Shivalik Bank Tax Saver Fixed Deposit 

Many people use tax-saver fixed deposits to grow their savings while leveraging tax advantages smartly. If you are likewise looking to reduce your tax burden and earn guaranteed high returns, then you may consider investing through a Shivalik Bank tax saver fixed deposit account.

A Shivalik tax-saving FD can help save up to ₹1.5 lakh in taxes annually with attractive interest rates and a 5-year lock-in. Additionally, you get the opportunity to further multiply your investments by opting for the re-investment option. 

To earn up to 9.30% interest p.a. via Shivalik Small Finance Bank FD accounts, download the Stable Money app today!

Get Up to 7% Shivalik Bank Tax Saver Fixed Deposit Rates 

With Shivalik Small Finance Bank Tax Saver FD, individuals can earn highly competitive interest rates along with tax benefits. The interest offerings can go up to 7% for senior citizens. Additionally, anyone opting for this account type can enjoy up to ₹1.5 lakh of income tax deduction in a single financial year. 

The following are some key features of Shivalik Bank tax saver fixed deposit accounts:

• These accounts come with a 5-year lock-in period. 
• FD holders aged above 60 get an additional interest of 0.50% compared to the general public. 
• People can open their tax-saving fixed deposit account with Shivalik Small Finance Bank with a minimum amount of ₹1,000.

The primary aim of this type of account is to foster a person's financial growth, ensuring that a tax-saver FD is more than just a tax management tool. Thus, you can readily invest in a Shivalik Bank fixed deposit through Stable Money to secure a prosperous future. 

Things to Remember Before Investing in Tax-Saving Fixed Deposits

When calculating your taxable income, you must include interest earned from all fixed deposit accounts, in addition to your active income sources. According to Section 80C of the Income Tax Act, of 1961, you are eligible for up to ₹1,50,000 income tax exemption if you invest that amount in a tax saver fixed deposit. 

You can easily avail the above-mentioned tax benefit by choosing a tax saver FD from Shivalik SF Bank. However, before opening an account, take a note of the following pointers:

• Unless directed otherwise, your tax saver FD can be automatically renewed for the same tenure and interest rate after it reaches maturity.
• The bank won’t let you borrow a loan putting a tax-saver FD as collateral.
• Any early withdrawal charges are not specified as the premature withdrawal of funds is not permissible for this account type. 
• Finally, you can invest only up to ₹1.5 lakh in a single fiscal year in a Shivalik Bank tax saver FD. 

Eligibility Criteria to Open a Shivalik Bank Tax Saver Fixed Deposit

Interested parties must fulfil the criteria mentioned below to start earning Shivalik Bank FD rates from a tax-saver fixed deposit:

• They can be an Indian resident
• A Karta of any Hindu Undivided Family (HUF) can also open a tax-saving FD on behalf of their family
• Minors can open tax-efficient FDs through one of their guardians

Besides the above conditions, if you are already an existing customer of Shivalik SF Bank, then it would be easier for you to open a tax-saving fixed deposit. So, you may explore the various Shivalik FD rates offered via the Stable Money platform before opening a regular high-income fixed deposit on our platform. 

Documents Required to Open a Shivalik Bank Tax Saver Fixed Deposit

No documents need to be submitted before opening a tax-saving FD if you already maintain an account with Shivalik SF Bank. However, all the new customers have to submit the following documents:

• For Signature and Identity Proof
• PAN Card
• Passport
• Driving Licence
• Voter’s Card
• Aadhaar Card
• For Address Proof
• Utility Bill
• Existing Bank Account’s Passbook (should not be more than 3 months old)
• PAN Card

How to Open a Shivalik Bank Tax Saver Fixed Deposit?

You can open a tax-saver fixed deposit with Shivalik SF Bank by following these steps:

Step 1: Install the Stable Money app and log in by entering a few basic details. 

Step 2: Once you are on the homepage, click on ‘Discover’. 

Step 3: Select the option ‘Best Tax Saver FDs’ and then click on 'Shivalik SF Bank’'. 

Step 4: Specify whether you are applying as a general or senior citizen and set the interest rate accordingly. 

Step 5: Choose 'Shivalik SF Bank’ again.

Step 6: Click on ‘Continue’ and provide a few basic personal and contact details.

Step 7: Complete the application procedure by clicking on ‘Apply Now’. 

As Shivalik Small Finance Bank is a scheduled RBI-licensed bank, you can readily rely on their FD schemes. Up to ₹5 lakh of your investment is insured under all circumstances as all Shivalik customers receive deposit insurance through the Depositor Insurance and Credit Guarantee Corporation (DICGC).

Why Choose Stable Money to Book Shivalik Bank Tax Saver Fixed Deposit? 

Saving ₹1.5 lakh annually is now simple with a Shivalik Bank tax saver fixed deposit with Stable Money. There are no such strict eligibility criteria to open this type of account and one can invest a minimum of ₹1,000 to start enjoying the tax-saving benefits. 

However, if you want even higher rates of return, then you may consider booking a regular Shivalik Small Finance Bank FD via Stable Money. It will give you up to 8.80% annual interest for a period of 1 year 5 months and 25 days. Senior citizens will get an additional 0.50% on their deposits. So, instead of delaying further, go explore our app's offerings today!