Shivalik Small Finance Bank Fixed Deposit Rates

Share on :

Established in the year 1998, Shivalik Small Finance Bank is the first financial institution to transition from an Urban Co-operative Bank to a Small Finance Bank. Before transitioning, it was known as Shivalik Mercantile Co-operative Bank. With its 24 years of experience, Shivalik Bank offers retail banking products and services focusing on technology as its key guiding principle.

At present, the bank has 57 branches and a customer base of 6.41 lakhs. Apart from offering seamless banking facilities, they also aim to become socially responsible impact leaders. Shivalik Small Finance Bank offers quite a number of FD schemes to meet the different needs of customers. Let’s explore the Shivalik Small Finance Bank FD rates and schemes.

Minimum Deposit	₹1,000/-
Maximum Deposit	₹10,00,000/-
Minimum Tenure	7 days
Maximum Tenure	10 years
Interest Rates	3.75% to 8.65% (including rates applicable for senior citizens)
Lock-in Period	5 years lock-in period applicable for Shivalik Tax Saver Fixed Deposit
Senior Citizen	4.25% to 8.65% (including deposits below ₹2 crores and above it)
General Citizen	3.75% to 8.15% (including deposits below ₹2 crores and above it)

Table of Contents

Shivalik Bank FD Rates – February 2024

Tenure	General Citizen	Senior Citizen

Features and Benefits of Shivalik Small Finance Bank FD

If you are planning to invest in FD schemes offered by Shivalik Small Finance Bank, you can go through the features and benefits discussed below:

Shivalik Bank offers flexible tenure options with their FD schemes.
Senior citizens can earn an additional 0.50% on top of the Shivalik Small Finance Bank FD rates available otherwise to general people.
With Shivalik Bank, you get an auto-renewal option on your FD schemes.
You can also liquidate your funds at your convenience with the premature withdrawal option.
When you invest in an FD scheme, you can also receive your interest income monthly or quarterly.
These FD schemes also come with a re-investment option by which you can get interest that has been compounded quarterly.

How to Book Shivalik Small Finance Bank FD?

Shivalik Small Finance Bank offers the option to book their FD schemes online and offline. Let us take a look at the steps to follow:

Online

Here’s how you can book an FD scheme in Shivalik Bank using their net banking facility:

Step 1: Log in to the official website of Shivalik Small Finance Bank.
Step 2: Scroll down a little and find the ‘Fixed Deposit’ option. Click on the ‘Know More’ button.
Step 3: A new page will open for Fixed Deposits. Here, you need to click on the ‘Apply Now’ button.
Step 4: A form will open on your screen; here, you need to provide your first and last name, email ID, mobile number, state, city, branch and preferred language.
Step 5: After providing all these details, you need to click on the captcha and finally on ‘Apply Now’.
Step 6: After this, a bank representative will contact you and guide you regarding how to go forward with the application process.

Other than the internet banking facility, you can also use their mobile app to book an FD.

Offline

Here are the steps that you can follow in case you wish to open an FD in Shivalik Bank offline:

Step 1: Visit your nearest branch of Shivalik Small Finance Bank.
Step 2: Ask for the FD application forms from any bank representative.
Step 3: Fill it up and submit it along with the supporting documents and deposit amount
Step 4: After the bank processes your request and the documents you submit, you will receive an FD receipt if all the data you provide is correct.

Documents Required to Book FD at Shivalik Bank

Following is a list of documents that you may need to open an FD account in Shivalik Small Finance Bank:

Filled in account opening form.
PAN card or Form 60/61.
Age proof – birth certificate, school passing/graduation certificate.
4 passport-size photographs.
Proof of Identity – Aadhaar card, PAN card, Voter ID card, driver’s license, passport, etc.
Proof of Address – Aadhaar card, utility bills, driver’s license, passport, etc.
Bank account details – account number, IFSC code, and branch name.

Eligibility to Open Shivalik Small Finance Bank FD

Following is a list of the entities that are eligible to open an FD account in Shivalik Small Finance Bank:

Type of Applicant: Individuals who are either Indian residents or Non-resident Indians, Hindu Undivided Family, Partnership firms, Sole proprietorship, Trusts, etc.
Age of Applicant: Minimum 18 years old. Guardians on behalf of minors.

Types of Shivalik Small Finance Bank FD Schemes

Following are the types of FD schemes that you can opt for from Shivalik Small Finance Bank:

1. Shivalik Small Finance Bank Fixed Deposits

Shivalik Bank offers fixed deposits to customers with a guaranteed return on investment. It comes with competitive benefits like overdraft or loan against FD facility and much more. The best part is you can invest for both short and long terms.

