Shriram Transport Finance raises fixed deposit rates by 0.5 pc

Shriram Transport Finance Company on Tuesday announced to raise fixed deposit rates by up to 0.5 per cent across tenors with effect from August 10.

The new interest rates will apply on deposit tenures between 12-60 months (1-5 years).

With the hike in fixed deposit rates by 25-50 basis points or 0.25-0.50 per cent per annum across different tenures, customers can earn interest up to 8.75 per cent on fixed deposits, effective from August 10, 2022, STFC said in a release.

Senior citizens will get the benefit of an additional 0.50 per cent per annum interest on their deposits, the release added.

Also, it will offer an additional interest of 0.25 per cent per annum on all renewals, where the deposit has matured. The company offers to finance pre-owned trucks with the main presence on lending towards 5-10 year-old trucks.

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