Shriram Finance Ltd.

Shriram Transport Finance Company has increased fixed deposit rates by up to 0.5 per cent across tenors with effect from August 10. The new interest rates will apply on deposit tenures between 12-60 months (1-5 years). With the hike in fixed deposit rates by 25-50 basis points or 0.25-0.50 per cent per annum across different tenures, customers can earn interest up to 8.75 per cent on fixed deposits, effective from August 10, 2022.

Senior citizens will get the benefit of an additional 0.50 per cent per annum interest on their deposits. Also, it will offer an additional interest of 0.25 per cent per annum on all renewals, where the deposit has matured.

Shriram Transport Finance Company is a flagship company of the Chennai-based Shriram group and is classified as deposit taking Asset Financing NBFC.