Mumbai, May 21, 2022:One of the largest asset financing company in India Shriram Transport Finance Company Limited (STFC) a part of the Shriram Group, announced a hike in fixed deposit rates by 15 to 25 basis points (0.15%p.a. to 0.25%p.a.) across different tenures. The new rates will come into effect from Friday, May 20, 2022.
Interest rates on Fixed Deposits through regular channels
Tenure | Existing Interest Rate (p.a.) | Revised Interest Rate (p.a.) –w.e.f. May 20, 2022 | Increase in Interest rate (p.a.) |
12 months | 6.50% | 6.50% | No change |
24 Months | 6.75% | 6.75% | No change |
36 Months | 7.50% | 7.75% | 0.25% (25 basis points) |
48 Months | 7.60% | 7.80% | 0.20% (20 basis points) |
60 Months | 7.75% | 7.90% | 0.15% (15 basis points) |
Interest rates on Fixed Deposits through the Company website (www.stfc.in):
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% | 6.75% | No change |
30 Months | 7.50% | 7.75% | 0.25% (25 basis points) |
45 Months | 7.60% | 7.80% | 0.20% (20 basis points) |
An additional interest of 0.50% p.a will be paid to Senior Citizen depositors, which was 0.30% p.a. earlier