FD Hike: If you want to get strong returns by investing in FD in a safe way, then this news is for you only. Actually, Shivalik Small Finance Bank is now giving maximum 8.00% interest on FD to common people and 8.50% to senior citizens.
New Delhi. During the last 9 months, the Reserve Bank of India (RBI) has increased the repo rate at frequent intervals to control inflation. After this increase, many government and private banks have increased the fixed deposit (FD) rates. In this episode, Shivalik Small Finance Bank has increased its savings and FD rates.
Shivalik Small Finance Bank has increased its interest rates on FDs of less than Rs 2 crore. The bank is now giving maximum interest of 8.00 per cent to common people and 8.50 per cent to senior citizens on FD.
Shivalik Small Finance Bank FD Rates
Shivalik SFB is now offering 3.75% interest on FDs maturing in 7 to 14 days. Shivalik Bank is paying 4.00% interest on FDs maturing in 15 to 29 days. The bank is paying 4.50 per cent interest on FDs of 30 days to 90 days. The bank is offering 5.00 per cent interest for FDs of 91 days to 180 days. 5.75% interest will be given on FDs maturing in less than 6 months to 12 months. 7.50% return will be given on FDs maturing in less than 12 months to 18 months. The bank is giving a maximum return of 8.00% on FDs maturing in 18 months to 36 months.
Is it safe to keep money in Small Finance Bank?
Now the question arises whether it is safe to keep money in Small Finance Bank? Explain that in case of bank sinking or bankruptcy, the only relief the depositor has is the insurance cover provided by the Deposit Insurance and Credit Guarantee Corporation ie DICGC. Now the insurance cover under DICGC has been increased from Rs 1 lakh to Rs 5 lakh. The insurance cover offered by DICGC works on deposits like savings accounts, FDs, current accounts, RDs etc. DICGC’s Deposit Insurance covers all insured commercial banks including LABs, PBs, SFBs, RRBs and Cooperative Banks.
If your money is deposited in a bank, you can check whether it is registered for Deposit Insurance or not by clicking on the link given below…
Here is the link- https://www.dicgc.org.in/FD_ListOfInsuredBanks.html
