Shriram Finance Ltd (SFL), the flagship company of the Shriram Group, has announced a revision in interest rates on Fixed Deposits (FDs) across various maturity tenures.
For deposits with tenure of 12 months, the existing rate of 7.65 per cent would be revised to 7.35 per cent, while for deposits made through digital mode for a period of 15 months, it would be 7.50 per cent (7.90 per cent), Shriram Finance said in a statement.
Across various other maturity tenures, ranging from 18-60 months, the interest rates have been revised downwards by 40 basis points. The company has also revised Fixed Investment Plan (FIP) interest rates.
The revised rates will come be effective June 26.
Shriram Finance Fixed Deposits are rated “[ICRA]AA+ (Stable)“ by ICRA and “IND AA+/Stable” by India Ratings and Research