Recurring Flexi Deposits

What are the benefits of Recurring Flexi deposits offered by the Bank?

A. Shivalik Bank’s Recurring Flexi Deposits (RFD) provide flexibility to invest an amount every month in a systematic manner and get a corpus of funds as per the need. Shivalik Bank offers competitive rates on its Recurring Flexi Deposits with interest compounded at quarterly intervals to maximize returns.

What is the minimum and maximum tenure of Recurring Flexi Deposit?

A. Shivalik Bank offers a flexible tenure for Recurring Flexi Deposits that ranges from 6 months to 120 months.

What is the minimum initial deposit & maximum amount limit to book Recurring Flexi Deposit?

A. The minimum initial booking amount is ₹ 100, and the maximum booking amount is ₹ 1 Lakh.

What is the Top-up feature in Recurring Flexi deposit account?

A. The Top-up feature is available in the same Recurring Flexi deposit account, wherein you can enhance your contribution through interim transfers in the same deposit for a minimum of ₹ 100 and a maximum of up to 25 times the initial deposit amount.

Where can I view the Recurring Flexi Deposits rates?

A. The deposit rates can be viewed on the Bank’s website and are also displayed in our branches. To check the rates now, click here.

Does the Bank offer additional rates to senior citizens on deposits?

A. Yes, senior citizens aged 60 years and above can avail an additional rate of 0.50% over the regular rates on the Recurring Flexi Deposit.

Is premature withdrawal facility available on Recurring Flexi Deposit booked with Shivalik Bank?

A. Yes, the premature withdrawal facility is available for Recurring Flexi Deposits booked with Shivalik Bank.

What is the interest rate payable if the Recurring Flexi Deposit is withdrawn prior to maturity?

A. The interest rate payable shall be as per the tenure for which the deposit is held with the Bank and not at the contracted rate, less 1% as a premature penalty.

Is partial withdrawal of Recurring Flexi Deposit allowed?

A. No, partial withdrawal of Recurring Flexi Deposit is not allowed.