Shivalik Small Finance Bank cuts FD interest rates to 9.05% from 9.30%

Lender cuts rates by 25 bps, lowering the highest rate to 9.05% from 9.30% for senior citizens on tenures ranging from 12 months and 1 day to less than 18 months

Shivalik Small Finance Bank (SFB) has reduced its fixed deposit (FD) interest rates after the Reserve Bank of India (RBI)’s cut the repo rate on February 7. SFB’s interest rates now range from 3.50 per cent to 8.55 per cent for general citizens and from 4 per cent to 9.05 per cent for senior citizens on FDs. The revised FD interest rates are effective February 18, according to the lender’s website.

 

SFB has decreased rates for loans of the following tenures:

 

The bank has cut its FD interest rates by 25 basis points, lowering the highest rate for senior citizens from 9.30 per cent to 9.05 per cent on tenures ranging from 12 months and 1 day to less than 18 months. For general citizens, the maximum FD interest rate has been reduced from 8.80 per cent to 8.55 per cent for the same tenure. Previously, the bank offered a maximum interest rate of 8.8 per cent on FDs for general citizens and up to 9.3 per cent for senior citizens.

 

Latest Shivalik Small Finance Bank FD interest rates

 

Fixed Deposits (With Premature-Withdrawal Facility)w.e.f. Feb 18th, 2025
Period	General	Senior citizens
7 days to 14 days	3.50%	4.00%
15 days to 29 days	3.75%	4.25%
30 days to 90 days	4.25%	4.75%
91 days to 180 days	4.75%	5.25%
6 months to less than 9 months	6.00%	6.50%
9 months to 12 months	6.00%	6.50%
12 months 1 day to < 18 months	8.55%	9.05%
18 months to 24 months	8.30%	8.80%
24 months 1 day to 36 months	7.50%	8.00%
36 months 1 day to 60 months	6.50%	7.00%
60 months 1 day to 120 months	6.25%	6.75%
Tax saver FD 5 Years (60 months)	6.50%	7.00%

 

If a depositor prematurely withdraws their funds, a 1 per cent penalty will be levied on the interest earned for the period the deposit remained with the bank, rather than the contracted rate

 

If you opened a FD before the repo rate cut, your interest rate will remain unchanged, regardless of any subsequent reductions by the bank. FD interest rates are fixed for the entire deposit tenure, meaning the rate offered at the time of booking will stay the same throughout.