Shriram City Union Finance hikes FD charges by as much as 25bps, girls to get further 10

NEW DELHI: Shriram City Union Finance Ltd. (Shriram City) on Thursday introduced a hike in its mounted deposit (FD) charges by 5 to 25 foundation factors (1 foundation level or bps is the same as one-hundredth of a share level) throughout totally different tenures.

Effective 14 October, clients can earn an curiosity of as much as 8.80% on FDs. Women depositors will get a further 10 bps (0.10%) on all FD charges.

Tenures of 12 month and 24 months have seen the very best hike of 25 bps with the revised charges at 7% and seven.5%, respectively. A brand new tenure of 18 months can be introduced providing 7.3% rate of interest.

Rates on longer tenures of 36 months, 48 months and 60 months have seen a hike of 5 bps to face at 8.05%, 8.20% and eight.30%, respectively.

Shriram City Union Finance, a part of the Shriram Group, provides loans to small companies and for two-wheelers.

Senior citizen depositors will get a further 0.50% on all tenure buckets. When the deposit matures and the depositor chooses to resume it, extra curiosity of 0.25% might be paid.

The firm’s credit standing is AA by CRISIL, ICRA and India Ratings.

Interest charges on Fixed Deposits with impact from 14 October:

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Shriram City Union Finance FD charges.

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