Shriram Finance announces new deposit scheme
India’s retail NBFC, Shriram Finance Limited (SFL) a part of Shriram Group, announced a special fixed deposit rate under Jubilee Deposit.
- Republic Business
- 2 min read
India’s retail NBFC, Shriram Finance Limited (SFL) a part of Shriram Group, announced a special fixed deposit rate under Jubilee Deposit (Shriram Unnati Deposits), to coincide with the Group’s golden jubilee celebrations. The company will accept applications for fresh and renewal of fixed deposits of 50 months’ tenure with interests as mentioned in the table.
Investors can earn interest up to 9.15% on FDs. The rates will be effective from 5th April 2023.
(The other schemes specified in the company announcement dated March 9, 2023, will remain unchanged except for the 48-month scheme, which will be withdrawn with effect from April 15, 2023. Other terms and conditions of the fixed deposits schemes shall remain unchanged)
Interest rates on Shriram Unnati Jubilee Deposit:
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Women investors will receive an extra 0.10% p.a. Interest whereas senior citizens will receive an additional interest of 0.50% p.a.
Senior citizen women will receive an additional interest of 0.60% p.a.
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Shriram Finance Limited, (BSE: SHRIRAMFIN (511218), NSE: SHRIRAMFIN) is a 43-year-old company and part of the Shriram Group, is one of the NBFCs in India. The company is in the organized financing of pre-owned trucks with a strategic presence in 5-10-year-old truck lending. The company has a pan-India presence with a customer base of around 6.7 million customers. It offers several products which include: Pre- owned CV financing, New CV financing, Two Wheeler Loans, Passenger Vehicle Loans, SME Financing, Personal Loan, Gold Loan and other loans like accidental repair loans, tyre loans and working capital finance, etc.
Shriram Group is India’s leading financial conglomerate with presence in commercial vehicle (CV) financing, retail financing, chit fund, equipment financing, housing finance, life insurance, general insurance, stockbroking, distribution of financial products, and wealth advisory services. The Group is driven by its Financial Inclusion agenda of bringing finance to low-income families and small businesses.