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The new rates will come into effect from Friday, May 20, 2022.
One of the largest asset financing company in India Shriram Transport Finance Company Limited (STFC) a part of the Shriram Group, announced a hike in fixed deposit rates by 15 to 25 basis points (0.15%p.a. to 0.25%p.a.) across different tenures.
The new rates will come into effect from Friday, May 20, 2022.
Interest rates on Fixed Deposits through regular channels
|
Tenure |
Existing Interest Rate (p.a.) |
Revised Interest Rate (p.a.) – w.e.f. May 20, 2022 |
Increase in Interest rate (p.a.) |
|
12 months |
6.50% |
6.50% |
No change |
|
24 Months |
6.75% |
6.75% |
No change |
|
36 Months |
7.50% |
7.75% |
0.25% (25 basis points) |
|
48 Months |
7.60% |
7.80% |
0.20% (20 basis points) |
|
60 Months |
7.75% |
7.90% |
0.15% (15 basis points) |
|
Tenure |
Existing Interest Rate (p.a.) |
Revised Interest Rate (p.a.) – w.e.f. May 20, 2022 |
Increase in Interest rate (p.a.) |
|
15 months |
6.75% |
6.75% |
No change |
|
30 Months |
7.50% |
7.75% |
0.25% (25 basis points) |
|
45 Months |
7.60% |
7.80% |
0.20% (20 basis points) |
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