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| Tenure | For General Citizen (p.a) | For Senior Citizen (p.a) |
|---|---|---|
| 7 days to 14 days | 3.5 % | 4 % |
| 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 % | 6.5 % |
| 9 months to less than 12 months | 6 % | 6.5 % |
 12 months to 18 months | 7.8 % | 8.3 % |
| 18 months 1 day to 24 months | 7.8 % | 8.3 % |
| 24 months 1 day to 36 months | 7.5 % | 8 % |
| 36 months 1 day to 60 months | 6.5 % | 7 % |
| 60 months 1 day to 120 months | 6.25 % | 6.75 % |
| Tax saver FD 5 Years (60 months) | 6.5 % | 7 % |
Fixed Deposit
Tax Saver Fixed Deposit Scheme
If you invest in this FD, you are eligible for a tax deduction of up to ₹1.5 lakhs under Section 80C of the Income Tax Act of 1961.
Non-Callable Fixed Deposits
Here is a list of the entities that are eligible to open an FD account with a financial institution in India:
A list of general documents required to open an FD account in India is given below:
For Hindu Undivided Family (HUF)
For Public/Private Limited Companies
For Partnership Firms
For Registered Societies
Check the steps below to open an FD account online:
Step 1: Visit the bank's official website, navigate to its 'fixed deposit' section and click on 'net banking login'. Then, sign in with your credentials. If you are opening a new FD account with a new bank, create an online account first.
Step 2: You will be redirected to a page where you must fill up all the required details, such as FD tenure, nominee account and digital signature.
Step 3: Make sure the details you have inserted are correct. Upload them or the soft copies of the documents required.
Step 4: Pay the amount you wish to deposit in an FD account with the help of the net banking facility.
Step 5: You will receive an acknowledgement receipt. Save it carefully for future reference.
According to the Income Tax Act of India of 1961, taxpayers can seek deductions under Section 80C if they invest in FDs.
In a given financial year, a taxpayer can avail tax deduction to a maximum of ₹1.5 lakhs from their gross taxable income, provided the following conditions are fulfilled:
When filing the Income Tax Returns (ITR), the taxpayer can provide supporting documents to avail tax benefits on FDs.
Tax Deducted at Source (TDS)
The right time to invest in a fixed deposit depends on the investor's financial goals, risk appetite, and prevailing interest rates. Generally, it is advisable to invest in fixed deposits when the interest rates are high and are expected to remain stable for the investment period.
FDs provide a guaranteed return on investment and are relatively low-risk compared to other investment instruments.
Yes. ₹5 lakhs DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance cover is applicable on Shivalik Small Finance Bank FD.
The minimum investment period for fixed deposit schemes at Shivalik Small Finance Bank is 7 days.
Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.
