Shriram Finance Boosts Fixed Deposit Rates

Shriram Finance Ltd, a key player under the Shriram Group umbrella, is set to revise its fixed deposit interest rates starting June 26, the company declared on Wednesday.

Under the new scheme, senior citizens will earn an extra 0.50% annually, while women depositors will receive an additional 0.05% annually. A revised rate of 7.65% will apply to deposits lasting 12 months, up from the current 7.35%.

Deposits made digitally for 15 months will see an increase from 7.50% to 7.90%. Other notable changes include a rise to 8.40% for terms of 36, 50, and 60 months. The updates also extend to the Fixed Investment Plans accessible via the 'Shriram One' app.

(With inputs from agencies.)