SVC Bank Fixed Deposit
Last Updated : March 27, 2017, 6:26 p.m.
About SVC Bank Fixed Deposit
Shamrao Vithal Co-operative Bank Limited (SVC), founded in 1906, runs its business via 195 branches across the country. The bank deals in personal banking, NRI banking, corporate banking and various other services to suit the taste of customers. As far as fixed deposits are concerned, the bank offers depositors a wide range of options with attractive interest rates of 5.50%-8% per annum over a period of 15 days-10 years. So, let’s come down and view SVC Bank fixed deposit interest rates.
SVC Bank Fixed Deposit Rates
Interest Rates on Deposits of Upto ₹ 15 Lacs
| Period of Deposit | General Public | Senior Citizens |
|---|---|---|
| 15-Below 90 Days | 4.75 % | 4.75 % |
| 91-Below 180 Days | 5.00 % | 5.15% |
| 181-364 Days | 6.00% | 6.15% |
| 365 Days-Below 2 Years | 7.00 % | 7.15% |
| AV Deposit Scheme - 366 Days (Simple Interest) | 7.25% | 7.40% |
| Mangal Moorti Scheme- 24 months (Simple Interest) | 7.25% | 7.40% |
| Above 24 months to 60 months | 7.00% | 7.15% |
| Above 60 months to 120 months | 6.75% | 6.90% |
| Tax exemption Scheme (5 Years) | 7.25% | 7.25% |
SVC Bank Fixed Deposit Schemes
At SVC, you can choose from a number of fixed deposit schemes to secure your future. The schemes include-
SHORT-TERM FIXED DEPOSITS
Minimum deposit amount-₹ 1,000
Minimum deposit period-15 Days
Maximum deposit period-364 Days
Interest payable-at maturity only
Loan available upto 90% of the deposit amount
LONG-TERM FIXED DEPOSITS
Minimum deposit amount-₹ 1,000
Minimum deposit period-1 Year
Maximum deposit period-5 Years
Interest payable- quarterly, half-yearly, annually
You can avail loan upto 90% of the deposit amount
CASH CERTIFICATE
Minimum deposit amount-₹5,000
Minimum deposit period-1 Year
Interest gets automatically ploughed back to the deposit on quarterly intervals\
Avail loan upto 90% of the deposit amount
SVC – TAX EXEMPT
Lock-in period-5 Years
Maximum deposit amount-upto ₹ 1,50,000 in a financial year
Qualifies for tax exemption under section 80C of the Income Tax Act.
FLEXI FIXED
Minimum deposit amount-₹10,000
Minimum deposit period-1 Year
Maximum deposit period-5 Years
Loan facility available upto 90% of the deposit amount
AROGYA VISHESH SCHEME
Comes with savings account clubbed with sweep out fixed deposits
Enables hassle-free hospitalization
Flexible payment options at network hospitals of the bank
You require to open a savings bank account with a balance of Rs 10,000
Set aside the amount for emergency
You will get an AV Flash Card
Show the card at the network hospital, in case of emergency, and get the admission in hospital without paying the cost
Hospital will get the payment from SVC Bank
The card can be used for you, your family and friends
Interest earned on sweep out fixed deposits to get credited on savings account at the time of maturity with auto renewal option
Fixed deposit ranges from₹50,000 to any amount
Avail the benefit of no penalty on premature withdrawal in case of emergency
SVC Bank Fixed Deposit Application Form
You can access fixed deposit application form online. This will require you to download the form from the website. Further, you must take a printout of the form, fill in the details and submit it along with ID & address proofs and cheque to the bank officials to process your application. Alternatively, you can visit the bank branch and do the stuffs stated above.