w.e.f. January 20th, 2023
Savings Account
| SAVING BANK ACCOUNTS | RATE OF INTEREST (% p.a.) | |
|---|---|---|
| GENERAL | ||
| Balance upto 1 Lac | 3.50% | |
| Above 1 Lac to 5 Lacs | 3.50% | |
| Above 5 Lacs to 10 Lacs | 3.50% | |
| Above 10 Lacs to 25 Lacs | 4.00% | |
| Above 25 Lacs to 50 Lacs | 4.00% | |
| Above 50 Lacs to 1 Crore | 4.50% | |
| Above 1 Crore to 2 Crore | 6.00% | |
Note:
- For rates on amount above Rs. 2 Crore, please contact the nearest Shivalik Small Finance Bank branch.
- Savings Bank Account interest is calculated daily on the daily closing balance in the Account, at the rate specified by Shivalik Small Finance Bank in accordance with Reserve Bank of India directives. The interest amount calculated is rounded off to the nearest rupee.
- Interest is paid at every calendar quarter on 30th June, 30th September, 31st December and 31st March.
Fixed Deposits (With Premature-Withdrawal Facility)
| Period | RATE OF INTEREST (% p.a.) | |
|---|---|---|
| Amount less than Rs.2 Crores | ||
| GENERAL | SENIOR CITIZEN | |
| 7 days to 14 days | 3.75% | 4.25% |
| 15 days to 29 days | 4.00% | 4.50% |
| 30 days to 90 days | 4.50% | 5.00% |
| 91 days to 180 days | 5.00% | 5.50% |
| 6 months to less than 9 months | 5.75% | 6.25% |
| 9 months to less than 12 months | 5.75% | 6.25% |
| 12 months to less than 18 months | 7.50% | 8.00% |
| 18 Months to Less than 24 months | 8.00% | 8.50% |
| 24 months to 36 months | 8.00% | 8.50% |
| 36 months 1 day to 60 months | 7.00% | 7.50% |
| 60 months 1 day to 120 months | 6.75% | 7.25% |
| Tax saver FD 5 Years (60 months) | 7.00% | 7.50% |
Non-Callable Fixed Deposits (Without Premature-Withdrawal Facility)
| Period | RATE OF INTEREST (% p.a.) | |||
|---|---|---|---|---|
| From Rs.25 Lakhs to less than Rs.2 Crores | ||||
| GENERAL | SENIOR CITIZEN | |||
| 7 days to 14 days | 3.90% | 4.40% | ||
| 15 days to 29 days | 4.15% | 4.65% | ||
| 30 days to 90 days | 4.65% | 5.15% | ||
| 91 days to 180 days | 5.15% | 5.65% | ||
| 6 months to less than 9 months | 5.90% | 6.40% | ||
| 9 months to less than 12 months | 5.90% | 6.40% | ||
| 12 months to less than 18 months | 7.65% | 8.15% | ||
| 18 Months to Less than 24 months | 8.15% | 8.65% | ||
| 24 months to 36 months | 8.15% | 8.65% | ||
| 36 months 1 day to 60 months | 7.15% | 7.65% | ||
| 60 months 1 day to 120 months | 6.90% | 7.40% | ||
Recurring/Flexi Recurring Deposit
| Period | RATE OF INTEREST (% p.a.) | |
|---|---|---|
| GENERAL | SENIOR CITIZEN | |
| 6 months to 8 months | 5.75% | 6.25% |
| 9 months to 11 months | 5.75% | 6.25% |
| 12 months to 17 months | 7.50% | 8.00% |
| 18 months to 23 months | 8.00% | 8.50% |
| 24 months to 36 months | 8.00% | 8.50% |
| 37 months to 60 months | 7.00% | 7.50% |
| 61 months to 120 months | 6.75% | 7.25% |
Note:
- 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.
- The Fixed Deposit rate applicable for a monthly interest option will be discounted rate over the applicable rate.
- The maximum aggregate amount that can be invested in the Tax Savings Fixed Deposit (80C FD) under a single PAN is Rs. 150,000 and the same cannot be closed prematurely before expiry of the lock-in period of 5 years
- 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 FD Interest Rate would be payable if the depositor withdraws the entire FD amount within 7 days from the date of deposits.
- For Fixed Deposits with Period up to 180 days, interest will be calculated at maturity as simple interest.
- In Recurring Flexi, customer can deposit maximum up to 25 times of initial deposit amount.
- The incentive for Senior Citizens will be an additional spread of 0.5% over the above card rates
- For Senior citizen age of first applicant should be 60 years or above. (HUF cannot avail Senior citizen benefits)
- 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 or card rate of original deposit, whichever is less.
- For interest rates of bulk deposits (Rs. 2 Crore and above) with/without premature closure facility, please contact the nearest Shivalik Small Finance Bank branch.
Specific Terms and conditions for Non-Callable Fixed deposits:
- The Fixed Deposit does not have premature withdrawal facility i.e., the Fixed Deposit cannot be closed by the depositor before expiry of the term of such deposit. However, the Bank may allow premature withdrawal of these deposits in following exceptional circumstances: in the event of any direction from any statutory and/or regulatory authority or deceased claim settlement cases.
- Auto renewal facility is not available for such Fixed Deposits at time of opening of the Fixed Deposit account.
- Interest rates and minimum deposit value are subject to change without prior notice.
External Benchmark Lending Rate (EBLR) (w.e.f. March 02nd, 2023)
6.50% + Spread
Note:
- The external benchmark used in the EBLR is the RBI Repo Rate which may be subject to change by the Reserve Bank of India.
- All applicable loans disbursed post 26 April 2021 are under the EBLR framework.
- EBLR would be subject to change by the bank based on changes to the external benchmark and the spread from time to time.
Minimum Lending Rate (MLR) (w.e.f. March 02nd, 2023)
10.45%
Annual Percentage Rate
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and processing fee.
To calculate the same, please click here to download the APR calculator.
| Product Type | Minimum | Maximum | Average |
|---|---|---|---|
| Agriculture Loan | 11.25% | 12.00% | 11.97% |
| Gold Loan | 9.00% | 21.96% | 14.07% |
| Housing Loan | 8.25% | 9.35% | 8.79% |
| Microfinance | 24.00% | 26.00% | 25.00% |
| Other Loan | 9.35% | 21.00% | 11.45% |
| Retail Trade Loan | 10.50% | 14.65% | 12.22% |
| Vehicle Loan | 8.50% | 13.00% | 10.78% |
Service Charges and Fee
- Savings Accounts (w.e.f. November 07, 2022)
- Current Account (w.e.f. November 07, 2022)
- Cash Credit & Overdraft Account (w.e.f.November 07, 2022)
- Loans and Advances (w.e.f April 01, 2020)
Service Charges and Fee effective from April 01, 2023
- Current Account (w.e.f. April 01, 2023)
- Savings Accounts (w.e.f. April 01, 2023)
- Salary Accounts (w.e.f. April 01, 2023)
- MF Member Accounts/Basic Accounts (w.e.f. April 01, 2023)
- Scholarship Accounts/Student Accounts (w.e.f April 01, 2023)
