This bank cuts FD interest rates; senior citizens still eligible for 9.05%

This bank cuts FD interest rates; senior citizens still eligible for 9.05%
This bank cuts FD interest rates; senior citizens still eligible for 9.05%

New Delhi: Following Reserve Bank of India’s decision to cut repo rate, Shivalik Small Finance Bank (SFB) reduced its fixed deposit (FD) interest rates. The SFB customers in the general category are eligible to get interest rates of 3.50 per cent to 8.55 per cent, while senior citizens will get interest of 4 per cent to 9.05 per cent on FDs. The revised FD interest rates came into effect from February 18, 2025.

According to the information available on the Shivalik Small Finance Bank website, the lender has reduced its FD interest rates. After the cut announcement, the highest rate for FDs have gone down down to 9.05% from 9.30% on tenures ranging from 12 months and 1 day to less than 18 months for senior citizens. For general citizens, it is now 8.55% for the same tenure.

Fixed Deposits (With Premature-Withdrawal Facility)

TenureInterest rate for general citizensInterest rate for senior citizens
7 days to 14 days3.50%4.00%
15 days to 29 days3.75%4.25%
30 days to 90 days4.25%4.75%
91 days to 180 days4.75%5.25%
6 months to less than 9 months6.00%6.50%
9 months to 12 months6.00%6.50%
12 months 1 day to < 18 months8.55%9.05%
18 months to 24 months8.30%8.80%
24 months 1 day to 36 months7.50%8.00%
36 months 1 day to 60 months6.50%7.00%
60 months 1 day to 120 months6.25%6.75%
Tax saver FD 5 Years (60 months)6.50%7.00%

Non-Callable Fixed Deposits (Without Premature-Withdrawal Facility)

TenureInterest rate for general citizensInterest rate for senior citizens
7 days to 14 days3.55%4.05%
15 days to 29 days3.80%4.30%
30 days to 90 days4.30%4.80%
91 days to 180 days4.80%5.30%
6 months to less than 9 months6.05%6.55%
9 months to 12 months6.05%6.55%
12 months 1 day to < 18 months8.60%9.10%
18 months to 24 months8.35%8.85%
24 months 1 day to 36 months7.55%8.05%
36 months 1 day to 60 months6.55%7.05%
60 months 1 day to 120 months6.30%6.80%

 After the Reserve Bank of India (RBI) repo rate reduction, Shivalik Small Finance Bank has reduced fixed deposit interest rates by 25 bps. However, senior citizens can still get 9.05 per cent on FD for 12 months 1 day to < 18 months tenure.  Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today