Shriram Finance's Unnati Jubilee fixed deposit scheme: These investors can earn up to 9.15% FD interest rate
To commemorate the Shriram Group's golden jubilee, Shriram Finance, a division of the Shriram Group, launched a special fixed deposit scheme under the category of Jubilee Deposits (Shriram Unnati Deposits) offering higher interest rates. The rates will be effective from April 5, 2023, according to a press release issued by Shriram Finance.The new deposit scheme will be applicable for new and renewed fixed deposits with a 50-month term and the interest rates, it will be available for a limited period. Women senior citizens are eligible for the highest FD rates of up to 9.15% per annum.
With the exception of the 48-month scheme, which will be discontinued with effect from April 15, 2023, the other schemes as of March 9, 2023, will remain unchanged.
Also read: POTD (post office time deposits) vs bank FDs: Which is offering best interest rates
Interest rates on Shriram Unnati Jubilee Deposit
Jubilee Deposit (Tenure - 50 months) Non-Cumulative DepositsCumulative DepositsInvestmentMonthlyQuarterlyHalfYearlyEffectiveMaturityType% p.a.% p.a.Yearly % p.a.% p.a.YieldValue for Rs.5,000/- % p.a. Fresh88.28.38.59.77,025Women88.38.48.619.97,050Renewal88.58.68.77107,095Women Renewal98.68.78.88107,125Senior Citizen98.88.89.04107,170Senior Citizen Women98.999.15117,200Senior Citizen Renewal999.19.31117,245Senior Citizen Women Renewal 99.19.29.42117,275Source: Bank press release
Important things to know
Women investors will receive an extra 0.10% p.a. interest Senior citizens will receive an additional interest of 0.50% p.a.Senior citizen women will receive an additional interest of 0.60% p.a.All the above tenures will be available for both offline and online investments. For example, suppose a firm offers a maximum annual interest rate of 8.5% on deposits with a tenor of 60 months; additionally, senior citizens earn an additional 50 basis points higher interest rate, and elderly ladies renewing accounts receive a maximum interest rate of 0.10%+ 0.25%.
How to apply for Sriram Finance fixed deposit
Step 1: Register using mobile number
Step 2: Enter PAN details and investment
Step 3: Enter tenure, KYC, and bank details and complete your payment
Step 4: Receive fixed deposit receipt and maximise your returns.
Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here!
This story originally appeared on: India Times - Author:Faqs of Insurances