Minimum Deposit: No limit
Maximum Deposit: No limit specified
Tenure: 7 days to 10 years
Interest Rate: 3.75% to 8.50% (including rates applicable for senior citizens)
Eligibility: Indian residents

2. Shivalik Small Finance Bank Tax Saver Fixed Deposit

If you wish to invest in an FD scheme as well as save some taxes, then you can try Shivalik Bank Tax Saver FD. As per section 80C of the Income Tax Act of 1961, you can get a tax deduction of up to ₹1.5 lakhs on the interest income if you invest in this scheme.

Minimum Deposit: ₹1000
Maximum Deposit: ₹1,50,000
Tenure: 5 years
Interest Rate: 7.00% (for general public) and 7.50% (for senior citizens)
Eligibility: Indian residents

3. Shivalik Small Finance Bank Non-Callable Fixed Deposit

Do you want to invest a large sum of money and earn a higher return on top of the regular Shivalik Bank FD rates? If yes, then you must try out investing in this scheme. However, if you invest in this scheme, you do not get the premature withdrawal facility.

Minimum Deposit: ₹25 lakhs
Maximum Deposit: No limit specified
Tenure: 7 days to 10 years
Interest Rate: 3.90% to 8.65% (including rates applicable for senior citizens)
Eligibility: Indian residents

Before you invest in any of the schemes offered by Shivalik Small Finance Bank, it is best to check the terms and conditions of each scheme as well as the applicable Shivalik Bank FD rates.

FAQs

Will I earn any interest if I withdraw the entire FD amount within 7 days of depositing?

No, if you choose the withdraw the entire FD amount within 7 days, then you won’t earn any interest on the deposited amount.

Can HUFs avail senior citizen benefits with Shivalik Bank FDs?

No, HUFs cannot avail of the benefits offered to senior citizens with Shivalik Bank FDs.

What is the penalty applicable for premature withdrawal?

If you prematurely withdraw some amount from your Shivalik Bank FD, a 1% penalty will be charged on the interest you earn.

How is the FD interest calculated in case of a leap year?

The bank computes the interest according to the number of days in a year, which will be 366 days in case of a leap year.

Will I get full interest in case I opt for a monthly interest option?

If you opt for the monthly interest option with your Shivalik Bank FD, you will get a discounted rate over the applicable interest rate.

Bank FD Rates 2024
Citi Bank FD Rates	Sundaram Finance FD Rates	AU Small Finance Bank FD Rates
Post Office FD Rates	Punjab And Sind Bank FD Rates	Kotak Bank FD Interest Rates
Axis FD Interest Rates	Shivalik Small Finance Bank FD Rates	IDFC Bank FD Interest Rates
PNB FD Interest Rates	Mahindra Finance FD Rates	RBL Bank FD Rates
Yes Bank FD Rates	ESAF FD Rates	Federal Bank FD Interest Rates
Sbm Bank FD Rates	Fincare Small Finance Bank FD Rates	Utkarsh Small Finance Bank FD Rates
Ujjivan Bank FD Rates	Shriram Transport FD Interest Rates	Jana Small Finance Bank FD Rates
Bank Of Baroda FD Rates	LIC Housing Finance Fixed Deposit Rates	Central Bank Of India FD Rates
Best Fixed Deposit Interest Rates	Jammu Kashmir Bank FD Rates	DCB Bank FD Interest Rates
SBI FD Interest Rate	North East Small Finance Bank FD Rates	Suryoday Small Finance Bank FD Rates
HDFC FD Interest Rate	City Union Bank Fixed Deposit Rates	KVB Fixed Deposit Interest Rates
ICICI Bank FD Rates	Bharat Bank Fixed Deposit Rates	Karnataka Bank FD Interest Rates
Axis Bank FD Interest Rates	Dhanlaxmi Bank FD Rates	Equitas Bank FD Rates
Post Office FD Interest Rates	Capital Small Finance Bank FD Rates	UCO Bank FD Interest Rates
Canara Bank FD Interest Rates	Bank Of Maharashtra Fixed Deposit Rates	Bank Of India FD Interest Rates
Indusind FD Rates	TMB FD Interest Rate	HSBC FD Interest Rates
PNB FD Interest Rate	Latest Bharat Bank FD Rates	Unity Small Finance Bank FD Rates
Yes Bank FD Interest Rates	PNB Housing Finance FD Rates	DBS Bank FD Rates
Union Bank FD Interest Rates	Dhanalakshmi Bank Fixed Deposit Rates	Standard Chartered FD Rates
Bandhan Bank FD Interest Rate	Canara Bank FD Rates	Iob FD Interest Rates
Bank Of Baroda FD Interest Rates	Paytm FD Interest Rate	Idbi Bank FD Rates
Indian Bank FD Interest Rates	Csb Bank FD Rates	South Indian Bank FD Rates
Bajaj Finance FD Interest Rate