From May 1, 2025, both Shivalik Small Finance Bank and IDFC FIRST Bank have revised their interest rates for savings accounts and fixed deposits. These changes will impact how much customers earn on their deposits, depending on the balance amount and tenure. Here’s a quick look at the updated savings and FD interest rates offered by these two banks, along with key details on how interest is calculated.
Shivalik Small Finance savings account interest rate
Shivalik SFB has revised its savings account interest rate. After revision, the bank offers savings account interest rates between 2.50% and 8.20% depending on the balance slab. The rates are effective from May 1, 2025. Savings Bank Account interest is calculated daily on the daily closing balance in the account, at the rate specified by Shivalik Small Finance Bank in accordance with Reserve Bank of India directives.
Also read: IndusInd Bank raises FD interest rates on select tenures and Kotak Mahindra Bank reduces FD rate on select tenures
| Balance Range | Rate of Interest (% p.a.) |
| General | |
| Up to 1 Lacs | 2.50% |
| Above 1 Lac to 5 Lacs | 3.25% |
| Above 5 Lacs to 10 Lacs | 3.50% |
| Above 10 Lacs to 25 Lacs | 4.00% |
| Above 25 Lacs to 50 Lacs | 6.00% |
| Above 50 Lacs to 5 Crore | 7.00% |
| Above 5 Crore to 7 Crore | 7.25% |
| Above 7 Crore to 10 Crore | 7.50% |
| Above 10 Crore to 20 Crore | 7.95% |
| Above 20 Crore | 8.20% |
Shivalik Small Finance Bank FD interest rate
Shivalik Small Finance Bank has revised fixed deposit interest rate for deposits below Rs 3 crore. According to data available on the bank’s website, Shivalik Small Finance Bank now offers an interest rate ranging from 3.50% to 8.20% per annum on FDs for general citizens and from 4% to 8.70% per annum for senior citizens.
| Rate of Interest (% p.a.) | ||
| Amount less than Rs.3 Crores | ||
| General | Senior Citizen | |
| 3.50% | 4.00% | |
| 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 | 6.00% | 6.50% |
| 9 months to 12 months | 6.00% | 6.50% |
| 12 months 1 day to less than 18 months | 8.20% | 8.70% |
| 18 months to 24 months | 8.20% | 8.70% |
| 24 months 1 day to 36 months | 7.50% | 8.00% |
| 36 months 1 day to 60 months | 6.50% | 7.00% |
| 60 months 1 day to 120 months | 6.25% | 6.75% |
| Tax saver FD 5 Years (60 months) | 6.50% | 7.00% |
IDFC FIRST Bank savings account interest rate
IDFC FIRST Bank has revised its savings interest rate. After revision, the bank offers savings account interest rates between 3% and 7.25% depending on the balance slab. The rates are effective from May 1, 2025. As per Reserve Bank of India directives, savings bank account interest will be calculated on daily end of day balances at the rate of interest as specified by IDFC FIRST Bank from time to time. The periodicity of payment of interest on savings bank accounts is on a monthly basis. Interest will be calculated on progressive balances in each Interest Rate Slab as applicable.
| Balance (Rupees) | Rate of Interest (% p.a., Progressive) |
| = 5 lac | 3.00% |
| > 5 lac = 10 lac | 5.00% |
| > 10 lac = 25 crs | 7.25% |
| > 25 crs = 50 crs | 6.50% |
| > 50 crs = 100 crs | 6.00% |
| > 100 crs = 200 crs | 4.50% |
| > 200 crs | 3.50% |
IDFC FIRST Bank FD interest rates
According to data available on the bank’s website, IDFC FIRST Bank now offers an interest rate ranging from 3% to 7.75% per annum on FDs for general citizens and from 3.5% to 8.25% per annum for senior citizens. The new rates are applicable from May 1, 2025.
| Period | Rate of Interest (% p.a.) w.e.f. 1st May 2025 |
| Less than INR 3 Crores | |
| 7 – 14 days | 3.00% |
| 15 – 29 days | 3.00% |
| 30 – 45 days | 3.00% |
| 46 – 90 days | 4.50% |
| 91 – 180 days | 4.50% |
| 181 days – less than 1 Year | 5.50% |
| 1 year | 6.25% |
| 1 year 1 day – 370 days | 6.75% |
| 371 days to 399 days | 7.00% |
| 400 days to 500 days | 7.25% |
| 501 days – 2 years | 6.75% |
| 2 years 1 day – 3 years | 6.25% |
| 3 years 1 day – 5 years | 6.00% |
| 5 years 1 day – 10 years | 6.00% |
