The Reserve Bank of India on February 7, 2025, cut the repo rate—from 6.50% to 6.25%

After RBI rate reduction, this bank cuts fixed deposit interest rates by 25 bps but seniors can still get 9.05%; check details Shivalik Small Finance Bank (SFB) has reduced its interest rates on fixed deposits (FD), after the Reserve Bank of India (RBI)s repo rate cut

Shivalik Small Finance Bank (SFB) has reduced its interest rates on fixed deposits (FD), after the Reserve Bank of India (RBI)’s repo rate cut on February 7. According to its website, Shivalik Small Finance Bank now offers an interest rate ranging from 3.50% to 8.55% on FDs for general citizens, and from 4% to 9.05% on FDs for senior citizens.

Trump-Modi Meet

The mega MIGA, MAGA plans of India's Modi and US' Trump
Trump says India has more tariffs than others
Trump's 'golden rule' for imposing reciprocal tariffs
Earlier, the banks used to offer an interest rate of up to 8.8% on FDs for general citizens, and up to 9.3% on FDs for senior citizens.

Also read: To avoid new TDS on interest above Rs 1 lakh how much should senior citizens invest in bank FD

The revised FD interest rates will take effect from February 18, 2025.

For which tenure has Shivalik Small Finance Bank reduced its FD interest rates?

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 rate for FDs 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, the bank has reduced the highest rate for FDs from 8.80% to 8.55% in the same tenure.

Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling Tomorrows Innovations
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Generative AI for Dynamic Java Web Applications with ChatGPT
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Performance Marketing for eCommerce Brands
By - Zafer Mukeri, Founder- Inara Marketers
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
A2Z Of Money
By - elearnmarkets, Financial Education by StockEdge
Artificial Intelligence(AI)
Master in Python Language Quickly Using the ChatGPT Open AI
By - Metla Sudha Sekhar, IT Specialist and Developer
Office Productivity
Zero to Hero in Microsoft Excel: Complete Excel guide 2024
By - Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
AI and Analytics based Business Strategy
By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI
Artificial Intelligence(AI)
AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills
By - Metla Sudha Sekhar, IT Specialist and Developer
Web Development
Advanced C++ Mastery: OOPs and Template Techniques
By - Metla Sudha Sekhar, IT Specialist and Developer
Astrology
Vastu Shastra Course
By - Sachenkumar Rai, Vastu Shashtri
Finance
Crypto & NFT Mastery: From Basics to Advanced
By - CA Raj K Agrawal, Chartered Accountant
Data Science
SQL for Data Science along with Data Analytics and Data Visualization
By - Metla Sudha Sekhar, IT Specialist and Developer
Legal
Complete Guide to AI Governance and Compliance
By - Prince Patni, Software Developer (BI, Data Science)
Web Development
A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024
By - Metla Sudha Sekhar, IT Specialist and Developer
Technology
Certified Jenkins Professional
By - Vskills, India's Leading Certification Body
Office Productivity
Mastering Microsoft Office: Word, Excel, PowerPoint, and 365
By - Metla Sudha Sekhar, IT Specialist and Developer
Marketing
Digital marketing - Wordpress Website Development
By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert
Web Development
Mastering Full Stack Development: From Frontend to Backend Excellence
By - Metla Sudha Sekhar, IT Specialist and Developer
Finance
Financial Literacy i.e Lets Crack the Billionaire Code
By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator
Leadership
Business Storytelling Masterclass
By - Ameen Haque, Founder of Storywallahs
Marketing
Future of Marketing & Branding Masterclass
By - Dr. David Aaker, Professor Emeritus at the Haas School of Business, UC Berkeley, Author | Speaker | Thought Leader | Branding Consultant

Also read: Get free govt insurance for your bank FDs up to Rs 65 lakh; here's how

Latest Shivalik SFB FD interest rates

Shivalik Small Finance Bank offers an interest rate of 3.75% on FDs with a tenure ranging from 15 to 29 days. The small finance bank provides an interest of 4.25% for FDs with a tenure of 30 to 90 days, and 4.75% for a tenure ranging 91 to 180 days.

	General	Senior Citizen
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%

Source: Bank website

Premature withdrawal
Premature payment will attract a 1% penalty on the interest earned during the period for which the deposit has been kept with the bank and not at the contracted rate, according to the data from Shivalik Small Finance Bank’s website.

This story originally appeared on: India Times - Author:Faqs of Insurances