The fixed deposit schemes of Shamrao Vithal Cooperative (SVC) Bank feature attractive rates of interested which have flexible term plans. Under the fixed deposit schemes, short-term schemes, tax saver plans and long-term schemes are featured. At loanbaba.com, we will share updated information about best fixed deposit rates, FD India schemes of the bank and Shamrao Vithal Co-operative Bank FD rates over all tenures for fixed deposit and term deposit. You will also come to know about popular FD rates, India by the bank for 2017 and FD interest rates that are the highest.
The short term schemes are between 15 days and 1 year where the amount of maximum deposit is 15 lakhs Rupees.
Here is a list of interest rates for each scheme:
| Time Duration | Regular Annual Rates | Annual Rates for Senior Citizens |
|---|---|---|
| 15 days to 3 months | 4.75% | 4.75% |
| Above 3 months to 6 months | 5% | 5.15% |
| Above six months to 1 year | 6% | 6.15% |
The long term schemes are from more than one year to ten years where the amount of maximum deposit is fifteen lakhs.
Here is a list of interest rates for each scheme:
| Time Duration | Regular Annual Rates | Annual Rates for Senior Citizens |
|---|---|---|
| More than 1 year up to 2 years | 7% | 7.15% |
| AV Deposit (Simple Interest scheme for 366 days) | 7.25% | 7.40% |
| Mangal Moorti Scheme(Simple Interest scheme for 2 years) | 7.25% | 7.40 % |
| More than 2 years up to 5 years | 7% | 7.15% |
| More than 5 years up to 10 years | 6.75% | 6.90% |
| Tax Exemption Scheme (Five Years) | 7.25% | 7.25% |
AV Deposit Scheme is offered by the bank at a simple interest of 8.25p.a. ( the rate is 8.4%p.a. for senior citizens) for 366 days whereas Mangal Moorti Scheme for 555 days features the same rates of interest of AV Deposit Scheme.
Tax Saver scheme features a rate of 8%p.a. for a period of 5 years. Senior citizens don’t get any additional benefit this time.
The NRI’s funds in INR are managed via NRO scheme. The rates of interest differ from the rates for the Indian citizens by a minimal margin.
Here is a list of rates of interest for NRO FD schemes:
| Tenure | Annual Rates of Interest (Revised) |
|---|---|
| 15 days to 3 months | 4.75% |
| More than 3 months up to 6 months | 5% |
| More than 6 months up to 364 days | 6% |
| More than 365 days up to 2 years | 7% |
| AV Deposit(Scheme of Simple Interest for 366 days) | 7.25% |
| Mangal Moorti(Scheme of Simple Interest for 2 years) | 7.25% |
| More than 2 years up to 5 years | 7% |
| More than 5 years up to 10 years | 6.75% |
| Tax Exemption Scheme-Five years | 7.25% |
The non-resident Indians, under the Non-Resident External (NRE) scheme can deposit their money in different currencies. It gets converted to INR and is saved in the FD. The rates for NREs are different from that for the Indian residents; however, there aren’t any special rates for NRE senior citizens.
Here is the list of Interest rates:
| Period | Interest Rates(Annual) |
|---|---|
| More than 365 days up to 2 years | 7% |
| More than 2 years up to 5 years | 7% |
| Savings Deposits | 4% |
| Simple Interest schemes(SVCC for 2 years isn’t applicable) | |
| Mangal Moorti (Scheme for 2 years) | 7.25% |
Even the non residents of India (NRIs) & Indian origin people can manage deposits amount in the different currencies through FCNR Deposit Schemes.
Here are given the annual rates for the same:
| Period | JPY | EUR | AUD | USD | GBP |
|---|---|---|---|---|---|
| 1 to below 2 years | 2.04% | 1.79% | 3.78% | 3.39 % | 2.37 % |
| 2 to below 3 years | 2.04% | 1.86% | 3.87 % | 3.57 % | 2.56 % |
| 3 to below 4 years | 3.04% | 2.97% | 5.01 %. | 4.71 % | 3.63 % |
| 4 to below 5 years | 3.05% | 3.09% | 5.33 % | 4.82 % | 3.71 % |
| 5 Years | 3.07% | 3.22% | 5.46 % | 4.92 % | 3.80 % |
