Shriram Finance's Unnati Jubilee fixed deposit scheme: These investors can earn up to 9.15% FD interest rate

To commemorate the Shriram Group's golden jubilee, Shriram Finance, a division of the Shriram Group, launched a special fixed deposit scheme under the category of Jubilee Deposits (Shriram Unnati Deposits) offering higher interest rates. The rates will be effective from April 5, 2023, according to a press release issued by Shriram Finance.

The new deposit scheme will be applicable for new and renewed fixed deposits with a 50-month term and the interest rates, it will be available for a limited period. Women senior citizens are eligible for the highest FD rates of up to 9.15% per annum.

With the exception of the 48-month scheme, which will be discontinued with effect from April 15, 2023, the other schemes as of March 9, 2023, will remain unchanged.

Also read: POTD (post office time deposits) vs bank FDs: Which is offering best interest rates

Interest rates on Shriram Unnati Jubilee Deposit

Invest and Earn on ET Money - Get up to 9.5% p.a. returns

Jubilee Deposit (Tenure - 50 months)
	Non-Cumulative Deposits	Cumulative Deposits
Investment	Monthly	Quarterly	Half	Yearly	Effective	Maturity
Type	% p.a.	% p.a.	Yearly % p.a.	% p.a.	Yield	Value for Rs.5,000/-
					% p.a.
Fresh	8	8.2	8.3	8.5	9.7	7,025
Women	8	8.3	8.4	8.61	9.9	7,050
Renewal	8	8.5	8.6	8.77	10	7,095
Women Renewal	9	8.6	8.7	8.88	10	7,125
Senior Citizen	9	8.8	8.8	9.04	10	7,170
Senior Citizen Women	9	8.9	9	9.15	11	7,200
Senior Citizen Renewal	9	9	9.1	9.31	11	7,245
Senior Citizen Women Renewal
9	9.1	9.2	9.42	11	7,275

Source: Bank press release

Important things to know

• Women investors will receive an extra 0.10% p.a. interest
• Senior citizens will receive an additional interest of 0.50% p.a.
• Senior citizen women will receive an additional interest of 0.60% p.a.
• All the above tenures will be available for both offline and online investments.

For example, suppose a firm offers a maximum annual interest rate of 8.5% on deposits with a tenor of 60 months; additionally, senior citizens earn an additional 50 basis points higher interest rate, and elderly ladies renewing accounts receive a maximum interest rate of 0.10%+ 0.25%.

How to apply for Sriram Finance fixed deposit
Step 1: Register using mobile number
Step 2: Enter PAN details and investment
Step 3: Enter tenure, KYC, and bank details and complete your payment
Step 4: Receive fixed deposit receipt and maximise your returns.