Term Deposits

What are the benefits of Fixed Deposits offered by Shivalik Small Finance Bank?

A. Shivalik Bank offers competitive rates on its Fixed Deposits to maximize returns. There is flexibility in choosing the tenure, from short-term options to long-term investments, plus multiple options for interest payments (Monthly, Quarterly, Cumulative) are available.

What is the minimum and maximum tenure of Fixed Deposit?

A. Shivalik Bank offers a flexible tenure for Fixed Deposits that ranges from 7 days to 10 years.

Where can I view the Fixed 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 Shivalik Bank Offer Tax Saver Fixed Deposits?

A. Yes, Shivalik Bank offers Tax Saver Fixed Deposits, which come with a lock-in period of 5 years. The maximum amount allowed for Tax Saver Fixed Deposits is Rs. 1,50,000 per annum, with a minimum tenure of five years.

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 Fixed Deposits.

Is premature withdrawal facility available on Fixed Deposits booked with Shivalik Bank?

A. Yes, the premature withdrawal facility is available for Fixed Deposits booked with Shivalik Bank, except for Tax Saver Fixed Deposits and deposits booked with a non-premature withdrawal facility.

What is the interest rate payable if a Fixed Deposit is withdrawn prior to maturity?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.

What is the interest rate applicable for premature closure within 7 days from the date of booking a Fixed Deposit?

A. No interest shall be payable if the depositor withdraws the Fixed Deposit amount within 7 days from the date of deposit.

Is partial withdrawal of Fixed Deposit allowed?

A. Yes, partial withdrawal of Fixed Deposit is allowed, subject to applicable premature penalties on the withdrawal amount.