Shriram Transport Finance Company Limited

Shriram Now Offers Higher Interest Rate on FD - up to 8.90%* per annum

  • Deposit
  • 1 Months ago

Written by - Shriram

With inflation clocking new highs globally and the financial pressure broadening beyond the rise in essential prices, stable returns are a crucial prerequisite for sustained personal finance growth. With risks to the inflation outlook tilted upside, investors are starting to choose safer options to prevent inflationary pressures from becoming entrenched.

Fixed Deposit (FD) investors are elated as RBI increased the repo rate again by 0.50 bps during the recently concluded monetary policy meeting held on August 5, 2022. To take advantage of the revised repo rate and pass down the benefit to investors, Shriram has increased the FD interest rates up to 8.90%* p.a. (including 0.50%* for Senior Citizens and 0.10%* for women depositors w.e.f. October 14, 2022).

On opting a cumulative FD for a tenure of 36 months, investors can avail interest rates that effectively yields 9.81*% p.a. (power of compounding). Read more to know about the new FD rates that Shriram offers to customize your fixed deposit investment plans accordingly.

Inflation-beating Interest Rates

According to the report by Forbes, India's retail inflation, as measured by the Consumer Price Index (CPI), rose to 7.41%* in September 2022 from 7%. In addition, the overall increase in repo rate has accelerated the rise in FD interest rates. Here is a list of the latest FD rates offered by Shriram.

Now, choose from the flexible tenures that Shriram offers, and book fixed deposit online at your convenience.
Tenure Existing Interest Rates Revised Interest Rates
12 Month 6.75% 7.00%
18 Month N/A 7.30%
24 Month 7.25% 7.50%
30 Month 8.00% 8.00%
36 Month 8.00% 8.05%
42 Month N/A 8.15%
48 Month 8.15% 8.20%
60 Month 8.25% 8.30%

Special Senior Citizen Interest Rates

Shriram offers an additional 0.50% interest for senior citizens. Resident Individuals over 60 years at the time of deposit/renewal can avail an interest rate up to 8.90*% p.a. (8.30% of regular interest rate + 0.50% of Senior Citizen benefit + 0.10*% of women investor benefit = 8.90%). The latest FD rates provided by Shriram are applicable for both offline and online transactions.

Did you know?
Every depositor can earn an additional 0.25% interest rate by renewing their matured fixed deposit plan.

Pro tip: Use the Shriram FD Calculator to calculate your interest income

Empowering Women's Financial Freedom

Shriram encourages financial freedom of women. Shriram FD is one of the market's best and safest FD plans, highly recognised and rated by ICRA and India Ratings and Research. Women FD investors can now avail an additional 0.10*% p.a. and maximise your returns with zero risk.

Shriram FD allows to conveniently choose to either invest in a Cumulative Fixed Deposit or a Non-Cumulative Fixed Deposit depending on one's financial objective.

Cumulative FD: Interest is compounded on a monthly basis to the principal amount and the final amount is received at maturity.
Non-cumulative FD: Interest is paid monthly, quarterly, half-yearly, or annually.

Reasons Why Shriram FD is the Best for Women Investors

  • Investing in Shriram gives you an additional interest benefit up to 0.10*%
  • Investors can start an FD with a minimum deposit of Rs. 5000 for a fixed tenure.
  • By opting for non-cumulative fixed deposit plan, you can enjoy monthly interest payouts
  • Upon renewal of fixed deposit, avail an additional 0.25% additional interest benefit

Benefits of Shriram FD

  • Flexible tenure: At Shriram, investors can conveniently customise and choose from a broad range of tenures. The tenure plans range from 12 months to 60 months
  • Seamless FD Investment Process: Investors can open a fixed deposit digitally from the comfort of their home or visit the nearest Shriram branch
  • Attractive returns: Shriram offers the highest interest rates of up to 8.90*%
    (inclusive of the 0.50% interest rate for senior citizen benefit and 0.10% interest rate for women investor benefit)
  • Hassle-free premature withdrawals: Shriram offers the flexibility to investors during financial emergencies. Investors can avail premature withdrawals at ease with a minimal penalty.
  • Loan against FD: Shriram offers a loan against FD, which allows the investor to borrow a sum of money which is subjective to the FD amount invested.

How to Open an FD at Shriram?

Opening an FD at Shriram is a hassle-free 4 step process.
Step 1:
Register with your mobile number
Step 2:
Enter your personal information such as PAN, Email etc
Step 3:
Select the amount, tenure, and payout options before completing the payment
Pro Tip: Earn best returns with the highest payment at maturity. A periodic payout option is available to receive money regularly.
Step 4:
Enter your bank account details and verify your information. Get your Fixed Deposit Receipt and maximise your returns.

Invest Now and Gain Attractive Returns

A smart investment is the investment that is made at the right moment. The market fluctuations do not have a negative impact on fixed deposits. Investing in a fixed deposit right now would yield remarkable returns. With Shriram's latest FD rates, one can enjoy higher returns at zero risk.
Now is the right time to invest in a Fixed Deposit.
Invest in Shriram Fixed Deposit Now.

Key Highlights

  • Senior Citizen Benefits: Shriram offers individuals over the age of 60 years an additional 0.50% p.a. interest rate at the time of deposit/renewal.
  • Employee Benefits: Additional 0.15% p.a. interest rates for Shriram Group of Companies employees and their families (Note: This applies only to blood relatives, spouses, or in-laws).
  • Women Investor Benefits: Female investors receive an additional 0.10% p.a. interest rate at Shriram.
  • Tenure Advantages: You can personalise your FD at your convenience.  New tenure options of 18 months and 42 months have been included recently.


  1. Which NBFC offers the best-fixed deposit rates?

Shriram is one of the most reputed NBFCs and offers the best-fixed deposit rates with the latest FD rates of up to 8.90%p.a., for fixed deposits.
  1. What are the factors that influence FD interest rates?

The RBI's repo rate changes impact interest rates which influences the maturity of receivable returns. Fixed deposit interest rates have generally been immune to changes brought about by policy rates.
  1. How can you pick the best FD scheme with the highest fixed deposit rates?

Depending on your needs, selecting the ideal scheme for the best fixed deposit rates is essential. You can choose to receive your interest payment all at once or regularly. To calculate your returns, try the Shriram FD Interest Calculator.
  1. What happens to my existing Fixed Deposit incase of an interest rate hike?

If you have a fixed-rate FD, you will continue to receive the same rate until maturity, even if interest rates fluctuate. To take advantage of the increased rate, you must open a new Fixed Deposit. You can open one anytime at Shriram for profitable returns.