Shriram Finance Reduces FD Rates Across Tenures, Effective May 6
Shriram Finance, a prominent financial services company, has announced a reduction in fixed deposit (FD) rates across various maturity tenures. The revised rates will come into effect from May 6, 2026. This move is expected to impact both individual depositors and those investing through the company's fixed investment plan (FIP).
For deposits of up to ₹10 crore, the interest rate on the 12-month tenor has been reduced to 6.75 per cent from 7 per cent. The interest rates in the 15 months (digital only) category have been reduced to 7.05 per cent from 7.25 per cent. Rates for the 18-23 months tenor now stand at 7 per cent, down from 7.15 per cent.
Rates for the 24-35 months tenor have been revised to 7.05 per cent from 7.25 per cent. The interest rates on 36-60 months have been slashed to 7.25 per cent from 7.60 per cent.
Senior Citizens, aged 60 years or above at the time of deposit or renewal, are eligible for an additional interest of 0.50 per cent per annum. Women depositors will receive an extra 0.05 per cent per annum, while renewals of matured deposits will attract an additional 0.15 per cent per annum.
Deposits can be made in multiples of ₹1,000, with a minimum deposit amount of ₹5,000.
The company has also lowered rates on its fixed investment plan (FIP). Rates for the 12-23 months tenor have been revised to 6.75 per cent from 7 per cent. The 24-35 months tenor now offers 7.05 per cent, down from 7.25 per cent. Rates for the 36-48 month tenor have been reduced to 7.25 per cent from 7.60 per cent.
Shriram Finance is a well-established financial institution that offers a wide range of financial products and services, including loans, insurance, and investments. The company is known for its customer-centric approach and robust financial performance. These rate reductions are part of the company's strategy to remain competitive in the market and attract long-term investors.
For more information, depositors are advised to visit the official Shriram Finance website or contact their nearest branch.
