This SFB alters savings accounts as well as FD rates and now offers up to 7%

Shivalik Small Finance Bank (SFB) has revised interest rates on both savings accounts and fixed deposits. The new rates are effective as of July 27, 2022, according to the bank’s official website. Following the modification, the bank is now providing savings accounts and fixed deposits of less than 2 Cr to the general public at a maximum interest rate of 7%.

Shivalik Small Finance Bank Savings Account Rates

The bank will now give an interest rate of 3.50 per cent on savings account balances between Rs. 1 lac and Rs. 10 lacs, and an interest rate of 4.00 per cent on balances between Rs. 10 lacs and 50 lacs. Shivalik Small Finance Bank will now give an interest rate of 4.50 per cent on savings account balances between 50 lac and 1 crore, while the bank will guarantee an interest rate of 5.00 per cent on deposits between 1 crore and 2 crores. The bank is now promising savings account holders a maximum interest rate of 7.00% on a savings account balance of above 2 Crore to 7 Cr and above.

View Full Image

Shivalik Small Finance Bank Savings Account Rates (shivalikbank.com)

Shivalik Small Finance Bank FD Rates

The bank will now give an interest rate of 3.75 per cent on fixed deposits under 2 Cr that mature in 7 to 14 days, and an interest rate of 4.00 per cent on term deposits that mature in 15 to 29 days. Fixed deposits with maturities between 30 and 90 days now have interest rates of 4.50 per cent, while term deposits with maturities between 91 and 179 days now have a 5.00 per cent interest rate.

Shivalik Small Finance Bank will now provide an interest rate of 6.50 per cent on fixed deposits maturing in 365 days or more and an interest rate of 5.75 per cent on term deposits maturing in 180 days to 364 days. The bank will now provide a maximum interest rate of 7 per cent for fixed deposits maturing in 730 days to 998 days, and 5.75 per cent for term deposits maturing in 999 days and above. The bank will now give an interest rate of 6.25 per cent to the general public and 6.75 per cent to senior citizens on tax saver fixed deposits of five years.

Shivalik Small Finance Bank FD Rates

View Full Image

Shivalik Small Finance Bank FD Rates (shivalikbank.com)

Shivalik Small Finance Bank also allows Recurring/Flexi Recurring Deposit that comes with a tenure ranging from 6 months to 10 years and the applicable interest rate ranges from 5.50% – 5.50% for the general public and 6.00% – 6.00% for senior citizens. On RDs of 2 years to less than 3 years, the bank now offers a maximum interest rate of 7.00% to the general public and 7.50% for senior citizens.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More