Shriram Finance Ltd revises FD interest rates on various tenors

Mumbai, eleventh April 2024: ShriramFinanceLtd(SFL), India’s largest retail NBFC has elevatedinterestrateson mounted deposits by 0.05 to 0.20 invariousmaturity tenures. The revisedrateshave come into impact from 9 April 2024.

Senior residents aged 60 years or above on the time of deposit/renewal are eligible to earn an extra 0.50%interesteach year, whereas girls buyers can avail an additional 0.10%interesteach year. SFL will supply an extrainterestof 0.25% each year on all renewals. The Fixed Deposits are rated “[ICRA]AA+ (Stable)” by ICRA and “IND AA+/Stable” by India Ratings and Research. Deposits will probably be accepted in multiples of Rs. 1,000/-, topic to a minimal quantity of Rs. 5,000/- . Cumulative deposits will be renewed for maturity worth.

For Non-cumulative mounted deposits, SFL givesinterestratesstarting from 7.85% to eight.80% each year for phrases spanning 12 to 60 months. The efficient yield on Cumulative mounted deposits is between 7.85% to 10.50% each year for a similar tenure vary.

All above tenures will probably be obtainable for each offline and on-line investments.

Umesh Revankar, Executive Vice Chairman,ShriramFinanceLtdstated,“The revised time period depositratesgoal to supply our Depositors with a variety of engaging depositrates. These revisions not solely profit depositors for wealth creation but additionally contribute to the target of balancing and optimizing the general price of deposits.”