Shriram City Union Finance Limited (Shriram City), one of the leading Non-Banking Financial Company (NBFC), and part of Shriram Group, has raised 5 to 25 basis points in fixed (0.05% p.a. to 0.25% p.a.). year) increase. Deposit rates in different tenors. After the amendment, general public will now be eligible for a maximum interest rate of 8.30% on FDs, while senior citizens will be eligible for a maximum interest rate of 8.80% with effect from October 14, 2022. The company also offers a special benefit for this. Women depositors will be paid an additional 10bps per annum on all FD rates.
Shriram City Union Finance FD Rates
The interest rate on deposits maturing in 12 months has been increased by 25 basis points from 6.75% to 7%, while deposits maturing in 18 months will now be offered at 7.30%. Deposits maturing in 24 months will now pay an interest rate of 7.50% as against 7.25% earlier, representing an increase of 25 basis points, while deposits maturing in 30 months will now pay an interest rate of 8.00% will be paid. Shriram City Union Finance will now offer an interest rate of 8.05% on deposits maturing in 36 months from 8.00% earlier, an increase of 5 basis points, while Shriram City will now offer an interest rate of 8.15% on deposits maturing in 42 months. interest rate will be offered. , Shriram City Union Finance has increased the interest rates on deposits maturing in 48 months from 8.15% to 8.20 percent and on deposits maturing in 60 months from 8.25 percent to 8.30 percent.
| tenure | Current interest rate (per annum) | Revised Rate of Interest (per annum) WEF 14 October 2022 | Increase in interest rate (per annum) |
| 12 months | 6.75% | 7.00% | 0.25% (25 basis points) |
| 18 months | No | 7.30% | new rates |
| 24 months | 7.25% | 7.50% | 0.25% (25 basis points) |
| 30 months | 8.00% (Online Only) | 8.00% (now enabled offline) | |
| 36 months | 8.00% | 8.05% | 0.05% (5 basis points) |
| 42 months | No | 8.15% | new rates |
| 48 months | 8.15% | 8.20% | 0.05% (5 basis points) |
| 60 months | 8.25% | 8.30% | 0.05% (5 basis points) |
| Source | Shriram City Union Finance |
Senior citizen depositors who have reached the age of 60 years on the date of deposit/renewal will get an additional 0.50% p.a., while the firm offers an additional 0.25% p.a. on renewal of the deposit after maturity and an additional one for women 0.10% p.a. is introduced. Depositor as a new facility. Shriram City Union Finance, a 35-year-old subsidiary of Shriram Group, is a leading non-banking finance company in India. The company is a major lender to SMEs, the largest two-wheeler financier providing gold loans, and it has a housing finance subsidiary, Shriram Housing Finance Ltd., CRISIL, ICRA, and India Ratings, giving the firm AA long-term credit. grade is assigned. , Shriram Group has approximately 22.5 million customers and employs over 79,100 employees across 4,000 outlets. As of March-2022, the company has a net profit of Rs 53.6 billion and assets under management (AUM) of over Rs 2.16 trillion.
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