Shriram Transport Finance Company Limited and Shriram City Union Finance raises Fixed Deposit Interest Rates by upto 50bps

One of the largest asset financing company in India Shriram Transport Finance Company Limited (STFC) and Shriram City Union Finance (SCUF) a part of the Shriram Group, announced a hike in fixed deposit rates by 25 to 50 basis points (0.25%p.a. to 0.50%p.a.) across different tenures. Customers can earn interest up to 8.75% on FDs, effective from Aug 10, 2022.

Interest rates on Fixed Deposits through regular channels

Tenure Existing Interest Rate (p.a.) Revised Interest Rate (p.a.) –

w.e.f. Aug 10, 2022

Increase in Interest rate (p.a.)
12 months 6.50% 6.75% 0.25% (25 basis points)
24 Months 6.75% 7.25% 0.50% (50 basis points)
36 Months 7.75% 8.00% 0.25% (25 basis points)
48 Months 7.80% 8.15% 0.35% (35 basis points)
60 Months 7.90% 8.25% 0.35% (35 basis points)

Interest rates on Fixed Deposits through the Company website: 

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% 7.25% 0.50% (50 basis points)
30 Months 7.75% 8.00% 0.25% (25 basis points)
45 Months 7.80% 8.15% 0.35% (35 basis points)

An additional interest of 0.50% p.a will be paid to Senior Citizen depositors (Completed age 60 years on the date of deposit/renewal).

An Additional interest of 0.25% p.a. will be paid on all Renewals, where the deposit is matured.

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