Shriram Finance Limited (SFL) has increased the interest rate on fixed deposits. If you want to get strong interest on FD in the new year, then you can check its rate. FD interest rates are increasing since the Reserve Bank increased the repo rate.
FD Hike: In the new year, if you want to get tremendous interest on Fixed Deposits, then Shriram Finance Limited (SFL) is giving a big opportunity. Shriram Finance Limited, one of India’s largest retail NBFC, has increased the interest rates on fixed deposits. This NBFC has increased the interest of fixed deposits by 5 to 10 basis points (BPS). The new interest rates have come into effect from January 1. Customers can get interest at the rate of 9.36 percent on fixed deposits. However, for this, Shri Ram Finance has set some conditions.
Shriram Finance FD Rates
Shriram Finance has increased the interest rates on FDs maturing in 12 months by 30 basis points. That’s why now the interest rates have increased from 7 percent to 7.30 percent. Shriram Finance has increased the interest rates of FDs maturing in 18 months by 20 basis points and the interest rates have now increased from 7.30 per cent to 7.50 per cent. Similarly, the interest rates for FDs for a period of 24 months have been increased by 25 basis points, due to which the interest rates have increased from 7.50 per cent to 7.75 per cent.
The firm has increased 36-month FD interest rates by 10 basis points, increasing the interest rate from 8.05 per cent to 8.15 per cent. FD interest rate of 42 months has increased by 5 basis points, taking the interest rates from 8.15% to 8.20%. Deposits maturing in 48 months will now fetch an interest rate of 8.25%, which was earlier 8.20%. Deposits maturing in 60 months will now earn interest at the rate of 8.45%, which is 15 bps higher than the old rate.
Additional interest for senior citizens
Shriram Finance Limited provides 0.50% additional interest to senior citizens and 0.10% additional interest to women senior citizens. On regular deposits, the firm offers interest at the rate of 8.45 per cent for a tenure of 60 months. At the same time, senior citizens will get an additional 0.50 percent interest, due to which the interest rate will increase to 8.95 percent for them. At the same time, a maximum interest of 9.36% will be given on renewal of deposits made by senior citizen women.
Deposit on Regular Deposit and Renewal
Shriram Finance is offering a maximum interest rate of 8.72% on Regular Deposits and their renewals, while a maximum rate of interest of 9.26% will be available on Senior Citizen Deposit Scheme and renewals. A maximum return of 8.55 per cent will be given on deposits made by women. Women depositors who are senior citizens will get a maximum interest rate of 9.09%, on renewal women depositors will get a maximum return of 8.82% per annum for a tenure of 60 months.
