Shriram Finance to raise FD rates by 15-40 bps from Oct. 11
In short
Shriram Finance is reported to be lifting fixed-deposit rates by 15 to 40 basis points from October 11. Deposits of up to ₹10 crore are covered, and 36- to 60-month deposits will earn 7.85%.
This matters for savers and the lender because higher deposit rates can attract more money. The full updated rate list is not stated in the available reporting.
What the reporting says
Shriram Finance is set to raise fixed-deposit rates by 15 to 40 basis points from October 11, according to publisher-supplied summaries. The revised rates will apply to deposits of up to ₹10 crore, and 36- to 60-month deposits will earn 7.85%. The reporting also says extra rates for seniors, women and renewals will continue, but it does not give the full new rate table.
Why it matters
Shriram Finance is reported to be increasing fixed-deposit rates by 15 to 40 basis points starting October 11. The revised rates apply to deposits of up to ₹10 crore, with 36- to 60-month deposits at 7.85%, and additional rates for seniors, women and renewals continuing. This affects retail depositors and the company’s funding costs, but the full schedule of rates is not stated.