Earn up to 9.36% interest rate on this NBFC’s FDs
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Synopsis
Shriram Finance (SFL) has increased fixed deposit interest rates across the board. The new FD rates go into effect on January 1, 2023.
By Sneha Kulkarni, ET Online
Shriram Finance (SFL) has hiked fixed deposit interest rates across different tenures. The new rates on FDs are effective from January 1, 2023.
On Shriram Unnati Deposits rates are hiked by 5 to 30 basis points(0.05% p.a. to 0.30% p.a.) across different tenures. Customers can earn interest up to 9.36% on FDs, effective from January 1, 2023. Additional 0.25% p.a will be paid on all renewals.
Women depositors who are senior citizens and renewing their deposits will be able to receive interest on FDs up to 9.36 percent starting on January 1, 2023.
Source: Sriram Finance press release
Important things to note on interest rate
According to the Sriram finance press release, below are interest rates for senior citizens, and women depositors.
Step 1: Register using mobile number
Step 2: Enter PAN details and investment amount
Step 3: Enter tenure, KYC, and bank details and complete your payment.
Step 4: Receive fixed deposit receipt
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Increase in interest rate On Shriram Unnati Deposits rates are hiked by 5 to 30 basis points(0.05% p.a. to 0.30% p.a.) across different tenures. Customers can earn interest up to 9.36% on FDs, effective from January 1, 2023. Additional 0.25% p.a will be paid on all renewals.
Women depositors who are senior citizens and renewing their deposits will be able to receive interest on FDs up to 9.36 percent starting on January 1, 2023.
| Period (months) | Existing Interest rate (p.a.) | Revised Interest rate (p.a.) | Increase in Interest rate (p.a.) |
| WEF Jan 1 2023 | |||
| 12 | 7.00% | 7.30% | 0.30% (30 basis points) |
| 18 | 7.30% | 7.50% | 0.20% (20 basis points) |
| 24 | 7.50% | 7.75% | 0.25% (25 basis points) |
| 30 | 8.00% | 8.00% | - |
| 36 | 8.05% | 8.15% | 0.10% (10 basis points) |
| 42 | 8.15% | 8.20% | 0.5% (5 basis points) |
| 48 | 8.20% | 8.25% | 0.5% (5 basis points) |
| 60 | 8.30% | 8.45% | 0.15% (15 basis points) |
Important things to note on interest rate
According to the Sriram finance press release, below are interest rates for senior citizens, and women depositors.
Invest and Earn on ET Money - Get up to 9.5% p.a. returns
- Additional interest of 0.50% p.a will be paid for senior citizen (completed age 60 years on the date of deposit/renewal)
- Additional interest of 0.25% p.a will be paid on all renewals.
- Additional interest of 0.10% p.a. will be paid to Women Depositors.
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How to book FD in four easy stepsStep 1: Register using mobile number
Step 2: Enter PAN details and investment amount
Step 3: Enter tenure, KYC, and bank details and complete your payment.
Step 4: Receive fixed deposit receipt
