Shriram Transport Finance Hikes FD Rates Up To 8.90% - Check Out Details
Learn about the change in Shriram Transport Finance Company FD interest rates across different tenures.
Shriram Transport Finance Company has hiked its fixed deposit (FD) interest rates. The company has hiked the interest rates by 5 to 25 bps, or 0.05% to 0.25% per annum across FD of different tenures. The company's official statement states that the new FD rates will be effective from October 14, 2022.
Introducing an additional advantage for women, Shriram Transport Finance Company will also provide an additional interest of 10 bps per annum to women depositors. Let’s take a look at the change in Shriram Transport Finance Company FD interest rates across different tenures.
Shriram Transport Finance Company FD Rates
Shriram Transport Finance Company has hiked the interest rates for fixed deposits maturing in 12 months by 25 bps to 7.00% per annum from 6.75% per annum.
The company is now offering a new interest rate of 7.30% per annum on fixed deposits maturing in 18 months.
For fixed deposits maturing in 24 months, Shriram Transport Finance Company has now hiked the interest rate by 25 bps. It will now offer an interest rate of 7.50% per annum as compared to the earlier rate of 7.25% per annum.
For both online and offline fixed deposits maturing in 30 months, the company will offer an interest rate of 8% per annum.
On fixed deposits maturing in 36 months, Shriram Transport Finance Company will now offer an interest rate of 8.05% per annum, which is a 5 bps hike from the previous interest rate of 8.00% per annum.
The company is now offering a new interest rate of 8.15% per annum on fixed deposits maturing in 42 months.
Shriram Transport Finance Company has hiked the fixed deposit interest rates for FDs maturing in 48 months by 5 bps to 8.20% per annum from 8.15% per annum.
The company has hiked the interest rate on fixed deposits maturing in 60 months by 5 bps to 8.30% per annum from 8.25% per annum.
For senior citizen depositors who have completed the age of 60 years on the date of FD deposit or renewal, Shriram Transport Finance Company now also offers an additional interest of 0.50% per annum.
Shriram Transport Finance Company will also offer an additional interest of 0.10% per annum to women depositors.
On all FD renewals, where the deposit is matured, the asset financing company is also offering an additional interest of 0.25% per annum.
After the above-mentioned change in fixed deposit interest rates, non-senior citizens will be eligible for a maximum interest of 8.30% on Shriram Transport Finance Company FDs, while senior citizens will be eligible for a maximum interest of 8.90% on Shriram Transport Finance Company FDs. These rates will be effective from October 14, 2022.
Suggested Read: Premature Withdrawal Of Fixed Deposit: Can You Withdraw Money Before Maturity?
Disclaimer: The interest rates mentioned in this article are recorded at the time of writing and are subject to change. BQ Prime does not endorse any of the FDs mentioned above. Please invest at your own discretion.
