- Interest rates increased 5-30 basis points, effective January 1st, 2023
- The revised interest rates apply to tenure across 12 months to 60 months
Chennai : India’s largest retail NBFC, Shriram Finance Limited (SFL) a part of Shriram Group, announced a hike in fixed deposit (Shriram Unnati Deposits) rates by 5 to 30 basis points (0.05% p.a. to 0.30% p.a.) across different tenures. Customers can earn interest up to 9.36% on FDs, effective from January 1, 2023. Additional 0.25% p.a will be paid on all renewals.
Interest rates on Fixed Deposits
| Period (months) | Existing Interest rate (p.a.) | Revised Interest rate (p.a.)WEF Jan 1 2023 | Increase in Interest rate (p.a.) |
| 12 | 7.00% | 7.30% | 0.30% (30 basis points) |
| 18 | 7.30% | 7.50% | 0.20% (20 basis points) |
| 24 | 7.50% | 7.75% | 0.25% (25 basis points) |
| 30 | 8.00% | 8.00% | – |
| 36 | 8.05% | 8.15% | 0.10% (10 basis points) |
| 42 | 8.15% | 8.20% | 0.5% (5 basis points) |
| 48 | 8.20% | 8.25% | 0.5% (5 basis points) |
| 60 | 8.30% | 8.45% | 0.15% (15 basis points) |
- Additional interest of 0.50% p.a will be paid for senior citizen (completed age 60 years on the date of deposit/renewal)
- Additional interest of 0.25% p.a will be paid on all renewals.
- Additional interest of 0.10% p.a. will be paid to Women Depositors.
- All above tenures will be available for both offline and online investments.