Shriram City Union Finance Ltd. (Shriram City) has announced an increase in fixed deposit rates by 5 to 25 basis points to tenures from 12 to 60 months with effect from Friday.
Customers can earn interest up to 8.3% on FDs for 60 months. For women depositors, the company has introduced an additional 10 bps per annum. Senior citizens will get additional interest of 0.50% per annum on deposit/renewal.
Additional interest of 0.25% p.a. will be paid on all renewals, where the deposit is matured, Shriram City said in a statement.