As part of the Shriram Group’s golden jubilee celebrations, Shriram Finance Limited (SFL), India’s largest retail NBFC, announced a special fixed deposit rate under the Jubilee Deposit (Shriram Unnati Deposits) category. The company will consider applications for new and renewal fixed deposits. The company offers a maximum interest rate of 8.50% for the general public, 8.61% for women depositors, 8.77% on renewal of existing deposits, 8.88% on renewal by women, 9.04% for senior citizens, 9.15% for women senior citizens, 9.31% on renewal by senior citizens and 9.42% on renewal made by women senior citizens.
“The other schemes specified in the company announcement dated March 9, 2023, will remain unchanged except for the 48-month scheme, which will be withdrawn with effect from April 15, 2023. Other terms and conditions of the fixed deposits schemes shall remain unchanged,” said Shriram Finance in a stock exchange filing.
Shriram Finance FD Rates
Jubilee Deposit (Tenure – 50 months) | ||||||
Non-Cumulative Deposits | Cumulative Deposits | |||||
Investment Type |
Monthly % p.a. |
Quarterly % p.a. |
Half Yearly % p.a. |
Yearly % p.a. |
Effective Yield % p.a. |
Maturity Value for Rs.5,000/- |
Fresh | 8.18 | 8.24 | 8.33 | 8.50 | 9.71 | 7,025 |
Women | 8.28 | 8.34 | 8.43 | 8.61 | 9.85 | 7,050 |
Renewal | 8.43 | 8.49 | 8.58 | 8.77 | 10.06 | 7,095 |
Women Renewal | 8.53 | 8.60 | 8.69 | 8.88 | 10.20 | 7,125 |
Senior Citizen | 8.68 | 8.75 | 8.84 | 9.04 | 10.41 | 7,170 |
Senior Citizen Women | 8.78 | 8.85 | 8.95 | 9.15 | 10.56 | 7,200 |
Senior Citizen Renewal | 8.93 | 9.00 | 9.10 | 9.31 | 10.77 | 7,245 |
Senior Citizen Women Renewal | 9.03 | 9.10 | 9.21 | 9.42 | 10.91 | 7,275 |
Source: Shriram Finance Ltd |
Senior citizens will continue to receive an additional interest of 0.50% per annum, senior citizen women will receive an additional interest of 0.60% per annum, women investors will receive an extra 0.10% p.a. interest and all the above tenures will be available for both offline and online investments.
One of the largest NBFCs in India is Shriram Finance Ltd, a 43-year-old organisation that is a subsidiary of the Shriram Group. The company is a pioneer in organised pre-owned truck finance and has a strong presence in 5–10 year old vehicle loans. With 57,382 employees and a network of 2,875 branches, the organisation is present throughout all of India. Almost 6.7 million people make up the company’s enormous customer base.