Shriram Finance FD Interest Rate Jul 2023
Shriram Finance Fixed Deposits, formerly known as Shriram Transport Finance Company (STFC), have gained popularity as a trusted and favored investment choice for individuals seeking to safeguard their savings while earning consistent returns. Fixed deposits have been a trusted option for cautious investors looking for stability and reasonable returns.
The Shriram Finance provides a diverse selection of Fixed Deposit (FD) products with attractive interest rates and maturity periods extending up to 60 months. To open a deposit, a minimum of Rs. 5,000 is required.
Shriram Finance : An Overview
Shriram Finance Limited is one of India’s leading non-banking financial companies (NBFCs), specializing in commercial vehicle finance. Established in 1979, Shriram Finance has since become a trusted name in the financial sector, offering a wide range of products and services to meet the diverse needs of its customers. The company’s robust financial position and strong credit rating have contributed to its credibility among investors.
Understanding Shriram Finance Fixed Deposits
Shriram Finance Fixed Deposits are a type of term deposit scheme offered by the company to individual investors. These FDs provide a fixed interest rate over a predetermined period, allowing investors to earn stable returns on their investments. The minimum investment amount required to open an STF FD account is typically reasonable, making it accessible to a broader investor base.
Shriram Finance Interest Rate Chart- July 2023
| Period | Monthly | Quarterly | Half Yearly | Annual |
|---|---|---|---|---|
| 12 M | 7.34% | 7.39% | 7.46% | 7.60% |
| 18 M | 7.48% | 7.53% | 7.60% | 7.75% |
| 24 M | 7.76% | 7.82% | 7.89% | 8.05% |
| 30 M | 7.90% | 7.96% | 8.04% | 8.20% |
| 36 M | 7.95% | 8.01% | 8.09% | 8.25% |
| 42 M | 8.00% | 8.06% | 8.14% | 8.30% |
| 50 M | 8.18% | 8.24% | 8.33% | 8.50% |
| 60 M | 8.18% | 8.24% | 8.33% | 8.50% |
w.e.f. Jul 2023
Shriram Finance FD - Cumulative Option
| Period | Annual Int. Rate (monthly rest) | Maturity of 10,000 | Effective Yield |
|---|---|---|---|
| 12 M | 7.34% | 10,760 | 7.60% |
| 18 M | 7.48% | 11,180 | 7.90% |
| 24 M | 7.76% | 11,670 | 8.37% |
| 30 M | 7.90% | 12,170 | 8.71% |
| 36 M | 7.95% | 12,680 | 8.95% |
| 42 M | 8.00% | 13,220 | 9.21% |
| 50 M | 8.18% | 14,050 | 9.71% |
| 60 M | 8.18% | 15,030 | 10.07% |
w.e.f. - Jul 2023
- 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, where the deposit is matured.
- Additional interest of 0.10%* p.a. will be paid to Women Depositors.
FAQs
What is eligibility criteria to open a Fixed Deposit with Shriram Finance?
To open a Fixed Deposit with Shriram Finance, the applicant must be an Indian citizen and at least 18 years old. Additionally, both individuals and HUFs (Hindu Undivided Families) are eligible to apply.
Also read: fixed deposit rates