According to the company, the revised rates will apply to deposits of up to ₹10 crore. Interest rates for select tenures have been increased by up to 25 basis points.
Under the revised structure, the interest rate for 12-month deposits has been raised from 6.75% to 6.85% per annum. The 15-month digital-only deposit rate has been revised from 7.05% to 7.10%, while deposits with maturities between 18 and 23 months will now earn 7.05%, compared to the earlier 7.00%.
For deposits between 24 and 35 months, the revised rate stands at 7.10%, up from 7.05%. Deposits with maturities ranging from 36 to 60 months will offer 7.50% per annum, compared to the earlier 7.25%.
The company said additional benefits for certain customer categories will continue. Senior citizens will receive an additional 0.50% per annum, women depositors will be eligible for an additional 0.05%, and renewals of matured deposits will attract an additional 0.15%.
Shriram Finance also revised rates under its Fixed Investment Plan (FIP). For tenures between 12 and 23 months, the interest rate has been increased from 6.75% to 6.85%, while the 24–35 month tenure now offers 7.10%, compared to 7.05% earlier. The rate for 36–48 month FIP deposits has been revised upward from 7.25% to 7.50%.
The company stated that women depositors under the FIP category will continue to receive an additional 0.05% interest, while other terms and conditions remain unchanged.
The fixed deposits are rated “AAA/Stable” by multiple rating agencies, including CRISIL Ratings, ICRA, India Ratings and Research and CARE Ratings.
Shriram Finance, the flagship company of the Shriram Group, operates in retail asset financing and offers products including commercial vehicle loans, MSME financing, personal loans, gold loans and farm equipment financing. The company reported assets under management exceeding ₹3.02 lakh crore and a network of more than 3,200 branches across India.
