SVC Bank FD Rates 2024

In recent years, the investment market has shown booming growth, with not just higher investor engagement but also incredible offers. There are multiple ways one can double their savings, either by taking a risk or playing it safe! A Fixed Deposit is a saviour for those who don’t want the headache of calculating a fluctuating return on investment. Hence, such players may take advantage of the services offered by financial institutions like the SVC Bank.

Let us know the latest offerings to see if you can safeguard your finances in 2024!

What is SVC Bank Fixed Deposit?

Established in 1906, the Shamrao Vithal Corporate Bank, also known as SVC, is a well-known financial institution in India. The SVC Bank FD rates offered to customers are valid for 15 days to 10 years of tenure per account holder. According to the plan chosen, the SVC bank has a interest rate of 5.00% to 7.25% per year.

The blog discusses everything a new account holder may look for in SVC Bank FD rates in 2024.

SVC Bank Fixed Deposit Rates

There are different interest rates offered to segregated depositors. SVC FD rates for senior citizens facilitate older depositors at a higher fixed deposit return rate than regular depositors. The NRE and FCNR also vary in their return rates.

SVC Bank Domestic FD Interest Rates – BELOW Rs.2 Crores

Here is the latest table disclosing SVC Bank FD interest rates for 2024. It includes the regular and SVC Bank FD rates for senior citizens:-

SVC Bank FD Rates ABOVE Rs. 2 Crores

Check out the SVC Bank interest rates that go above Rs. 2 crores for regular SVC FD rates per annum and senior citizen SVC FD rates:-

Note: Penalty of 1% will be charged on the applicable rate for the period run in case of pre-mature closure of any term deposit with or without re-investment.

SVC Bank NRI FD Rates in 2024

Shamrao Vithal Corporate Bank offers fixed deposits for Non-Residential Indians with some different benefits and FD rates that are mentioned below:-

SVC Bank FD Rates NRE Below Rs. 2 Crores

Here are the revised SVC Bank FD Rates for NRE that fall below Rs. 2 crores for 2024:-

SVC Bank FD Rates for Foreign Currency Non-Residents (FCNR)

This is only  valid  for non-residents to know the benefit from  SVC Bank FD interest rates in 2024:-

SVC Bank FD Rates for Senior Citizens in 2024

SVC FD rates are higher for senior citizens than for any other  account holders. Currently, SVC bank interest rates for senior citizens are 5.50% to 7.25%, which is higher than all the other maturity plans. Here is the complete list of SVC FD rates for senior citizens for the current year. 

Features and Benefits of SVC Bank

One can avail impressive benefits whilst owning a SVC Fixed Deposit which is beyond the basic financial security one may expect.  

• One may avail a RuPay Platinum Debit Card with no charges applied.
• Unlocks the brilliant offers and discounts on big brands.
• Increase limits on withdrawal/eCommerce/POS financial payments.
• Online NEFT/RTGS transactions cost-free.
• Debit Card that offers the below multiple perks:
  • Complimentary RuPay Platinum Debit Card with a waiver of Annual Maintenance Charges
  • Debit Card cash withdrawal/Ecom/POS limit – INR 25,000/- per day
  • Free transactions on SVC Bank ATMs
  • 5 free transactions on other Bank ATMs
  • Airport Lounge Access: 2 free International (per annum) and 2 free domestic (per quarter) airport lounge access*
  • 24/7 access to Concierge Services*
  • Complimentary Personal Accidental Death Cover of INR 2 Lakhs from RuPay Platinum Debit Card*

Eligibility Criteria and Documents Required for SVC Bank

SVC Bank’s Fixed Deposit rates is undoubtedly the best investment option one may opt for. But there are some eligibility conditions that have to be fulfilled before you apply for the same. Look at the pointers below that clarify all the umbrellas for getting benefitted through SVC Bank’s fd interest rate benefits.

How to Open an SVC Bank FD Deposit Account?

There are two different ways to apply for opening an SVC Bank Fixed deposit account: Offline or Online. 

• Traditional method or Offline Mode of Opening an SVC Bank FD Account

Here, one may visit the SVC Bank’s nearby branch, ask the executive for an application form, fill the details with attached required documents, choose the type of FD interest rate with tenure, submit to the counter. You will be given a reference detail to access the account henceforth after submission. 

• Digital Method or the Online Mode of Opening an SVC Bank FD Account

1. Visit the official website 
2. Log in to the official page with a registered mobile number or email id
3. Choose the types of FD account you want to open
4. Select the  SVC Bank’s nearby branch
5. Fill up the required information asked to 
6. Attach the digital documents required
7. Click on “submit” 
8. A dialogue box will appear showing the successful submission of the application. 
9. A reference number of your account will be provided for further references on your registered mobile number or/and email ID.

SVC Bank Loan against FD

SVC Bank Fixed Deposit Scheme

Your hard-earned money deserves to be treasured. With SVC’s Long Term Fixed Deposits, be rest assured that your earnings are in the safest, most secure investment option, that assures optimal benefit.

Benefits of SVC Bank Fixed Deposit

• Account can be opened with a minimum of ₹1000/- or any amount fixed by the SVC Corporate Office from time to time. 
• Minimum period is one-year.
• Maximum period is 120 months or any period decided by the SVC Corporate Office from time to time.
• Interest due will be paid on monthly/quarterly/half-yearly or yearly basis
• Loan can be granted for up to 90% of the deposit amount against the pledge of Deposit Receipts in case of need.
• Depositors have the option to schedule their interest payment on monthly/ quarterly/ half-yearly/ yearly basis, at the time of account opening.
• A convenient savings option to secure funds for periodic expenses.

How to Close SVC Bank FD?

One can opt to close SVC Bank FD in the following two ways:-

Closing SVC Bank Fixed Deposit Account on Maturity

To close the FD account at Shamrao Vittal Cooperative Bank Ltd on maturity, the very first step is to reach out to the branch and fill out an FD Account Closure form. Then, the only step left is your validate with your signature and submit it to the branch manager or the office in charge. This step will further be taken under consideration and your FD Account will be closed with a notification sent to your registered mobile number. 

Closing SVC Bank Fixed Deposit Account before Maturity

Before maturity, one can request to close their SVC FD account with the same process as mentioned above. Fill up your FD account closure form, submit and wait until a confirmation is sent on your mail id or mobile number given linked with the bank account. 

End Thoughts

SVC Bank FD rates are not just appealing but fruitful too. For  potential depositors, the plan offered by this bank works well by providing gains. If you have yet to give it a thought, when searching for FD investment plans, check out SVC Bank FD rates that suit all types of depositors effectively.

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FAQ’s on SVC Bank FD Rates:-