Shriram Transport Finance raises fixed deposit interest rates by up to 25bps
Premium- The revised rates of interest are 6.5% for 12 months, 6.75% for 24 months, 7.75% for 36 months, 7.8% for 48 months, and 7.9% for a 60-month tenure
NEW DELHI: Shriram Transport Finance Company, part of the Shriram Group, has hiked fixed deposit rates by 15-25 basis points (bps) across different tenors. The new rates will be effective 20 May.
FD rates for 12-24 months remain unchanged, and those for 36 months have been raised 25 bps. The 48-month rates are up 20bps and 60 months by 15bps. Also, an additional interest of 0.50% per annum will be paid to senior citizen depositors, which was 0.30% earlier.
The revised rates of interest are 6.5% for 12 months, 6.75% for 24 months, 7.75% for 36 months, 7.8% for 48 months, and 7.9% for a 60-month tenure.
There are special tenures – 15 months, 30 months and 45-months, for those investing through the company’s website. Interest rates have been hiked for 30-month and 45-month tenures by 25 basis points and 20 basis points respectively.
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The interest rates applicable from May 20 for those investing through the company’s website are 6.75% for 15-month, 7.75% for 30-month and 7.8 % for 45-month tenure.