Shriram City Union Finance raises Fixed Deposit rates by upto 25bps

19 May 2022 , 12:08 PM

Shriram City Union Finance Ltd. (Shriram City), a leading financier to Small Business Enterprises and part of the Shriram Group announced a hike in fixed deposit rates by 15 to 25 basis points, or 0.15 to 0.25 per cent across different tenors. The increased Shriram City FD rates apply to tenors between 36 months to 60 months. The FD rates for 12 months to 24 month tenors are unchanged.

The FD rates have been raised for the 36-month tenor by 25bps, 48-month tenors by 20bps and 60-month tenor by 15bps. Also an additional interest of 0.50% p.a will be paid to Senior Citizen depositors, which was 0.30% earlier. The new rates come into effect from May 20, Friday. 

Tenure	Existing Interest Rate (p.a.)	Revised Interest Rate (p.a.) — w.e.f. 20th May 2022
12 months	6.50%	6.50%
24 Months	6.75%	6.75%
36 Months	7.50%	7.75%
48 Months	7.60%	7.80%
60 Months	7.75%	7.90%

Additional interest of 0.50% p.a to be paid to Senior Citizen depositors (this was 0.30% earlier)