Shriram Transport Finance Company Limited raises Fixed Deposit Interest Rates by upto 25bps

20 May 2022 , 03:16 PM

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)

Interest rates on Fixed Deposits: 

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)

An additional interest of 0.50% p.a will be paid to Senior Citizen depositors, which was 0.30% p.a. earlier.