Now this bank cuts FD interest rates by 25 bps

Private sector lender Shivalik Small Finance Bank has joined the list of banks that have reduced interest rates on fixed deposits (FDs) in recent times. According to the bank's website, it revised interest rates on fixed deposits (FD) for amounts less than Rs 3 crore. The revised FD interest rates are effective from April 9, 2025, according to the bank's website. Recently, YES Bank and Equitas Small Finance Bank have reduced their interest rates on FDs.

Shivalik Small Finance Bank has reduced its interest rates on FDs by up to 25 basis points (bps) on balances below Rs 3 crore. According to data available on the bank's website, Shivalik Small Finance Bank now offers an interest rate ranging from 3.50% to 8.30% per annum on FDs for general citizens and from 4% to 8.80% per annum for senior citizens.
Earlier, Shivalik Small Finance Bank used to offer FD interest rates ranging from 3.5% to 8.30% for the general citizens and from 4% to 9.05% for senior citizens on FD amounts below Rs 3 crore, with tenures spanning from 7 days to 1years.

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Which tenure has Shivalik Small Finance Bank reduced its FD interest rates for?
According to the information available on the bank's website, Shivalik Small Finance Bank has decreased its FD interest rates by 25 basis points, bringing the highest interest rate for FDs down to 8.80% from 9.05% on tenures ranging from 12 months and 1 day to less than 18 months for senior citizens. For general citizens, the bank has reduced the highest rate for FDs from 8.55% to 8.30% in the same tenure.

After YES Bank, this bank cuts FD interest rate; check details

Latest Shivalik Small Finance bank FD rates:



Premature withdrawal
For premature withdrawal, the bank will charge a penalty of 1% on the interest earned during the period the deposit was held, rather than applying the contracted rate, according to data from Shivalik Small Finance Bank's website.