Shriram Finance recently revised fixed deposit rates, offering up to 9.36% interest to women senior citizen account holders. Shriram Finance is one of the largest retail NBFCs in India.
The NBFC has increased interest rates by 5-30 basis points with effect from January 1, 2023. The revised rates will apply to tenures across 12 months to 60 months. The NBFC is also offering an additional 0.25% interest on all renewals.
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Revised interest rates from January 1
- 12 months FD: Shriram Finance is now offering 7.3% interest
- 18 months FD: Shriram Finance is now offering 7.5% interest
- 24 months FD: Shriram Finance is now offering 7.75% interest
- 30 months FD: Shriram Finance is now offering 8% interest
- 36 months FD: Shriram Finance is now offering 8.15% interest
- 42 months FD: Shriram Finance is now offering 8.20% interest
- 48 months FD: Shriram Finance is now offering 8.25% interest
- 60 months FD: Shriram Finance is now offering 8.45% interest
Revised interest rates from January 1 for senior citizens
- 12 months FD: Shriram Finance is now offering 7.83% interest
- 18 months FD: Shriram Finance is now offering 8.04% interest
- 24 months FD: Shriram Finance is now offering 8.28% interest
- 30 months FD: Shriram Finance is now offering 8.54% interest
- 36 months FD: Shriram Finance is now offering 8.69% interest
- 42 months FD: Shriram Finance is now offering 8.74% interest
- 48 months FD: Shriram Finance is now offering 8.79% interest
- 60 months FD: Shriram Finance is now offering 8.99% interest
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Revised interest rates from January 1 for women+senior citizen+Renewal
- 12 months FD: Shriram Finance is now offering 8.21% interest
- 18 months FD: Shriram Finance is now offering 8.41% interest
- 24 months FD: Shriram Finance is now offering 8.66% interest
- 30 months FD: Shriram Finance is now offering 8.92% interest
- 36 months FD: Shriram Finance is now offering 9.07% interest
- 42 months FD: Shriram Finance is now offering 9.12% interest
- 48 months FD: Shriram Finance is now offering 9.17% interest
- 60 months FD: Shriram Finance is now offering 9.36% interest
For senior citizens aged above, Shriram Finance offers 0.5% per annum estra interest. The NFBC also offers an additional 0.10% interest to women depositors while an additional 0.25% interest is available on all renewals.
Is it safe to invest in Shriram Finance FD?
Shriram Finance is an NBFC and a part of the Shriram Group. It is also one of the largest NFBCs in India. However, the FDs offered by NBFCs are subject to directions issued by the RBI. These deposits do not enjoy the Rs 5 lakh deposit insurance guarantee offered by regular banks according to RBI rules. Therefore, depositors should be cautious before investing in the FD scheme offered by the NBFC.
