Earn Up To 9.10% Interest On FD! Check This Bank’s Special Offer For Seniors

At a time when investors are concerned about declining fixed deposit (FD) rates following the Reserve Bank of India's recent repo rate cut, Shivalik Small Finance Bank has revised its FD interest rates, offering up to 9.10 per cent for senior citizens.

The latest revision, effective from February 18, makes Shivalik Small Finance Bank one of the few banks offering such high FD returns, making it an attractive option for those looking to maximize their savings.

Fixed Deposits Of Less Than Rs 3 Crore (With Premature-Withdrawal Facility)

Period	Rate Of Interest
7 days to 14 days	4.00 per cent
15 days to 29 days	4.25 per cent
30 days to 90 days	4.75 per cent
91 days to 180 days	5.25 per cent
6 months to less than 9 months	6.50 per cent
9 months to 12 months	6.50 per cent
12 months 1 day to	9.05 per cent
18 months to 24 months	8.80 per cent
24 months 1 day to 36 months	8.00 per cent
36 months 1 day to 60 months	7.00 per cent
60 months 1 day to 120 months	6.75 per cent
Tax Saver FD 5 years (60 months)	7.00 per cent

Non-Callable Fixed Deposits Of Amount More Than 1 Crore And Less Than Rs 3 Crore (Without Premature-Withdrawal Facility)

Period	Rate Of Interest
7 days to 14 days	4.05 per cent
15 days to 29 days	4.30 per cent
30 days to 90 days	4.80 per cent
91 days to 180 days	5.30 per cent
6 months to less than 9 months	6.55 per cent
9 months to 12 months	6.55 per cent
12 months 1 day to	9.10 per cent
18 months to 24 months	8.85 per cent
24 months 1 day to 36 months	8.05 per cent
36 months 1 day to 60 months	7.05 per cent
60 months 1 day to 120 months	6.80 per cent

The Noida-headquartered small finance bank also notes that

• The revised rates are applicable for fresh Fixed Deposits and renewal of existing Fixed Deposits.
• The Bank computes interest based on the actual number of days in a year. In case, the Deposit is spread over a leap and a non-leap year, the interest is calculated based on the number of days i.e.,366 days in a leap year & 365 days in a non-leap year.
• No Interest would be payable if the depositor withdraws the Fixed Deposit amount within 7 days from the date of deposits.
• For Fixed Deposits with tenure up to 180 days, interest will be calculated at maturity as simple interest.
• 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.
• Fixed Deposit Interest will be subject to Tax Deducted at Source as per Income Tax Laws

For investors, particularly senior citizens looking for stable and high returns, these revised FD rates offer a lucrative opportunity to grow their savings.