scorecardresearchThis NBFC just hiked FD interest rates up to 25 basis points

This NBFC just hiked FD interest rates up to 25 basis points

Updated: 13 Oct 2022, 03:25 PM IST
TL;DR.

Customers can earn interest up to 8.8 per cent on Fixed Deposits (FDs), effective from October 14.

An collectible banknote buyer holds Indian rupee banknotes in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

An collectible banknote buyer holds Indian rupee banknotes in Mumbai, India, on Wednesday, July 20, 2022. The rupee slid to all-time low of 80.06 per dollar on Tuesday, and has lost 2.4% over the past month, the third-worst performing Asian currency over the period. Photographer: Dhiraj Singh/Bloomberg

(PTI) Non-banking finance company Shriram City Union Finance (Shriram City) catering to small businesses and two-wheeler segment on Thursday said it has raised interest rates on fixed deposits by 5-25 basis points (bps) across tenors.

One basis point is one-hundredth of one percentage.

Customers can earn interest up to 8.8 per cent on Fixed Deposits (FDs), effective from October 14, it said in a release.

It also announced a special benefit for women, offering them an additional 10 bps per annum on all FD rates.

The revised interest rates apply to tenures between 12 months to 60 months, the company said.

Besides, it will offer an additional interest of 50 basis points per annum to senior citizen depositors (over 60 years on the date of deposit/renewal) and an additional interest of 25 basis points per annum on all renewals where deposit has matured.

 

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First Published: 13 Oct 2022, 03:25 PM IST