Earn up to 9.36% interest rate on this NBFC’s FDs

Shriram Finance (SFL) has hiked fixed deposit interest rates across different tenures. The new rates on FDs are effective from January 1, 2023.

Increase in interest rate
On Shriram Unnati Deposits rates are hiked 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.
Women depositors who are senior citizens and renewing their deposits will be able to receive interest on FDs up to 9.36 percent starting on January 1, 2023.

Period (months)	Existing Interest rate (p.a.)	Revised Interest rate (p.a.)	Increase in Interest rate (p.a.)
		WEF Jan 1 2023
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)

Source: Sriram Finance press release

Important things to note on interest rate
According to the Sriram finance press release, below are interest rates for senior citizens, and women depositors.

• 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.

Say for example, company offers a maximum annual interest rate of 8.45% on deposits with a tenor of 60 months; moreover, senior citizens receive an additional 50 basis points higher interest rate, and renewals of deposits made by senior women receive a maximum interest rate 0.10%+ 0.25%.

How to book FD in four easy steps
Step 1: Register using mobile number
Step 2: Enter PAN details and investment amount
Step 3: Enter tenure, KYC, and bank details and complete your payment.
Step 4: Receive fixed deposit receipt