Friday, May 24, 2024
HomeBusinessFinanceShriram City Union Finance hikes FD rates by up to 25bps, women...

Shriram City Union Finance hikes FD rates by up to 25bps, women to get extra 10


NEW DELHI: Shriram City Union Finance Ltd. (Shriram City) on Thursday announced a hike in its fixed deposit (FD) rates by 5 to 25 basis points (1 basis point or bps is equal to one-hundredth of a percentage point) across different tenures.

Effective 14 October, customers can earn an interest of up to 8.80% on FDs. Women depositors will get an additional 10 bps (0.10%) on all FD rates.

Tenures of 12 month and 24 months have seen the highest hike of 25 bps with the revised rates at 7% and 7.5%, respectively. A new tenure of 18 months is also announced offering 7.3% interest rate.

Rates on longer tenures of 36 months, 48 months and 60 months have seen a hike of 5 bps to stand at 8.05%, 8.20% and 8.30%, respectively.

Shriram City Union Finance, part of the Shriram Group, gives loans to small businesses and for two-wheelers.

Senior citizen depositors will get an additional 0.50% on all tenure buckets. When the deposit matures and the depositor chooses to renew it, additional interest of 0.25% will be paid.

The company’s credit rating is AA by CRISIL, ICRA and India Ratings.

Interest rates on Fixed Deposits with effect from 14 October:

Shriram City Union Finance FD rates.

View Full Image

Shriram City Union Finance FD rates.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.


Source link


most popular

Recent Comments