SVC Bank FD Rates 2024

SVC Bank-fixed deposit rates

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 Rate of Interest 2024For Citizens
5.00% – 6.75%General Public
5.50% – 7.25%Senior Citizens

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:-

TenureRegular Citizen FD Rates p.a.Senior Citizen FD Rates p.a.
15 days to 45 days5.00%5.50%
46 days to 84 days5.00%5.50%
85 days5.00%5.50%
86 days to 116 days5.50%6.00%
117 days6.25%6.75%
118 days to 179 days6.00%6.50%
180 days6.50%7.00%
181 days to 330 days6.00%6.50%
331 days to 364 days6.00%6.50%
12 months to below 14 months6.75%7.25%
14 months to below 16 months6.75%7.25%
16 months to 24 months6.25%6.75%
above 24 months to 60 months6.25%6.75%
above 60 months to 120 months6.25%7.00%
Tax exemption Scheme (5 Years)6.25%6.25%

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:-

TenureRegular Citizen FD Rates p.a.Senior Citizen FD Rates p.a.
15 days to 45 days5.00%5.50%
46 days to 84 days5.00%5.50%
85 days5.00%5.50%
86 days to 116 days5.50%6.00%
117 days6.25%6.75%
118 days to 179 days6.00%6.50%
180 days6.50%7.00%
181 days to 330 days6.00%6.50%
331 days to 364 days6.00%6.50%
12 months to below 14 months6.75%7.25%
14 months to below 16 months6.75%7.25%
16 months to 24 months6.25%6.75%
above 24 months to 60 months6.25%6.75%
above 60 months to 120 months6.25%7.00%
Tax exemption Scheme (5 Years)NANA

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:-

TenureInterest Rate (per annum)
Upto 365 daysWithdrawn as per RBI Suggestions
12 months to below 14 months6.75% p.a.
14 months to below 16 months6.75% p.a.
16 months to 24 months6.25% p.a.
Above 24 months to 60 months6.25% p.a.

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:-

12 months to less than 2 years5.75%0.10%0.50%0.50%0.10%
24 months to less than 3 years4.25%NANANANA
36 months to less than 4 years4.00%NANANANA
48 months to less than 5 years4.00%NANANANA
5 years4.00%NANANANA

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. 

Period of DepositSenior Citizens
15-Below 90 Days5.50%
91-Below 180 Days5.15%
181-364 Days6.15%
365 Days-Below 2 Years7.15%
AV Deposit Scheme – 366 Days (Simple Interest)7.40%
Mangal Moorti Scheme- 24 months (Simple Interest)7.40%
Above 24 months to 60 months7.15%
Above 60 months to 120 months6.90%
Tax exemption Scheme (5 Years)7.25%

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.

Eligibility CriteriaSalaried and Self-Employed
Income CriteriaMinimum salary: Rs.25000 for SVC Bank Home Loan 
Age CriteriaMinimum: 21 years 

Maximum: 60 years

Loan TenureUp to 20 years
Loan AmountMaximum limit Rs.70 lakhs
Interest RateAt 8 per cent onwards 
Processing Fees0.65% + service tax as applicable from time to time 
Prepayment ChargesNA

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

Name of Retail ProductROI p.a w.e.f.


New Housing loanStarting from 6.70%*
New Housing Loan under Affordable Housing Loan SchemeStarting from 9.05%*
Housing Loan – Top UpStarting from 9.10%*
Loan Against Property/Commercial Property Purchase Loan/Top up on Mortgage or Commercial Property Purchase LoanStarting from 9.00%*
Doctor LoanStarting from 9.00%*
Education LoanStarting from 9.25%*
New Car LoanStarting from 7.25%*
Car Loan – Second Hand CarStarting from 12.80%*
New Commercial Vehicles LoanStarting from 12.80%*
New Two Wheeler Loan11.30%*
Gold LoanStarting from 9.00%*
Personal / Surety Loan16.30%*
Group Loan16.30%*
Life Style Finance15.80%*
Advance against Govt. Securities10.25%*
O.D against Salary15.30%*
Overdraft Against Shares15.30%*

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.

You May Also Read

Fixed Deposit Top PagesFixed Deposit Other Pages
HDFC Bank Fixed Deposit RatesMahindra Finance FD Rates
Fixed Deposit Under Section 80CBank of India FD Rates
Loan against Fixed DepositBank of Baroda FD Rates
Flexi Fixed DepositKotak Mahindra Bank FD Rates
Cumulative Vs Non Cumulative Fixed DepositIndian Overseas Bank FD Rate
NRO Fixed DepositCentral Bank of India FD Rates
NRE Fixed DepositCity Union Bank FD Rates
Senior Citizen Fixed DepositSundaram Finance FD Rates

FAQ’s on SVC Bank FD Rates:-

Q1. Which bank is best for FD rates?

Ans: Banks such as SVC, DCB, and Indusind Bank are good with their policies and FD rates with tons of customers joining with the brand to start their FD accounts. 

Q2. What is a five-year FD?

Ans: A five-year fixed deposit or term deposit is also called Tax Saving FD. In such FDs, the person will have relief from the tax deduction falling under Section 80 C, Income Tax Act, 1961. Therefore, the account holder will be allowed to claim up to Rs. 1.5 lakhs.

Q3. Can SVC Bank FD be a good investment?

Ans: People who want a constant, secure and stable future return can rely on FD investment which is away from any market risks with ensured interest rates decided by the bank.

Q4. What will be the FD rates in banks for Senior Citizens in the year 2024?

Ans: For senior citizens, banks usually offer hiked interest rates falling from 0.50 % to 0.75% per annum above the regular applicable FD rates.

Q5. What is the rate of the SVC savings account?

Ans: Currently, the Shamrao Vithal Co-op Bank savings account provides an interest rate of 3% per annum based on the daily balance and account type.

Q6. Should one invest in SVC Bank fixed deposits?

Ans: Fixed Deposit is a secure way to earn returns on savings. Besides this, the current financial market offers attractive interest returns, making this plan more effective for non-risk takers.

Shreya Shreya knows the art of engaging the readers with interactive write-ups and innovative information. Her writings are thoroughly researched, creative and focused on the subject of discourse. It helps her create consistency in reading that a reader loves to embrace. Her style of clarifying people’s curiosity into words is pretty convenient and makes it effectively convincing.
  • Super Quick & Easy
  • Stamped & E-Signed
  • Delivered Directly in Mailbox

Exploring Options for Buying or Renting Property

Looking to buy or rent property
Related Category
  • EPF
  • Income Tax
  • Saving Account
Contact Our Real Estate Experts