Shriram Finance has revised its fixed deposit (FD) interest rates, increasing them by 5 to 25 basis points across select tenures, effective July 2. The non-banking financial company (NBFC) said the revision aims to offer more competitive returns to depositors amid evolving market conditions.
Following the revision, Shriram Finance will offer a maximum interest rate of 7.5 per cent on deposits of up to ₹10 crore for tenures ranging from 36 to 60 months, up from the earlier 7.25 per cent. Interest rates on 12-month deposits have been increased to 6.85 per cent from 6.75 per cent, while deposits with tenures of 24 to 35 months will now earn 7.1 per cent compared to 7.05 per cent earlier.
The company has also revised rates under its Fixed Investment Plan (FIP). Deposits with tenures of 36 to 48 months will now yield 7.5 per cent, an increase from 7.25 per cent, while shorter-tenure deposits have seen hikes of up to 10 basis points.
Shriram Finance said it continues to offer additional benefits to specific categories of depositors. Senior citizens will receive an additional 50 basis points over the standard rate, women depositors an additional 5 basis points, and customers renewing matured deposits an extra 15 basis points. Under the Fixed Investment Plan, women depositors will also continue to be eligible for an additional 5 basis points.
The revised interest structure is expected to attract stronger retail participation and support the company’s ongoing efforts to strengthen its deposit base.
