 9 months | 5.50% | 6.00% |
| 9 months to less than 12 months | 5.50% | 6.00% |
| 1 year to less than 18 months | 5.75% | 6.25% |
| 18 months to less than 2 years | 6.50% | 7.00% |
| 2 years to less than 3 years | 7.00% | 7.50% |
| 3 years to 10 years | 5.50% | 6.00% |
Source: Bank’s website