This SFB Revises Fixed Deposit (FD) Rates With Up To 8.10% ROI On 1-2 Years Tenor

Shivalik Small Finance Bank (SGB) has made an interest rate revision on its fixed deposits of less than Rs 2 Cr. Both new fixed deposits and renewals of existing fixed deposits are subject to the revised rates. The bank is now providing a maximum return of 8.10% to the general public and 8.60% to senior citizens over a one- to two-year tenure, after the modification. According to the bank's official website, the new FD interest rates take effect on November 24, 2023.

Shivalik SFB FD Rates

On fixed deposits maturing in 7 days to 14 days, the bank is offering an interest rate of 3.75% and on those maturing in 15 days to 29 days, Shivalik Small Finance Bank (SGB) is promising a return of 4.00%. Shivalik Small Finance Bank (SGB) is promising a return of 4.50% on a deposit tenure of 30 days to 90 days and 5.00% on FD tenure of 91 days to 180 days. Deposits maturing in 6 months to 12 months will fetch a return of 6.50% and those maturing in 12 months to 24 months will fetch 8.10% return.

The bank offers an 8.00% return on deposits maturing in 24 months, 1 day to 36 months, while Shivalik SFB offers a 7.00% return on deposits that mature in 36 months, 1 day to 60 months. A return of 6.75% will be paid on deposits maturing in 60 months, 1 day to 120 months, and 7.00% will be paid on tax-saving FDs that mature within 5 years (60 months).

Senior Citizens will receive an additional 0.5% premium over and above the aforementioned card rates.
"Interest rates are subject to change from time to time. Deposit will be booked upon availability of clear funds with the bank at applicable interest rate as on the date of receipt of the funds by the bank," mentioned Shivalik Small Finance Bank (SGB) on its website.

Regarding the premature withdrawals of fixed deposits, Shivalik Small Finance Bank (SGB) has mentioned on its website that "Please note that premature payment will attract 1% penalty on the interest earned during the period for which the deposit has been kept with the bank and not at contracted rate."